AWS said the investment secured from Alstom will give it the financial strength to expand its operations and accelerate the development of its AWS-III wave power technology.
Alstom becomes a shareholder in AWS along with the Shell Technology Ventures Fund 1 (managed by Kenda Capital) and Scottish Enterprise/Scottish Investment Bank.
AWS chief executive Simon Grey said that with Alstom as a major backer, AWS has a delivery capability which its utility customers will need in order to realise their major wave energy projects in Scotland and elsewhere.
With the acquisition of equity stake in AWS, Alstom has made its first-ever investment in the wave energy sector.
