Norsk Hydro Invests in Wave Power

2002-03-21 [] Norsk Hydro Technology Ventures, Norsk Hydro ASA’s venture capital vehicle within energy, said it will act as lead investor for a group investing in a new wave power generation concept developed by Scottish start-up company Ocean Power Delivery. Together with SAM Private Equity in Switzerland and 3i Group PLC, they are committing STG 6 million (EURO 9.8 million) in equal shares with the aim of getting a working prototype in the water, producing electricity to the grid within two years.

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