News story

Wave energy: £7 million for innovative energy conversion projects

Opportunities for businesses to develop new power take-off technologies with Wave Energy Scotland

Picture of a wave breaking

Wave energy offers significant market potential

Businesses can now bid for a share of £7 million from Wave Energy Scotland (WES) as part of its long-term programme of support for commercialisation of the wave energy sector.

With funding from the Scottish Government, WES is seeking innovative proposals for research and development of secondary energy conversion technology – known as power take-off (PTO) systems.

Wave energy is a renewable energy resource with significant market potential. Globally, the International Energy Agency has forecast that projects with a capacity of up to 130GW (gigawatt) could be in place by 2050, should the technology become cost-competitive with other forms of renewable energy.

WES is part of Highlands & Islands Enterprise (HIE) and takes an innovative approach to supporting the commercialisation of the wave energy sector, using SBRI. It will take innovative technologies from concept stage to being ready for private sector investment.

WES expects this to take up to 10 years, using a technology development process that focuses on proving technology and engineering quality.

Published 24 March 2015