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Aquamarine swings jobs axe

5 December 2014
 
Aquamarine swings jobs axe
Wave energy company Aquamarine Power has revealed plans to lay off a "significant" number of staff as part of a restructuring of the business. Chief executive John Malcolm said the move followed a strategic review and was a “consequence of the considerable financial, regulatory and technical challenges faced by the ocean energy sector as a whole”. The planned changes will involve retaining a core operational and management team to run the business and maintain its Oyster 800 wave machine at EMEC. The news comes at the end of a momentous fortnight for the wave and tidal sector that has seen Pelamis Wave Power enter administration and lay off 40 staff, and Siemens abandon ocean energy and divest of Marine Current Turbines.
 
 
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