Australian marine developer Bombora Wave Power has been awarded £10.3m of European funding to build a 1.5MW demonstration project in Wales.

The grant will support the design and testing of a fully-submerged, membrane-style mWave device off Pembroke Dock.

The funds have been allocated from the Welsh European Funding Office’s €100.4m pot for wave and tidal projects.

Wales Finance Secretary Mark Drakeford said: “We want Wales to be at the forefront of research and innovation in the marine energy field and I am delighted to announce more than £10m of EU funding to help develop technology that creates large amounts of renewable electricity.”

Cardiff said the £15m project is expected to create up to 20 skilled jobs in southwest Wales.

Bombora director Sam Leighton added: “We are very grateful to secure the £10.3m EU support package for our exciting 1.5MW trial project.

“Since setting up our European headquarters in Pembrokeshire last year we have been working with local suppliers and have quickly grown our talented team to work on this exciting new project.”