Marine Link
Monday, December 5, 2016

Fortum Buys Stake in Wave Power Startup

September 1, 2014

 

Finland's top utility, state-controlled Fortum, on Monday said it has acquired a 14 percent stake in Finnish wave energy developer Wello.

Wello has developed a floating vessel that captures energy from waves and converts it into electrical power with a generator, Fortum said.

It did not disclose the value of the deal.

(Reporting By Jussi Rosendahl; Editing by Michael Urquhart)



 



 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News