The Swedish Energy Agency (SEA) is to invest Skr105m (€10m) in marine energy to support the export of Sweden's technology and expertise in the sector.
The funding, which is part of SEA's Marine Energy Strategy launched last year, will cover the 2018 to 2024 period.
SEA said the objective is to increase collaboration between industry players and support technologies that have the potential to be commercialised by 2030.
SEA programme manager Marit Marsh Stromberg said: “The purpose of our investment in marine energy is, in addition to contributing to future global renewable energy systems, also to create opportunities for enabling increased Swedish exports and increasing Swedish jobs.”
Minesto chief executive Martin Edlund said: “It is pleasing to see the agency’s focus on concepts with export potential that can contribute to the global energy transition.”