EU backing WaveSub
Marine Power Systems receives £2m to fund prototype
The Welsh government will today unveil £2m of EU funds to test Marine Power Systems’s one quarter scale prototype of the WaveSub wave energy device.
The £3m project, which includes a £900,000 investment from MPS, will allow the prototype to be developed and tested, “paving the way for a full-scale device that will be deployed off the Pembrokeshire coast and eventually launched in the commercial market”, the Welsh government said.
It has been working with MPS for a number of years to support the development of the technology and the WaveSub concept.
The funding will be formally announced during a visit by Finance and Government Business Minister Jane Hutt to MPS to hear about the WaveSub development.
Hutt said: “We are committed to working with investors and businesses to boost economic growth and create highly skilled jobs, so I’m delighted that £2m of EU funds are being invested to bring WaveSub another step closer to full-scale deployment.
“Marine renewable energy has huge potential and we are investing £80m of EU funds in this area over the next six years - including support to enable the development of two demonstration zones off the coasts of Pembrokeshire and Anglesey.”
MPS managing director Gareth Stockman said: “Our innovative technology has the potential to make a significant contribution to global renewable energy targets. Marine Power Systems has made substantial progress and it is fantastic to get our hard work endorsed through further support.”