Wavebob Plans to Raise EUR 10 Million (UK)

Wavebob Ltd is planing to raise 10 Million Euros by the end of March, Bloomberg reports.

Waves with the best energy profile are typically found in deep offshore waters, such as the west coast of Europe and the US. Wavebob is optimized to capture the power from waves with this profile. There are already some potential investors form Europe and US.

Under a six-year agreement, Wavebob and Abengoa SA, are going to search potential locations for wave-energy farms.

Three machines will be installed in Scotland, Portugal and US by 2014.

Wavebob is a leader in the design and development of environmentally sustainable wave energy conversion systems. Harnessing the world’s vast wave energy potential in an economically viable and environmentally friendly manner has been the cornerstone of Wavebob’s Research and Development effort. This effort has yielded tangible results in the form of a revolutionary wave energy conversion system design that can be tailored to meet the renewable energy needs of the global electricity marketplace.

[mappress]

Offshore Wind Staff , January 17, 2012 ; Image: pelamiswave