World-leading wave energy technology company Wavebob Ltd. has closed an investment round with GREinvest Management Ltd. the early stage, renewable energy project developer, with operations in the UK, Romania and Bulgaria.

This investment will provide Wavebob with sufficient capital to maintain its ambitious work programme and continue to meet the expectations of partners and shareholders during 2012.

Michael R. Jacobson, Co-founder and Director of GREinvest Management Ltd. noted that;, “despite the pressures of the continuing global financial crisis, Wavebob Ltd. has not only weathered the financial storm, but has also managed to plough ahead with the development of its unique wave energy converter. We at GREinvest are therefore very excited by this investment and we look forward to a mutually beneficial working relationship over the coming years.”

 
Wavebob Ltd.’s successful business strategy entails the development of relevant partnerships, investments and working agreements with multinationals in the energy and technology sectors. The strategy has enabled the company to withstand the global financial pressures facing most technology developers in this space. In recent years, Wavebob Ltd. has secured deals with international heavyweights such as Vattenfall, Chevron, Abengoa. Continued support from Government agencies in Europe and the US has also ensured that the company has progressed its technology in line with its objectives and ambitions.

This investment from GREinvest Management Ltd., will, according to Wavebob Ltd.’s CEO, Andrew Parish, further enhance the company’s network of industry investors who bring relevant experience to the Wavebob mix. “This welcome investment is a vote of confidence in our business strategy and technology development. We are grateful to GREinvest for their support and look forward to benefiting from the knowledge and energy that they will bring to our company.”