Aquamarine Power appoints new chair and director
2 Jul 12
Wave energy developer Aquamarine Power has today named Paul
Capell as its new chairman. He replaces Mervyn Jones who has
served as the company's chairman since 2007.
An experienced CEO and chairman, Capell has worked extensively
in the renewable energy, water, oil and gas sectors and has a 30
year track record in starting, acquiring, building and exiting
successful international businesses in the UK and overseas.
He will chair Aquamarine Power's Board of Directors which
includes representatives from the company's leading shareholders
SSE, ABB and Scottish Enterprise.
Capell is a founding director and CEO of EIDC Ltd, an
environmental infrastructure development company which develops and
funds waste and waste to energy projects. He also serves as
non-executive chairman of Aerothermal Group Ltd, a waste to energy
technology company. Previously Capell served for ten years
with the Weir Group as part of their executive management team and
sat on the board of United Utilities.
Aquamarine Power has also appointed John Malcolm to its Board as
a non-executive director.
Malcolm is an independent energy consultant with a broad
international experience. Previously, he served for 25 years with
Royal Dutch Shell in a number of senior roles including Managing
Director of Petroleum Development Oman and General Manager/Managing
Director of Al Furat Petroleum Company.
Martin McAdam, Chief Executive Officer of Aquamarine Power,
"Paul and John bring a winning combination to the table at
Aquamarine Power - a wealth of experience and expertise gained in
major established businesses along with an abundance of enthusiasm
for the emerging marine energy sector. It's a combination
which will prove invaluable as we enter the next exciting phase in
our journey towards commercialisation. I'd like to welcome Paul and
John to Aquamarine Power on behalf of the whole team and the rest
of our Board of Directors."
"I would also like to take this opportunity to thank Mervyn
Jones who has been with us as chairman since the early days of
Aquamarine Power. Mervyn has been instrumental in guiding us
through many major milestones and challenges and has put in place a
strong foundation of good corporate governance which will serve us
well in the years ahead. I would like to thank him for his
commitment and support which has helped us get where we are
Paul Capell said:
"I have watched Aquamarine Power's growth and success over
recent years with interest and am delighted to now be part of such
an exciting company as it approaches the next important phase in
John Malcolm said:
"I am delighted to be involved with such an innovative and
progressive company and am looking forward to working with the team
at Aquamarine Power."
Last month, operational testing of Aquamarine Power's
second-generation Oyster 800 wave energy machine commenced at the
European Marine Energy Centre near Stromness in Orkney when the
machine produced first electrical power to the grid.
In the coming weeks each component of the device will be tested
including the hydraulic and electrical power systems to ensure safe
and reliable operation.