London AIM listed Ocean Power Technologies , earlier this week announced much reduced annual losses. Net losses for the year to 30 April came in at $429,000 against $2.85m a year ago on revenue up 14% to $5.4m.

The company's technology incorporate a "Powerbuoy" that captures wave energy from the rising and falling of the waves to drive an electrical generator.

Many view wavepower as having a much more popular future than windpower as it can be located out of sight, yet relatively near population centres and above all, provides predicatable power.

The flipside is that this is not quite off the shelf technology. It is more like where the wind industry was in the 1970s and costs are invitably higher. Right now it looks experimental - more like the fuel cells sector.