New Wave of Scottish Marine Energy Investment
August 30, 2012 | 
Author £7.9 million funding shared between five marine energy developers
Five marine energy developers will share £7.9 million funding to support the testing of new wave and tidal energy prototypes in the seas around Scotland.
The supports marks the second round of WATERS (Wave and Tidal Energy: Research, Development and Demonstration Support) funding, enabling Scottish developers and supply chain firms to remain at the forefront of the global marine energy market, an industry that could be worth £4 billion to Scotland’s economy by 2020.
The recipients of the funding, announced by Scotland’s Deputy First Minister Nicola Sturgeon, include:
- Scotrenewables Tidal Power Limited:
awarded £1.2 million grant towards £9.2 million total project cost to design, construct and install a two-megawatt commercial scale floating tidal turbines - AlbaTERN:
£617,000 towards £1.3 million cost of deployment of WaveNET demonstrator array comprising six SQUID 7.5kW wave energy converters - AWS Ocean Energy:
£3.9 million towards £15.6 million cost to design, build and launch stages of a project to prove the AWS-III WEC at full scale - Nautricity:
£1.4 million towards £4.9 million cost for building and testing of a full-scale, pre-commercial CoRMaT 500kW tidal turbine - Oceanflow Development:
£750,000 towards £1.3 million cost for building and field-testing of quarter-scale prototype twin-turbine tidal energy converter, Evopod TE70
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