The only question was how they managed to survive so long - probably only because they were one of the first movers in the industry. Sure you can get these things to work, sort of, but making a mechanical snake that survives floating on the surface, and produces power economically - hello?!
If CWE get this right there will be a lot of officials in countries like Scotland that will be staring at their own stranded assets and unused wave farm leases and will compete aggressively to secure those very few devices that work - to save their own backsides from embarrassment . CWE could very well see itself in a position of a lot more power relatively quickly.
CWE Price at posting:
5.8¢ Sentiment: Buy Disclosure: Held
