Following this morning’s news on Business Cornwall, Orecon CEO David Crisp has confirmed that the wave development company has closed down.
He said: “Due to lack of funding Orecon has regrettably closed down operations. We remain convinced that wave power represents a huge source of clean renewable power and a major market opportunity, we look forward to seeing the industry reach its full potential in the years to come.”
The news makes a mockery of the SW Low Carbon Economic Area for wave power – four of the six beneficiaries were Scottish and another was from London. The Carbon Trust sunk Orecon.
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