News story

Wave energy converters: apply for business funding

Businesses can apply to Wave Energy Scotland for a share of up to £2.4 million for contracts to develop novel wave energy converters.

Wave Energy Scotland is seeking applications from businesses for SBRI (Small Business Research Initiative) development contracts for novel wave energy converter devices which will provide up to 100% of project costs.

Devices should be specifically focused on the prime mover and structure that captures the energy of the wave.

Wave Energy Scotland is part of Highlands and Islands Enterprise and was set up to support and accelerate the development of wave energy technology in Scotland.

It is estimated that around 10% of Europe’s total wave resource flows in the seas surrounding the Highlands and Islands of Scotland. This has drawn world-leading wave energy device developers to the area.

The Scottish Government has set ambitious targets for electricity generation from wave and tidal resources to contribute to its target of securing 100% of Scotland’s electricity requirements from renewable sources by 2020.

Up to £300,000 per project is available for the first stage of the competition. Successful projects at stage 1 can then compete for stage 2 and stage 3 funding.

A briefing webinar will take place on 18 June 2015. The deadline for applications is noon on 13 August 2015.