Nautricity gains grant to harness tidal energy
26 Oct 2012 by Evoluted New Media
A spin-out company from the University of Strathclyde has been awarded £1.4 million to help it harness tidal energy.
Nautricity, a Glasgow-based company capable of generating 500kW of electricity, will use the grant for building costs and on testing its CoRMaT tidal current turbine in the sea south of Marchrihanish, Argyll, Scotland.
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.”
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.
Sturgeon said: “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.”
