Wave energy developer, Aquamarine Power, announced that it has successfully raised an additional £6 million of funding. This follows the recent unveiling of the design of its Oyster 2 device which will be built in Scotland later this year. The proceeds of the fundraising will be used to fund the procurement program and provide general working capital.

Earlier this year Aquamarine Power secured an award from the Carbon Trust's Marine Renewables Proving Fund (MRPF) to support the manufacture of Oyster 2.