Oceanlinx, a leading renewable energy company based in Australia with a unique and efficient system for extracting energy from ocean waves, today publically announced it has closed a significant funding round with a European-based investor syndicate comprising the New Energy Fund, Espírito Santo Ventures and Emerald Technology Ventures.

The proceeds of this investment will be used in the development and acceleration of the new generation of Oceanlinx technology and to further progress the development of its key projects. The Company has operated a full scale prototype at Port Kembla in Australia, since 2003. It is also developing its technology to utilise its wave energy units to produce desalinated water.

The Oceanlinx CEO, Ali Baghaei, said: “We are delighted to have this additional funding from the New Energy Fund, Espírito Santo Ventures and Emerald Technology Ventures. All of these entities are very well respected in the cleantech and renewable energy investment sectors and the funding will allow us to aggressively pursue this pathway to commerciality. We are especially pleased with the magnitude of this investment round given the current global economic conditions and the difficulties that have been met by other emerging companies in raising funds. The confidence shown by the investors by providing funding in Oceanlinx at this time is testament to our belief that Oceanlinx’s technology and its project opportunities have positioned it to take the leading role in the emerging wave energy sector by establishing genuinely commercial power production facilities”.

For further information: 
Ali Baghaei, Chief Executive Officer, Oceanlinx 
Office: +61 (2) 9549 6300 
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