Our member Seabased has sold 10 % of its shares to Finnish power utility Fortum for an undisclosed fee. Sebastian Johansen, Senior Technological Expert at Fortum, said: “We have worked closely together during the wave power project in Sotenäs and believe there is a potential for a commercially viable solution, something Seabased now will continue to develop. Fortum is looking forward to future co-operation with Seabased from its new role as an owner.”
Oivind Magnussen, CEO of Seabased, added: “We are happy to have Fortum as our new shareholder. To have a major player such as Fortum onboard is a commitment in Seabased as we move towards commercialization.”
Source: http://tidalenergytoday.com