Ireland: Administrative Expenses Triple at Wavebob

Wavebob, a leader in the design and development of environmentally sustainable wave energy conversion systems, said that its administrative expenses have tripled to € 1.8 m last year.

Last year, the company received a € 1.3 m government grant. After receiving the grant no costs were capitalised which lead to increased administration costs, Independent.ie news site reports.

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Offshore WIND staff, August 16, 2012; Image: wavebob