£7m funding open for bids to develop Scottish wave power technologies

wave power generalBusiness consultancy TBAT Innovation is encouraging energy companies to enter a funding competition to help capture and develop tidal energy into a commercially viable energy source.

Wave Energy Scotland (WES), funded by the Scottish Government, has launched four new competitions with a total budget of up to £7 million to fund the development of new energy conversion solutions in the wave energy sector.

Wave Energy Scotland is interested in new technology and technology transfer from other sectors, as well as proposals to bring about significant changes in the performance of existing technologies. Up to 100% funding is available and the competition is open to any organisation registered in Europe.

Around 10% of Europe’s total wave resource flows in the seas surrounding the Highlands and Islands of Scotland. Research indicates that up to 14 gigawatts of recoverable energy lie off the area’s western and northern flanks. This natural resource has drawn world leading wave energy device developers to the area.

Sam Stephens, TBAT Director, commented: “Wave energy is one of the most powerful global energy sources, but is yet unharnessed. The sector support offered by Wave Energy Scotland is unique in that it offers long-term commitment to the sector, and will take innovative technologies from concept to being ready for private sector investment. This is a process that is anticipated to take up to ten years to adequately prove technology and ensure quality.

 “Our team specialises in sustainable energy and in the last 12 months alone our consultants have helped business secure over £20 million in grant funding. There is now a two-month window to apply, so we urge interested parties to get in touch to apply for the funding that can help realise their R&D projects.”

The deadline for application is 22 May 2015.


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