History

The Company was founded in 1998 by Dr Richard Yemm, Dr Dave Pizer and Dr Chris Retzler with the aim of developing the Pelamis Wave Energy Converter.

Since then the company has raised over £40million of investment and has been successful in bringing Pelamis technology to the commercial marketplace. The company now employs over 70 people and has headquarters in Edinburgh. There are further operations in Portugal.

Pelamis Wave Power changed its name in September 2007 from Ocean Power Delivery.

Business Strategy

PWP works with project developers, energy companies and utilities seeking to harness wave energy in order to meet the global need for clean, sustainable, renewable power generation.

PWP undertakes to build and install wave power projects using Pelamis machines and to provide operations and maintenance services to support these projects.

PWP also offers to undertake feasibility studies to support project developers and validate the viability of projects in different geographic locations.

Investor Relations

PWP has raised some £40m to fund the development of Pelamis technology from a variety of financial and industry backers. Major shareholders include; Emerald Technology Ventures, Norsk Hydro Technology Ventures, BlackRock Investment Managers, 3i, Carbon Trust, Nettuno Power, Tudor BVI Global Portfolio and Scottish Enterprise.