Oceanlinx plans AIM listing |
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Fri, 26 Oct 2007 09:16
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LONDON (Thomson Financial) - Wave energy company Oceanlinx Ltd said it plans to list on the London Stock Exchange's Alternative Investment Market, adding that it has a supportive investor base and is backed by a number of international institutional investors.The company said it will continue to actively seek new opportunities and convert existing prospects into further contracts, and announced a slew of commercial deals.These include a letter of intent signed with South West of England Regional Development Agency for a 5 megawatt facility as part of the Cornwall Wave Hub, expected to become operational by fourth quarter of 2008.Oceanlinx added it is in advanced stages to obtain regulatory permits for 18, 1.5 megawatt units in Victoria, Australia, tipped to be the largest offshore wave energy project in development in the world.Wave energy refers to the process of extracting energy from ocean waves and converting it into electricity, or providing industrial and potable water from sea water.TFN.newsdesk@thomson.comapm/faj/jrrCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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