Oyster® Wave Power Device Wins Innovator of the Year 2009

Aquamarine Power has been celebrated as a leading force in the UK's renewable energy sector, winning the coveted 'Innovator of the Year Award 2009' for its market leading Oyster® wave energy converter at the British Renewable Energy Awards.

Aquamarine Power ("Aquamarine") has been celebrated as a leading force in the UK's renewable energy sector, winning the coveted 'Innovator Award 2009' for its market leading Oyster® wave energy converter at this year's British Renewable Energy Awards.

Aquamarine competed against seven other shortlisted nominees to win the award which honours outstanding excellence in innovative features of concept and design; achievement in meeting original objectives and continued proven success of the device; and the demonstration of exceptional effort of those involved in bringing Oyster® through development, testing and towards to commercialisation.

The REA represents the UK's renewable energy industry and promotes the use of sustainable energy in the UK. The REA's main objective is to secure the best legislative and regulatory framework for expanding renewable energy production in the UK. Undertaking policy development and providing input to government departments and regulators, the REA are a governing body in the renewable industry.

Martin McAdam, Chief Executive Officer of Aquamarine Power commented: "We are very proud to be awarded the Innovator Award 2009 and recognised as having the UK's most pioneering new energy device by the Renewable Energy Association (REA). The REA are a leading force in this sector and to be recognised by them is a great achievement.

"Our Oyster wave energy device is at the forefront of global technical innovation and will harness the sea's powerful energy in the most efficient and effective way. The seas around our shores are our most valuable asset and future generations will depend on finding suitable alternatives to oil and gas to produce power which will ultimately run out.

"The reliability of marine energy makes it an ideal energy source. Oyster has already proven that and has successfully exported power to the national grid for the first time.

"This is a great acknowledgment for all our team at Aquamarine who are ambitious, driven by success and work tirelessly to be the best in what they do. We pride ourselves on our innovative and ethical approach, and want to make Aquamarine a world leading energy producer, while saving the planet."

Oyster® is currently in the first stage of deployment. The installation jack-up barge 'Deep Diver' is on site at Billia Croo, Orkney, and the base of the device, known as the Pile Connector Frame (PCF), has been placed on the seabed. Drilling operations are now under way to attach the PCF to the seabed.

For a full list of the Renewable Energy Award winners, visit www.r-e-a.net.


For further information, contact:

Buchanan Communications
Diane Stewart 0131 226 6150
Carrie Clement 0131 226 4427

Or visit www.aquamarinepower.com

Notes to Editors
Aquamarine Power

Aquamarine Power is the world leading wave energy technology developer. Aquamarine Power's site development team has identified the best marine energy sites in the UK, Ireland, mainland Europe and beyond and will take the most promising site from concept to consent.

Aquamarine Power has secured a test berth at the European Marine Energy Centre (EMEC) in Orkney and Oyster® will be deployed at full scale in the summer of 2009.

Aquamarine Power was founded in 2005 by leading marine energy developer, Allan Thomson, and Professor Trevor Whittaker, head of the award-winning wave power research group at Queen's University Belfast.

Aquamarine Power's senior management team includes CEO, Martin McAdam, who founded Airtricity's US operations, recently sold for 1.2 billion, and COO, Matthias Haag, former General Manager at Shell WindEnergy.

Oyster® has been designed to capture the energy found in amplified surge forces in near-shore waves. The system consists of a simple oscillating wave surge converter, or pump, fitted with double acting water pistons, deployed near-shore in depths of between 8 and 16 metres. Each passing wave activates the pump which delivers high pressure water via a sub-sea pipeline to the shore. Onshore, the high-pressure water is converted to electrical power using conventional hydro-electric generators.

In October 2007 Aquamarine Power joined forces with Scottish and Southern Energy's subsidiary, Renewable Technology Ventures Ltd (RTVL), securing a £6.3m investment from SSE and a further £1.5m from Sigma Capital Group plc.

Aquamarine Power has received significant funding and support from Scottish Enterprise, Highlands and Islands Enterprise, the Technology Strategy Board, the Royal Academy of Engineering, the Engineering and Physical Sciences Research Council (EPSRC) and the Scottish Government.

Aquamarine Power recently featured in leading environmental business website Greenbang's UK Clean Tech Start-Up Index of 23 top UK new businesses in the clean technology sector. More details at www.greenbang.com.

Aquamarine Power was named 'Emerging Technology Promoter of the Year' at the Global Renewable Energy Awards 2008. More details at http://www.euromoneyenergy.com/default.asp?Page=11&eventid=ECK50.

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