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New Renewable Energy Company Comes To Maryland
May 28, 2008
Governor Martin O’Malley and representatives from Wavebob Ltd. announced the opening of their North American headquarters in Annapolis. Wavebob is an innovative wave power company developing technology to harness the energy of the ocean to produce renewable electricity. By delivering low cost power with minimal environmental impact, the patented Wavebob energy converter device is helping accelerate commercial-scale adoption of wave power. At the forefront of ocean energy technology, Wavebob has enjoyed some great achievements over the past year leading to strategic relationships with Chevron Technology Ventures in the U.S. and Vattenfall, one of Europe’s largest utility companies and has recently formed a joint venture company to develop a 250MW commercial wave farm off the west coast of Ireland. Ireland is now receiving international recognition as a leader in the commercialization of ocean energy technology.
Wavebob is implementing a robust commercialization strategy that includes an office in Annapolis, Md., not only to serve market interests, but also to underpin product development. The company believes that Maryland provides a unique opportunity to apply unique skills, research capacity, and funding opportunities to ocean energy problems, an area where the U.S. has not yet been a global leader. The company hopes to have 15 employees in place by 2011 and plans to invest over $10 million locally.
Posted by Christina Fisher on May 28, 2008 | Comments (0)
