Wave energy firm looks to raise £6m

Wave energy firm Anaconda is looking to raise £6m by the end of the year to finance the testing of its devices in the ocean, City A.M. has learnt. The UK-based firm – which wants to harvest wave power in the sea – is targeting both institutional investors and high net worth individuals for the £6m and is aiming to float in the long term. “We have had to address intellectual property issues, but these should be completed by October so we can begin fundraising then,” said chief executive Paul Auston.