The directors of pioneering wave energy developer Pelamis have vowed to continue the fight to ensure the company’s success.
Additional funding is required for further development of Pelamis’ wave energy technology. Without this, the board has reluctantly moved to appoint administrators to assess the options for securing the future for the business and its staff.
The directors say the combination of over 350 years of experience in the team, 15,000 hours of grid connected test data and intensive research and development work gives Pelamis a unique platform from which to develop and demonstrate the viability of its technology for commercial deployment.
They said: “The directors and employees of Pelamis are dedicated to the success of this revolutionary technology, and are committed to working with the administrators, the Scottish and UK Governments and any future partners to ensure its success.”
Neil Kermode, managing director of the Orkney-based European Marine Energy Centre, said: “EMEC is saddened to hear that its oldest customer has gone into administration.
“We have known many of the Pelamis team for years and all of us at EMEC are dismayed by this announcement. As a test site we have seen the clever, heroic, innovative work they have done to bring an idea to reality over the last decade.
“As a Scottish world leader Pelamis have been one of the icons of the marine renewables industry.
“It is all the more galling when we know that marine energy has the potential to be a major supplier of power to the UK. But just like anybody who has been to sea, we know how hard it is out there, and trying to build a new power source was never going to be easy.
“But all the developers we have on our test sites have been showing year on year how drive, ingenuity, skill and bloody minded determination can overcome seemingly insurmountable problems; and overcome them safely.”
He added: “This announcement is undoubtedly a big setback in the mission to learn how to harvest energy from the sea, but the prize is still there.
“The waves will keep pounding into the Orkney coastline and the world is still using precious and irreplaceable fossil fuels at an increasing rate. We know marine energy will have its day.”
Press release; Image: Pelamis Wave Power