A cooperation agreement covering the development of wave power technology has been signed by Swedish utility company Vattenfall AB and Wavebob Ltd of Ireland. Under the terms of the agreement the two companies will collaborate on bringing prototype wave power devices to readiness for full-scale commercial wave power farms.

"Our cooperation with Wavebob will make the wheels turn faster. Therefore, I am convinced that we will see the first European large-scale commercial wave power plants in operation in 10-15 years from now." --Lars Stromberg, VP of R&D, Vattenfall