Wave Energy Scotland will receive a total of GBP 14.3 mln over the period of following thirteen months, Scotland’s Energy Minister Fergus Ewing announced today.
Wave Energy Scotland’s first contract will be the collaboration with 12 former Pelamis employees, led by former Pelamis’ Chief Executive Richard Yemm.
This will allow the former Pelamis staff to continue with the technology development that will benefit the wave energy industry sector, Scottish Government’s press release reads.
The Scottish Government will provide GBP 1.3 mln for the current financial year, and additional GBP 13 mln will be provided in 2015/16.
The GBP 1.3 mln budget for this financial year covers the costs of establishing the new entity and the costs of the acquisition of intellectual property and other assets from Pelamis Wave Power, and the additional GBP 13 mln will enable WES to address a range of technology priorities, including power-take off systems, control systems, moorings and foundations, as well as staff recruiting process which is scheduled to begin in March 2015, the press release reads.
Fergus Ewing said: “I am very pleased to offer a significant budget of over GBP 14 million to kick start Wave Energy Scotland. This is the biggest technology development programme the wave sector has ever seen.
“We have adopted a completely new approach to funding the sector. It is one that will foster collaborative research and development and will encourage technology developers to work with large engineering companies, academics and each other to address shared challenges.”
Scotland has established Wave Energy Scotland (WES) in order to encourage innovation in the wave energy industry industry. On January 19, 2015, Highland and Islands Enterprises (HIE) has obtained Pelamis’ assets on behalf of WES , thus retaining the physical assets previously owned by Pelamis and intellectual property as well, in Scotland.
Image: Pelamis Wave Power