Scottish wave energy company Aquamarine Power closed its Newport office, saying a lack of regulatory certainty made it impossible to invest in Oregon.
Scottish wave energy company Aquamarine Power closed its Newport office, saying a lack of regulatory certainty made it impossible to invest in Oregon.
“We are at present unable to proceed until we are given some certainty over seabed leases pending compleition of the Territorial Sea Plan process,” said Martin McAdam, Aquamarine’s CEO, in a statement.
But while Aquamarine’s exit may be viewed as a blow to Oregon’s nascent wave energy industry, Jason Busch, executive director of the state-funded Oregon Wave Energy Trust, doesn’t think the state has seen the last of Aquamarine Power.
“Oregon has great resources,” Busch said.
Read more at Sustainable Business Oregon.
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