Navigation Links
University spin-out company shares in £7.9 million marine energy funding boost
Date:9/7/2012

An award-winning University of Strathclyde spin-out company has been awarded 1.4 million to help it harness tidal energy.

Nautricity will use the grant towards the total cost of building and testing its CoRMaT tidal current turbine in the sea south of Machrihanish, Argyll, Scotland.

The award was part of the 7.9 million WATERS 2 funding package announced by Deputy First Minister Nicola Sturgeon, aimed at helping Scottish firms to secure an increased share of the international marine energy market which could be worth up to 4 billion to the country's economy by 2020.

Cameron Johnstone, chief executive officer of Nautricity, said: "We are delighted to be chosen as one of the companies to take a new generation of tidal energy technology forward.

"We were already well advanced with plans to deploy our CoRMaT technology but this award helps significantly to accelerate this deployment.

"Nautricity welcomes the Deputy First Minister's announcement of the launch of the WATERS 2 programme, further demonstrating Scotland as the vanguard of next generation wave and tidal energy.

"This award accelerates Nautricity's business development by facilitating the commercial demonstration of its CoRMaT technology; thus providing a springboard for both domestic and international market development."

Ms Sturgeon said: "The WATERS 2 funding sends a further clear signal that Scotland already blessed with some of the world's greatest concentrations of marine energy resource and with unrivalled offshore energy engineering expertise will continue to provide the optimum research and investment environment for developers and commercial partners.

"By supporting a range of wave and tidal technologies at various stages of development towards commercialisation and the goal of large-scale, sea-powered electricity generation, we can stimulate innovation, investment, job creation and help protect the planet for future generations."

Glasgow-based Nautricity's device capable of generating 500kW of electricity uses a patented rotor system that allows it to overcome many of the problems that previously made tidal energy production economically unviable.

The innovative Nautricity design uses two rotors which turn in opposite directions, making it extremely stable and removing the need for expensive, fixed foundations. It can be deployed in depths of up to 500m and does not emit any pollutants.

The firm has signed a lease agreement to develop the Kintyre installation with The Crown Estate, which owns the UK seabed out to 12 nautical miles. Nautricity will engage with the local community to ensure the project proceeds with its understanding and co-operation.


'/>"/>

Contact: Lachlan Mackinnon
lachlan.mackinnon@strath.ac.uk
University of Strathclyde
Source:Eurekalert

Related biology news :

1. Rice University researchers optimize photoluminescent probes to study DNA and more
2. University of Tennessee Space Institute researchers make clinical trials a virtual reality
3. University of Leicester takes delivery of unique eye imaging equipment
4. University of Tennessee Team receives NSF support to study toxic water in China
5. George Washington University Computational Biology Director solves 200-year-old oceanic mystery
6. University of Minnesota engineering researchers discover new non-invasive method for diagnosing epilepsy
7. Prestigious Royal Society of Tropical Medicine and Hygiene journals join Oxford University Press
8. MDA supports Duchenne muscular dystrophy research by University of Nevada School of Medicine
9. University of Minnesota receives $13.1 million in DOE funding for 2 new nationwide centers
10. University of Toronto wins third place at the Gates Foundations Reinvent the Toilet Challenge
11. NIH backs Rice University study of delay in gene transcription networks
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/11/2017)... No two people are believed to ... York University Tandon School of Engineering and Michigan ... partial similarities between prints are common enough that ... and other electronic devices can be more vulnerable ... in the fact that fingerprint-based authentication systems feature ...
(Date:4/5/2017)... Allen Institute for Cell Science today announces the launch ... dynamic digital window into the human cell. The website ... deep learning to create predictive models of cell organization, ... suite of powerful tools. The Allen Cell Explorer will ... resources created and shared by the Allen Institute for ...
(Date:4/4/2017)... 4, 2017   EyeLock LLC , a leader ... United States Patent and Trademark Office (USPTO) has issued ... linking of an iris image with a face image ... the company,s 45 th issued patent. ... timely given the multi-modal biometric capabilities that have recently ...
Breaking Biology News(10 mins):
(Date:10/10/2017)... SANTA CRUZ, Calif. , Oct. 10, 2017 /PRNewswire/ ... SBIR grant from the NIH to develop RealSeq®-SC (Single ... preparation kit for profiling small RNAs (including microRNAs) from ... Cell Analysis Program highlights the need to accelerate development ... "New techniques for ...
(Date:10/9/2017)... Oct. 9, 2017  BioTech Holdings announced today ... which its ProCell stem cell therapy prevents limb ... The Company, demonstrated that treatment with ProCell resulted ... saved as compared to standard bone marrow stem ... resulted in reduction of therapeutic effect.  ...
(Date:10/9/2017)... Arizona (PRWEB) , ... October 09, 2017 , ... ... Kindred, a four-tiered line of medical marijuana products targeting the needs of consumers ... and packaging of Kindred takes place in Phoenix, Arizona. , As operators of ...
(Date:10/7/2017)... ... October 06, 2017 , ... Phase ... metagenome deconvolution product, featuring the first commercially available Hi-C kit. Researchers can ... Hi-C metagenome deconvolution using their own facilities, supplementing the company’s full-service ProxiMeta ...
Breaking Biology Technology: