Aquamarine Power receives international recognition at the prestigious European Business Awards

11 June 2012

Aquamarine Power, an ECCI supported Scottish SME, has received international recognition at the prestigious European Business Awards for the Environment in Brussels.

The pioneering company –which has offices in Edinburgh, Orkney and Belfast – was presented with the Product Award for its Oyster wave energy technology, by Karl Falkenberg, director general for environment, European Commission.

Aquamarine Power has developed an innovative hydro-electric near-shore device known as Oyster. The system, which captures wave energy and converts it into clean sustainable electricity, could also potentially be used for reverse osmosis desalination.

Aquamarine Power was selected as an EU Finalist from a record 156 entrants across Europe, after winning a special commendation at The VIBES Awards in 2010, and was the only Scottish winner at the EBAE ceremony. Marks & Spencer was the only other UK winner at the event after triumphing in the Management Award category.

Martin McAdam, chief executive officer of Aquamarine Power, said:
“Marine energy has a massive role to play in helping Europe meets its challenging carbon reduction targets. This award recognises the potential that innovative technologies such as Oyster have, not just in moving to a green energy future, but also in providing new growth areas for European economies and new opportunities for coastal communities reliant on declining natural resources.

“This award is a great honour for Aquamarine Power and we would like to thank the European Commission, the Commissioner for the Environment and the judging panel for this recognition.

“This award is for the brilliant, hard-working and dedicated team at Aquamarine Power and our shareholders, especially ABB, SSE and the Scottish Government, who continue to support the creation of a new marine energy industry.”

UK entrants for Europe are selected from the winners of RSA Accredited award schemes from the past two years. The VIBES Awards is the only awards scheme in Scotland that feeds in to the prestigious awards.

The Vision in Business for the Environment of Scotland (VIBES) Awards recognise the commitment, actions and achievements of Scottish companies in reducing their impact on the environment.

ECCI is sponsoring the SME Management Award in this year's VIBES awards and offering up to three days of free support to successful applicants in each of the award categories, as well as to previous winners and entrants. The successful candidates will receive expert advice from one of ECCI’s three Business Managers, whom each have a particular focus on and knowledge of two main ‘low carbon cluster areas’. These include: Carbon Finance, Carbon Accounting, Green ICT, Built Environment & Renewables, Sustainable Transport and Land Use, Water and Waste.

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