P2-towed-in-Forth-with-yokeThe Edinburgh Reporter has confirmed with the company this morning that both the CEO of Pelamis Wave Power, Neels Kriek, and the CFO, Diana Dyer Bartlett, are set to leave the company.

It has been rumoured in the business community that both are said to have left “by mutual consent”, although the company spokesman would only confirm that they were leaving and would not comment on the specifics of the departures.

The company say they will be making an official statement about this later today, but claim it is not a big surprise as Kriek was brought in to handle an investment process which they say is now completed. They allege that he was brought in as an interim CEO and it was not expected to be a long-term position.

Kriek is the second CEO who has led the wave power company in the last few years. He joined the company in November 2009, while Ms Bartlett, the CFO, is stated on the firm’s website to have joined them in August 2007.

The last press statement from Pelamis about funding is in November 2008 when they announced the completion of a £5m funding round. Although they have received some grant funding this year there have been no announcements from them to confirm that their most recent funding round is yet complete.

Pelamis was founded in 1998 with the aim of developing the Pelamis Wave Energy Converter.  They have several major investors including Scottish Enterprise.

Update at 22.51:- Above story confirmed on the Pelamis Wave Power website by a news release. You can link to it here.

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