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29/09/2011

SeaEnergy Exec Chairman says the company has a very exciting story

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Additional Information
Market: AIM
Sector: Cleantech and Renewable Energy
EPIC: SEA
Latest Price: 28.50p  (-0.87% Descending)
52-week High: 71.50p
52-week Low: 23.50p
Market Cap: 19.70M
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SeaEnergy PLC (formerly Ramco Energy plc) is a Scottish public limited company headquartered in Aberdeen, Scotland.

In September 2009 the board announced the intention to focus the group on renewable energy, specifically offshore wind. SeaEnergy in mid-2010 specified it would concentrate on marine services for the offshore wind power industry, following an assessment of the equity markets, investor sentiment and the funding environment. 

It is in the process of selling its 80%-held renewable energy operating subsidiary SeaEnergy Renewables Limited which currently has interests in three offshore wind farm projects in development, totalling 3,125GW of capacity.

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SeaEnergy wins Scottish Enterprise grant

15th Nov 2011, 10:10 am by Jon Mainwaring SeaEnergy is developing operations and maintenance vessels to service the offshore wind industry

SeaEnergy (LON:SEA) announced this morning that it has secured further funding support to the tune of £88,500 from Scottish Enterprise to advance its plans to establish an offshore wind farm support business.

The funding is supplementing £345,000 invested by SeaEnergy itself into the detailed design and tank testing for the firm’s X-Bow vessel, which is intended for use in operations and maintenance connected to offshore wind farms.

The funding support is made up of three separate grants from Scottish Enterprise: £21,600 to support strategic development costs; a £40,000 research and development ‘optimum hull’ grant; and a £26,910 grant to support intentional marketing.

“We’re very grateful to Scottish Enterprise for its support of our emerging SeaEnergy Marine business,” said Steve Remp, SeaEnergy’s chairman. “These grants have helped to de-risk investment, drive development and allowed us to pursue near term commercial opportunities for our vessel system.”

The firm also said today that it had recently enjoyed success at the Carbon Trust Offshore Wind Accelerator Access competition, with its entry being placed in the top 20 of more than 450 and was commended by the competition’s judges for its potential to increase the availability of access to offshore wind farms.

Shares in SeaEnergy were down 1.3 per cent at 27.75 pence each in early-morning trading today.


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