Bloomberg News

Trident Finds Angels to Back Marine-Power Generation Technology

March 22, 2013

Trident Energy Ltd., a U.K. marine energy developer, raised about 440,000 pounds ($668,000) from so-called angel investors to develop its generation system.

The London Business Angels network and Angel CoFund offered the funds, Trident said today in a statement on its website. The company, based in London, will use the money to test a prototype at sea as it moves its technology toward commercial operations.

The PowerPod can be added to devices that convert wave and tidal-energy into electricity and be used to generate power for offshore infrastructure such as oil platforms. Trident expects to test its technology off western Scotland for about a year.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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