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More money washes into wave power
Right now, wave power is in the early experimental stages, but venture capitalists are lining up to be on the ground floor.
Orecon has lined up $24 million in funding from Advent Ventures, Venrock, Wellington Partners and Northzone Ventures to build a full scale prototype of its wave power machine and, if the results are positive, move toward commercial deployment.
The U.K.-based Orecon has devised a large-scale buoy for harvesting power from waves. In a nutshell, waves striking the device create pressure in a chamber, which is used to turn a turbine and create electricity. A single device … Read more
