Wave energy developers’ £7m support fund

People involved in the development of wave energy technology in Scotland will be able to find out more about a £7million support fund in a special online webinar next Tuesday (31 March).

Wave Energy Scotland (WES), part of Highlands and Islands Enterprise (HIE), is funded by Scottish Government. It launched its first international technology innovation competition earlier this month.

The organisation issued a competitive project call for innovative power take-off (PTO) systems. This invited applications from technology developers requiring investment to advance their technology through rigorous testing and towards commercialisation.

Successful applicants will be eligible for contracts that cover up to 100 percent of the cost of their technology development project. Contracts will range from between £100,000 and £4 million, depending on the maturity of the technology.

WES’s first webinar, which starts at 0930 on Tuesday, will be an opportunity for developers to ask questions and hear first-hand about the types of projects that may be supported through this initial fund. People can register for the webinar at www.hie.co.uk/weswebinar

Tim Hurst, interim director of WES, said:
“This is an exciting time for the wave energy sector. There has already been a lot of interest in the first project call for Power Take-Off systems.  We’re keen to see applications from across the energy industries and other sectors as we begin the programmes to find innovative solutions to the cost effective generation of wave energy.

“The webinar is an ideal opportunity for anyone to hear about the initial thoughts on how we think Wave Energy Scotland will operate going forward.  Our aim is take wave energy technology to a stage where commercialisation is not only possible, but attractive to private investors who may once again re-enter the sector.”

Applicants seeking support from the fund will need to register by 15 May and submit their proposals by 22 May. Contracts will be awarded at the end of June.

Tuesday’s webinar will be made available to watch again after the live webcast.