Wave of Losses Swamps Marine Energy Sector

GALWAY, IRELAND--December 9, 2014 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) The budding marine energy sector has been rocked by more bad news as Aquamarine Power Limited (Edinburgh, Scotland) announced that it was significantly scaling down its business and German engineering giant Siemens AG (NYSE:SI) (Munich, Germany) announced its exit from the sector after just two years.

Aquamarine Power claimed that a mix of challenging regulatory, financial and technical reasons were behind the decision to downsize the business.