PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: ABB Robotics / ABB Ltd

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

ABB Invests in Renewable Energy Company - Technology generates clean electricity from nearshore wave energy
ABB Invests in Renewable Energy Company

 

NewswireToday - /newswire/ - Zurich, Switzerland, 2010/11/24 - Technology generates clean electricity from nearshore wave energy. NYSE: ABB

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

ABB, the global power and automation technology group, announced today it has invested about $13 million in Aquamarine Power, a Scottish company that has developed technology to convert energy captured from waves near shore into clean, usable electricity.

ABB Technology Ventures, the company's venture capital arm, made the investment in a funding round that also included a $4.8 million investment from SSE Venture Capital, the venture capital unit of Scottish and Southern Energy and other investors.

The investment gives ABB access to another renewable energy technology, and provides an entry into the emerging marine energy market, where ABB has considerable pull-through sales potential for its power systems, power electronics and medium-voltage drives.

"Wave energy is primed to become an important part of the world's renewable energy portfolio,” said Brice Koch, head of ABB Marketing and Customer Solutions, which oversees the company’s renewable energy initiatives among other activities. "This investment reflects our belief in its technical viability, and our confidence in Aquamarine’s technology and its management team.”

Aquamarine’s Oyster wave power device consists of a hinged mechanical flap connected to the nearshore seabed that pipes high-pressure water to an onshore turbine for power generation. The system is easier to install and maintain than other wave power generation systems, and has won a number of renewable energy innovation awards.

In November 2009, the first full-scale demonstrator Oyster began producing power at the European Marine Energy Center based in the Orkney Islands, Scotland. Once commercialized, Oyster wave power devices could be deployed in farms rated at 100 megawatts or more.

“This strategic investment gives ABB an early-mover advantage in our wave energy technology, while we gain access to ABB’s technical, research and engineering expertise and global supply chain network,” said Aquamarine Power CEO, Martin McAdam.

ABB Technology Ventures invests in strategically interesting early and growth stage companies. To date, investment areas include smart grid communications, cyber security for utilities, data center power optimization and wind farm efficiency.

ABB (abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs about 117,000 people.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Manufacturing/Robotics Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: ABB Robotics / ABB Ltd

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Manufacturing/Robotics articles,
CATCH Visitors via Your Competitors Announcements!


ABB Invests in Renewable Energy Company

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

ABB |
Publisher Contact: Thomas Schmidt / Wolfram Eberhardt 
+41 43 317 6568 media.relations[.]ch.abb.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any ABB Robotics / ABB Ltd securities in any jurisdiction including any other companies listed or named in this release.

Manufacturing/Robotics via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From ABB Robotics / ABB Ltd / Company Profile


Read Manufacturing/Robotics Most Recent Related Newswires:

LANXESS Introduces New Sustainability in the Tanning Process
PPG to Highlight ENVIROCRON High Transfer Efficiency (HTE) Coatings At Powder Coating 2017 Conference
Rockwell Automation Addresses Digital Transformation and Industrial IoT Opportunities at Hannover Messe 2017
BASF Launches APEX - Next Generation Latex Binder
BASF Leather Chemicals Business to Become Part of Stahl Group
New Factory in Kuwait Consolidates Hempel’s Position as Market Leader in the Middle East
Voith Introduces SkySoft Creping Blade with Ceramic Coating Helps to Increase Tissue Productivity
BASF Licenses CRISPR-Cas9 Genome-editing Technology from the Broad Institute
Outokumpu and Sidenor to Partner in Sales of Prodec High Machinability
ADVA Optical Networking and Corning Showcase 100G Direct Detect Solution for Ultimate DCI Efficiency
OFS Announces Higher DWDM Capacity Over TeraWave™ ULL Optical Fiber with Nokia Commercial Ultra-Wideband C+L-Band System at OFC 2017
ADVA Optical Networking Unveils Industry First with 600Gbit/s per Wavelength DCI Technology
EANTC Tests Confirm Unique NFV Benefits of ADVA FSP 150 ProVMe
PPG Debuts TOUCHMIX XI Touchscreen Computer
Hexagon Manufacturing Intelligence CMMs Increase Inspection Performance on Large and Palletised Parts

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  BizJobs.com

Visit  MagLar, Inc.





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)