Tuesday, August 26, 2008

Aquamarine gets (really) serious

Aquamarine has just announced the appointment of a new CEO, Martin McAdam, who was last seen at Airtricity where he was Chief Operating Officer. Details here.

This is interesting, as Martin's clearly a serious player in the renewables space. Now, I think it's fair to say that some of the marine developers are thinly capitalised (putting it politely) and might struggle to attract a candidate of this calibre. So we take this appointment as very positive for Aquamarine, as we (perhaps rashly) infer a real commitment from Scottish and Southern to the success of the business, which might well take more investment than the £6.5 million it's put in so far.

An alternative interpretation would be that perhaps Mr. McAdam made such a huge pile of cash out of the Airtricity sale that he doesn't have to worry about money!

Tuesday, August 12, 2008

Cheeky Wavegen aiming for the Saltire Prize?

In a press release in late July (here), Wavegen announced the "official start" of a 100 kW turbine at the Islay LIMPET site.

The odd thing is that the LIMPET has been operational since 2000, with turbines of more than 100 kW installed in the past. It's not clear to us how this is really news, although there is some limited discussion of "new breakwater turbines" being tested. Is this just Wavegen seeking to position itself as a contender for the Saltire Prize?