Edinburgh-based tidal power developer Nova Innovation has won £40,000 in equity-free funding in the Shell Springboard competition for low-carbon energy entrepreneurs.
As a result, Nova Innovation now also progresses to the 2017 UK Shell Springboard national final to be held in London next month – at which the overall winner will receive a further £110,000, taking their total equity-free funding to £150,000.
Nova Innovation designs, builds, installs, commissions and operates tidal energy projects.
The Shell Springboard regional winners were selected by a panel of four judges at the Aberdeen regional judging and awards event, all leading professionals in the low-carbon sector comprising:
- Ed Craig, Head of Enterprise & Innovation, Edinburgh Centre for Carbon Innovation
- Morag McCorkindale, Team Leader, International Trade and Investment, Aberdeen Council
- Professor Paul Mitchell, Director, Offshore Renewables Institute at Dundee University
- Professor Gary McEwan,Chief Executive at Elevator
Shell Springboard host Angus Gillespie, Vice-President for CO2 at Shell, said: “These independent energy judges have chosen fantastic companies with innovations that are not simply interesting, but have potential to deliver genuine impact in reducing carbon emissions.
“Out of 130 applicants they stood out as great examples of entrepreneurial companies setting the pace in the UK’s low carbon sector. We are proud to be helping smart companies like these to grow and, through them, supporting the development of the UK’s low carbon sector.”