Technology Strategy Board welcomes new investment in Marine Energy

22 Sep 2009


Technology Strategy Board welcomes new investment in Marine Energy

The Technology Strategy Board has welcomed today's announcement by Lord Hunt that marine energy developers will be able to apply for funding from the Carbon Trust for the Marine Renewables Proving Fund. The £22 million Fund, announced earlier in the year in the Renewable Energy Strategy and launched today, will enable the marine industry to access funding for projects leading to at-sea demonstration of cutting edge prototypes.

The Technology Strategy Board, the Carbon Trust ,The Energy Technologies Institute and the Department of Energy and Climate Change (DECC) are all working alongside each other to help deliver the government's wave and tidal commitments, outlined in the UK Renewable Energy Strategy.

In line with this spirit of collaborative working, The Technology Strategy Board announced today that it will provide funding to complement the type of project supported under the Marine Renewables Proving Fund, delivering targeted support for longer-term projects through a new competition that will be launched in spring 2010.

Iain Gray Chief Executive of the Technology Strategy Board said:

"The Technology Strategy Board is working alongside government and other partner organisations such as the Carbon Trust and the Energy Technologies Institute to accelerate and support the development of innovative technologies that will help the UK meet commitments on emissions cuts and transform the country into a cleaner, greener and more prosperous place to live.

"We are pleased to be able to confirm that we will run a future programme of activity complementary to the Marine Renewables Proving Fund activity announced by the Government and the Carbon Trust today. "

"The Technology Strategy Board's competition will be specifically designed to complement the Proving Fund and facilitate the development and application of innovative technologies, which will support the marine sector's key challenges and objectives including amongst other things: improved performance and efficiency, cost reduction, and the development of new technologies. "

The Technology Strategy Board will work with the marine community and its supply chain over the coming months to develop the full details of the competition. Ends


Issued by

Claire Cunningham
Media Relations Manager
Technology Strategy Board
Switchboard: +44 1793 442700
Direct line: +44 1793 442901
Mobile: 0755 4115745

For full press release including notes to editors please follow this link - Technology Strategy Board welcomes new investment in Marine Energy


Last updated on Monday 02 August 2010 at 12:42

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