Major investment at wave energy company
A French power company have taken a major stake in a Scottish marine energy firm.
Alstom have snapped up a 40 per cent holding in Inverness based AWS Ocean Energy in a multi-million pound deal.
As a result of the investment the workforce in the Highlands is expected to rise from 14 to 29 to over the next 12 months.
The Scots business are developing a floating device called AWS-III which uses the motion of waves to produce electricity.
A small prototype has been tested on Loch Ness with a full scale device scheduled to be deployed next year.
SimonGrey, AWS Ocean Energys chief executive, said: "Alstom's decision to invest in our company are endorsements of what we have achieved so far and a major source of motivation to accelerate the commercial development of our technology.
"With Alstom as a major backer, AWS Ocean Energy has a delivery capability which our utility customers will need in order to realise their major wave energy projects in Scotland and elsewhere."
Philippe Cochet, Alstom's senior vice-president of hydro and wind, said: "We are extremely excited about entering the wave energy market at this pivotal time.
"Having reviewed many different technologies, and undertaken further detailed analysis with the most promising, we are absolutely confident that AWS-III is a technology that perfectly complements our existing ocean activities: tidal energy and offshore wind, while further reinforcing Alstom's position as a leading supplier of clean energy solutions."
Lena Wilson, chief executive of Scottish Enterprise, said: "The AWS-III technology is a great example of innovative Scottish energy engineering and this latest investment from Alstom underlines confidence in the company and its technology as a viable future renewable energy source."