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March 04, 2008
Wave Energy's ORECon Raises $24M
Anyone with a solar cell can raise funds these days it seems and now some of that magic may be spreading to other alt energy fields. Today UK-based ORECon has raised a big $24M first round. The round was led by Advent Venture Partners with Venrock, Wellington Partners and Northzone Ventures.
ORECon plans to build a 1.5MW generator with the capacity to deliver grid compatible power ashore, based on wave energy.
Wave energy is an appropriate focus for CEO David Crisp. He took a sabbatical from 2002 – 2004 (2 years when as the skipper he circumnavigated the Atlantic Ocean. He sold his home in San Francisco, purchased a yacht in Southern France, crossed the Atlantic to the Caribbean, sailed back to UK, sold his yacht, and returned to full-time work in the UK.
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Posted on March 4, 2008 06:56 AM | Posted to Alternative Energy | Permalink
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