Ocean Renewable Power, looking to raise $12M for ocean power
Ocean Renewable Power Co., a Fall River, Mass. company that uses ocean waves to generate electricity, is about to launch its first pilot turbine, and is reportedly in the process of raising $12 million in financing.
The news, reported this morning by VentureWire (subscription required), comes at a time when other efforts to do something similar have failed.
The three-year-old company expects to begin testing its underwater turbine prototype off the coast of Eastport, Maine, by the… Continue Reading