• STV
  • MySTV

Administrators for wave energy firm axe majority of employees

Of the 56 staff members, 40 have been made redundant as a buyer is sought for the company.

Wave Power: Development could power 7000 homes.
© Pelamis Wave

Administrators for a wave energy company have made 40 employees redundant.

Pelamis Wave Power went into administration last Friday, saying it had not secured enough funding to develop its technology.

The company employed 56 people in Edinburgh and Orkney, 40 of which have been made redundant since administrators were appointed.

This leaves 16 staff, 13 in Edinburgh and three in Orkney, who will continue to work with the administrators.

Blair Nimmo, from administrators KPMG said: "The financial situation of the business is such that we have had to take the difficult choice of making a large proportion of staff redundant.

"We will be working with the employees and the relevant government agencies to ensure that the full range of support is available to all those affected. We would like to thank the staff for their co-operation during this difficult period.

"We will do everything we can to seek a buyer who may be able to protect the business, its skilled workforce and see the continuation of the groundbreaking advances Pelamis has made towards renewable energy production."

Pelamis was founded in 1998 and designs, manufactures and operates wave energy machines.

Download: The STV News app is Scotland's favourite and is available for iPhone from the App store and for Android from Google Play. Download it today and continue to enjoy STV News wherever you are.

Join in: For debate, chat, comment and more, join our communities on the STV News Facebook page or follow @STVNews on Twitter.

Updates: Would you like STV’s latest news update in your inbox every morning? Choose from our range of regular e-newsletters here

One account. All of STV.

This field is required. That doesn't look like a valid e-mail format, please check. That e-mail's already in our system. Please try again.
ShowHide
Forgot password?
This field is required. At least 6 characters please. Did you enter your details correctly?
If you've forgotten your details then use the 'Forgot password?' link.
Need to reset your password?

We'll send a link to reset your password to

We've sent you details on how to reset your password

Please check your email and follow the instructions.

Forgotten your email address?

Have you forgotten the email address that you previously joined with? Don't worry, by emailing enquiries@stv.tv we can help.

One account. All of STV.

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
At least 6 characters please
ShowHide
This field is required. At least 6 characters please.
You have to be 16 or over to join
This field is required. This doesn't appear to be a valid date
Type your full postcode and select your address This field is required. It doesn't look like you've entered a valid postcode. Can't find your address? Confirm the details you've given us are correct by clicking here

By continuing you agree to our Terms of Use, including our Privacy Policy and Cookie Policy. Any issues contact us.

Upload Profile Picture

Please make sure your image is under 2mb in size and a valid JPG, PNG or GIF.

Are you sure?

Unfortunately, you'll be unable to access our premium content. We’ll be sorry to see you go, but if you change your mind you can rejoin us at any time.

Please verify your STV account

Please verify your STV account using the email we sent you. If you have lost the email, we can send you another one, just click the button below.

Thanks

We've sent you a new verification email.
Please check your email and follow the instructions to verify your account.

Welcome to STV
Thanks for joining us.

Oops!

Sorry, you must be at least 12 years old to place a vote for your Real Hero.

Please review our Voting Terms of Use for more information.

Oops!

Sorry! It seems that you are using a browser that is incompatible with our voting service.

To register your vote please copy the below URL in to your regular mobile browser. We recommend Google Chrome, or Safari.

http://shows.stv.tv/real-heroes/voting

Oops!

Sorry, you seem to have already voted in this category.

Thanks for voting

Now share your vote with friends on your social network

Share on twitter Share on facebook

Cast your vote

Please register or sign in to continue.

Cast your vote

This field is required. This doesn't appear to be a valid date

Cast your vote

Please fill out this form to cast your vote. As you are under 16 years old you will not create an STV account. Why do we need these details?

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
This field is required. That doesn't look like a valid e-mail format, please check.
Location This field is required.
Parental Consent This field is required.

That's you. All that's left is to click the 'Submit Vote' button below. By doing so, you confirm that you and your parent or guardian have read and accept our Voting Terms of Use, Privacy Policy and Cookie policy, and that the details you have entered are correct. We'll look after them as carefully as if they were our own.