Aquamarine Power
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| Aquamarine Power | |
|---|---|
| Name | Aquamarine Power |
| Type | Private |
| Fate | Administration (2015) |
| Founded | 2005 |
| Defunct | 2015 |
| Headquarters | Edinburgh, Scotland |
| Industry | Renewable energy |
| Products | Wave energy converters |
| Key people | Alexander Bruce, Craig Morrison |
Aquamarine Power was a Scottish renewable energy company that developed wave energy technology to convert ocean surface waves into electricity. Founded in 2005 in Edinburgh, Scotland, the company operated in the context of broader renewable initiatives involving organizations such as Scottish Enterprise, European Commission, Innovate UK, and collaborations with academic institutions like the University of Edinburgh and the University of Strathclyde. Aquamarine Power's work intersected with national and international energy policy debates involving UK Department of Energy and Climate Change, Scottish Government, European Marine Energy Centre, and the International Energy Agency.
History
Aquamarine Power was established by engineers influenced by precedents set by entities such as Pelamis Wave Power, Ocean Power Technologies, Blue Energy, and research programs at Swansea University, Heriot-Watt University, and Queen's University Belfast. Early milestones included securing grants from Technology Strategy Board partners, research contracts linked to the European Union Framework Programmes, and pilot support from the Crown Estate. The company deployed prototypes amid a wave energy sector that featured players like Seabased AB, Carnegie Clean Energy, Wave Dragon, and Iberdrola. Over its lifetime Aquamarine Power engaged with supply chain and policy stakeholders including BP, Shell, Siemens, GE Renewable Energy, and investment networks such as Scottish Investment Bank and Venture Scotland. Financial pressures and market conditions that affected contemporaries like EnviroMission and Tidal Energy Ltd culminated in Aquamarine Power entering administration in 2015.
Technology and Devices
Aquamarine Power designed the Oyster wave energy converter, a flapped, seabed-mounted device inspired by concepts explored at Imperial College London, MIT, and the National Renewable Energy Laboratory. The Oyster operated using a hinged flap attached to the seabed driving hydraulic pistons linked to onshore power take-off systems, resembling mechanical solutions pursued by Limpet and contrasting with attenuator designs by Pelamis Wave Power. Engineering partnerships and testing drew on expertise from ABB, Schlumberger, Aker Solutions, and marine systems research at University of Plymouth and University of Oxford. The device integrated components analogous to innovations from General Electric and control strategies researched at Delft University of Technology and Norwegian University of Science and Technology.
Pilot Projects and Installations
Aquamarine Power conducted testing at sites including the European Marine Energy Centre at Orkney, the Billia Croo test location, and coastal trials in partnership with port authorities in Aberdeen and Shetland Islands. Deployments involved coordination with maritime agencies such as Marine Scotland, Maritime and Coastguard Agency, and harbour operators like Port of Dundee. The Oyster prototypes were installed alongside contemporaneous devices at testbeds where institutions such as Cefas and National Oceanography Centre monitored performance. Collaborative projects linked to funding instruments involved partners like Siemen's Wind Power (now Siemens Gamesa), EDF Energy, and academia including University of Glasgow.
Performance and Efficiency
Performance assessments referenced modeling approaches used by Carbon Trust, performance metrics comparable to devices from Salter's Duck concept pioneers, and benchmarking against tidal turbines such as those by Andritz Hydro Hammerfest and Verdant Power. Data from trials informed discussions at conferences hosted by European Wave and Tidal Energy Conference and publications associated with IEEE and ASME. Efficiency considerations involved wave resource assessments from Plymouth Marine Laboratory and metocean data from UK Met Office and European Centre for Medium-Range Weather Forecasts. Reports compared levelized cost of energy projections to goals set by International Renewable Energy Agency and International Energy Agency ocean energy roadmaps.
Funding and Corporate Structure
Aquamarine Power's financing comprised venture capital, grants, and strategic partnerships with entities including Scottish Enterprise, Scottish Development International, Highlands and Islands Enterprise, and European funding bodies tied to Horizon 2020 precursors. Investors and consortium members included E.ON, Eurener, and institutional backers aligned with funds managed by Legal & General and ubp. Corporate governance engaged directors and advisers with links to firms such as PA Consulting, McKinsey & Company, and legal counsel from firms like Dentons. The company navigated investment rounds similar to those of Novacea and contractual frameworks comparable to Power Purchase Agreement negotiations undertaken by ScottishPower Renewables.
Regulatory and Environmental Impact
Regulatory engagement required licenses and consents from bodies including Marine Scotland Licensing Operations Team, Scottish Environment Protection Agency, Crown Estate Scotland, and local planning authorities such as Orkney Islands Council. Environmental monitoring assessed impacts on species protected under legislation referenced by Ramsar Convention, EU Habitats Directive, and management plans akin to those for offshore developments by Natural Resources Wales and Environment Agency (England and Wales). Studies examined interactions with marine mammals monitored by organizations like Sea Mammal Research Unit and seabirds tracked by Royal Society for the Protection of Birds.
Legacy and Closure
Following administration in 2015, assets and intellectual property influenced later projects and informed policy reviews by Scottish Government and research agendas at institutions like University of Strathclyde and Heriot-Watt University. Lessons from Aquamarine Power contributed to roadmaps produced by Ocean Energy Systems and influenced investors including Green Investment Bank and EU funding priorities at European Investment Bank. The company's trajectory is considered alongside the histories of Pelamis Wave Power and Wave Energy Scotland in analyses by think tanks such as Energy Institute and Carbon Trust. Its legacy persists in datasets, engineering lessons, and regional marine energy strategies promoted by agencies like VisitScotland and regional economic planners.