The chief executive of troubled Scottish wave energy firm Aquamarine Power has been elected to the board of an influential European trade body.
John Malcolm’s appointment to the management group of Brussels-based Ocean Energy Europe (OEE), a group which plays a strong role in influencing wave and tidal energy policy in Europe, came a week after major cuts were announced at the Edinburgh-based Oyster 800 wave power device developer.
The firm’s move to significantly downsize its operations it is thought its headcount could drop to less than 20 from more than 50 was a second hammer blow to Scotland’s green energy ambitions following the collapse into administration of fellow wave energy pioneer Pelamis last month.
Mr Malcolm, who was co-opted on to OEE’s board along with Oliver Wragg from the Orkney-based European Marine Energy Centre, Keiran O’Brien of Carnegie Wave Energy, Tony Lewis of HMRC, Jochen Weilepp of Voith Hydro and Jose Luis Villate of Tecnalia, said “incredible opportunities” remained for the wave industry.
“The recent events in the wave energy sector have underlined the significant challenges faced by the ocean energy sector in securing the long-term private and public investment required to bring new technologies to commercial maturity,” Mr Malcolm said.
“Recent policy initiatives including the European Commission SI Ocean project have clearly outlined the incredible opportunities this industry offers through jobs, economic growth and green energy.
“However for the wave industry, these benefits will not be fully realised until into the next decade and I believe the European Commission has a crucial role in providing the long-term, stable support the wave sector so clearly needs.
“Through my election to the board of Ocean Energy Europe, I will work alongside other members and fully support their endeavours to promote and support an industry which can provide energy security, green power and economic prosperity across Europe in the decades ahead.”
The move came on the same day as administrators closed bids for Pelamis.
KPMG last week said it had been encouraged by the level of interest in the business, but there was no immediate update available on the sales process following yesterday’s deadline.