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Carbon Trust gives millions to marine energy firms to speed projects

The UK's Carbon Trust announced 22 million pounds (US$34.5 million) of new funding for the six most promising wave and tidal power technologies, seeking to speed up deployment of full-scale prototypes and accelerate the first commercial projects in the UK.

The Carbon Trust, an independent body set up by the government to speed the move to a low-carbon economy, believes that up to 1,000 marine energy devices could be operating in the water by 2020 as costs are reduced over the next decade.

Following a rigorous assessment process, the Carbon Trust has selected Atlantis Resources, Aquamarine Power, Hammerfest Strom UK, Marine Current Turbines, Pelamis Wave Power and Voith Hydro to receive support.

Set against a shortage of funding in the sector, the new finance will bridge a funding-gap that was stifling progress, creating more certainly around the technical performance of each technology which will trigger increased confidence in the sector, the Carbon Trust said.

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