Aquamarine Power Research Partnership With BAE Systems

26th Jul 2010 07:40

LONDON (Dow Jones)--Aquamarine Power Ltd. a wave energy developer said Monday that it has joined forces with BAE Systems as part of a project worth almost GBP1 million to deliver cheaper, more reliable sources of clean energy for homes across the U.K. and beyond. MAIN FACTS: -The technology strategy board awarded a GBP450,000 grant, which the partners match-funded, to support a 30 month research, development and demonstration project to enable large-scale commercial production of Aquamarine Power's Oyster wave energy converter. -Under the partnership, engineers at BAE Systems usually involved in the design, repair and maintenance of complex naval systems, will work with Aquamarine Power to develop an intelligent diagnostic system and remote ballasting mechanism. -By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; [email protected] (END) Dow Jones Newswires July 26, 2010 02:40 ET (06:40 GMT)