EU backing for Basque wave
Arrecife Energy Systems receives €50,000 grant from Horizon 2020 initiative
Basque company Arrecife Energy Systems has secured a €50,000 grant from the EU to help develop its wave power technology.
The finance has been awarded through the Horizon 2020 EU Program for Investigation and Innovation.
It will be used to explore and evaluate the technical feasibility and commercial potential of Arrecife’s technology.
Arrecife Energy Systems chief executive Iñigo Doria Elejoste said: “Receiving €50,000 from Europe in such a strict programme is wonderful news for us, and it encourages us to keep on working.”