Green Ocean Energy Announces Senior Appointments

Monday, 23 March 2009

Green Ocean Energy, the Aberdeen-based renewables company has announced two senior appointments to its board of directors.

Scottish chartered accountant Bob Craig and notable industry expert Alistair Lauchlan have joined Green Ocean Energy as non-executive directors. Their arrival significantly strengthens the firm’s offering as it prepares to launch its pioneering wave technology to the market place.

George Smith, managing director of Green Ocean Energy, said: “The company is growing at a rapid rate and it’s great to be joined by two such experienced and dynamic professionals who will help us take the company forward.

“We are currently speaking to investors with a view to securing financial support which will enable the continuing development of our Wave Treader and Ocean Treader devices.  I’m sure Bob and Alistair will provide invaluable support in helping us achieve that. We look forward to a long and successful working relationship with them.”

Both Bob and Alistair have extensive business experience and will join George; special projects director, Graeme Bell and analyst engineer Tamas Bodai at the company.

Bob has held directorships in several companies including his family bus business West Coast Motors. He has been non-executive director of Loch Fyne Oysters Limited since 1990 and chairman since 2002 and set up Loch Fyne Restaurants in 1997. Alistair joined mechanical engineering company John M Henderson & Co Ltd in 1995 and became finance director in 2002. He has extensive experience of manufacturing within the oil and gas industry and also conducted the management buyout of the company which was completed in 2006 afterwhich he assumed the role of managing director. Both men will work for Green Ocean Energy on a part-time basis.

Alistair added: “This is a fantastic opportunity to be right at the forefront of this new and exciting sector. Working with a company such as Green Ocean Energy offers the opportunity to help realise the huge potential that exists in wave power technology.”

Green Ocean Energy, in Carden Place, has developed two groundbreaking wave energy machines called Ocean Treader and Wave Treader. Using similar technology, they harness wave energy and convert the motion into electricity.

Wave Treader attaches to an offshore wind turbine to provide combined wind and wave energy. The device has already attracted attention from major utilities company, npower, which provided financial support during Wave Treader’s feasibility studies. It is believed the device could have a major impact on helping the UK hit its sustainable energy targets.

Ocean Treader is a stand-alone wave device that uses the similar technology as Wave Treader but is a fully floating device designed for offshore ocean deployment.

A scale prototype of the Ocean and Wave Treader devices are currently undergoing testing at a wave tank at Strathclyde University.