Plymouth wave device developer WITT Energy has smashed its crowdfunding target of £750,000 by raising £2.4m since 7 March.
The company attracted investment from across the globe including Australia, South America and the Middle East.
The money will be used to manufacture its 200W Whatever Input to Torsion Transfer device.
WITT is designed to be used for remote power applications such as desalination and offshore fish farms.
WITT chief executive Mairi Wickett said: “It’s an awesome result and we’d like to thank everyone who has invested in this amazing technology.
“This investment will not only allow us to put the 200-Watt Marine WITT into production, but it will also enable us to develop and commercialise other WITT applications, and open doors with licensing partners.”
WITT’s partners include Schaeffler, Ricardo and Gibbs Gears.
Image: Whatever Input to Torsion Transfer wave device (WITT Energy)
