The latest financing – secured with the backing of compatriot utility Fortum, innovation fund Sitra and technology development agency Tekes – comes in the wake of AW-Energy’s installation of a “semi-scale” 300kW grid-connected array off Peniche, Portugal.

The array of three 100kW devices, brought online in mid-August, is being operated by AW-Energy, with a group including industrial heavyweights Bosch Rexroth and ABB, and Portuguese renewables operator Eneolica.

The