Aquamarine claims the five-year loan from Barclays marks the first time a UK marine-energy project has secured bank debt finance.
The cash will allow the company to complete a 2.4MW array of its Oyster wave-power devices at the European Marine Energy Centre (EMEC) in Orkney, Scotland.
The first of three 800kW Oysters was deployed at its site at Billia Croo near Stromness last month, with the others to follow in 2012 and 2013.
Aquamarine
