Danish renewable energy company Resen Waves has raised £1m (€1.14m) through investor West Hill Capital to help with the development of a 300W wave energy device.
Resen Waves said it will use the funding to set up sales and marketing operations in Aberdeen and for further research and development in Denmark.
The company said it is focusing on using the device to supply power to the oil and gas sector but is also considering other opportunities.
Resen Waves chief executive Per Resen Steenstrup said: “Our initial target market is the $6bn offshore oil and gas decommissioning industry, but our eventual aim is to replace polluting diesel generation in off-grid coastal communities and form part of the 100GW wave and tidal capacity targeted by the EU by 2050.”
Image: Resen Waves
Danes raise marine war chest
By EBS