Tidal player Nova Innovation has secured £800,000 from the UK Government to focus on reducing the operation and maintenance costs of tidal energy turbines installed in remote areas.
Through the CREATE (Cost REduction Acceleration in Tidal Energy) project the Scottish company is developing a tidal turbine deployment and recovery system that can be used by a wide range of vessels, including fishing boats and harbour work boats.
The system will allow tidal turbines to be transported from the shore before being lowered into position on the seabed.
It will also retrieve the turbines, making routine maintenance quicker and easier.
This will make the process of deploying and maintaining tidal turbines more accessible to coastal communities across the globe, Nova said.
Nova chief executive Simon Forrest said: “We are delighted to receive this investment from the UK Government and the recognition that we can drive down tidal energy costs and open up export opportunities.
“The CREATE project will help to unlock a global tidal energy market worth £126bn and displace high cost, polluting fossil fuels. We are creating a solution to make tidal energy more affordable and accessible to communities across the world.”
Greg Hands, energy and climate change minister, said: “British businesses and entrepreneurs are already leading the world with innovative solutions to tackling climate change.
“This is not only good for the planet but will bring new jobs and investment across the UK.”
CREATE secured support from the UK Government’s £30m Energy Entrepreneurs Fund which has selected 58 small and medium-sized enterprises (SMEs) to receive grants to develop and demonstrate new technologies across the areas of energy efficiency, power generation, heat generation and energy storage.