AWS Ocean Energy, developer of the Archimedes Wave Swing (AWS) generator, has raised £2 million ($3.4 million) in equity funding from investment group RAB Capital.
The AWS system is the world’s most powerful and efficient wave energy converter, the company claims, and has already completed successful trials in Portugal.
The AWS generator is moored to the seabed and generates power when passing waves move an air-filled upper casing against a lower fixed cylinder. The new funding will enable AWS to complete the design of a full-scale 1.2 MW demonstrator to be fabricated in 2007 and commissioned in 2008.