The Oyster 2 will allow Aquamarine to refine the lessons learned from its Oyster 1 unit, currently installed off the Scottish coast and pumping electricity into the onshore grid.
The source of the new financing was not revealed. Previous Aquamarine investors include Scottish and Southern Energy, Scottish Enterprise and Sigma Capital Group.
“The additional fundraising enables us to progress to the next phase – the manufacture and installation of Oyster 2 – and we will announce the awards of these contracts shortly,” says chief executive Martin McAdam.
Aquamarine
