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:7/20/2017)... July 20, 2017 Delta (NYSE: DAL ) customers ... Delta aircraft at Reagan Washington National Airport (DCA). ... Delta launches biometrics to board aircraft ... Delta,s biometric boarding pass ... is now integrated into the boarding process to allow eligible Delta ...
(Date:5/16/2017)... 16, 2017  Veratad Technologies, LLC ( www.veratad.com ), ... and identity verification solutions, announced today they will participate ... May 15 thru May 17, 2017, in ... Trade Center. Identity impacts the lives ... today,s quickly evolving digital world, defining identity is critical ...
(Date:4/18/2017)... 2017  Socionext Inc., a global expert in SoC-based imaging and ... the M820, which features the company,s hybrid codec technology. A demonstration ... Probe, Inc., will be showcased during the upcoming Medtec Japan at ... the Las Vegas Convention Center April 24-27. ... Click here for an ...
Breaking Biology News(10 mins):
(Date:10/9/2017)... (PRWEB) , ... October 09, ... ... published on October 5, 2017, in the medical journal, Epilepsia, Brain Sentinel’s ... the gold standard, video EEG, in detecting generalized tonic-clonic seizures (GTCS) using ...
(Date:10/7/2017)... Seattle, WA (PRWEB) , ... ... ... the industry leader in Hi-C-based genomic technologies, launched its ProxiMeta™ Hi-C metagenome ... the ProxiMeta Hi-C kit and accompanying cloud-based bioinformatics software to perform Hi-C ...
(Date:10/6/2017)... ... October 06, 2017 , ... The HealthTech ... technology sector at their fourth annual Conference where founders, investors, innovative practitioners and ... the ELEVATE pitch competition showcasing early stage digital health and med tech companies. ...
(Date:10/5/2017)... (PRWEB) , ... October 05, 2017 , ... LabRoots ... and scientists from around the world, is giving back to cancer research with a ... October. , Now through October 31, shoppers can use promo code PinkRibbon to ...
Breaking Biology Technology: