Carbon Trust – Funding – Investments

September 20, 2009

Pelamis Wave Power and Seagen Tidal Energy Systems are to benefit from additional financing of £250,000 and £150,000 respectively from the Carbon Trusts Marine Energy Accelerator Scheme.

For Pelamis this will help fund research into the use of a remotely operated vehicle to assist in maneuvering and positioning their 180 Metre long system. In addition remote control technology should help to reduce installation and maintenance costs.

Marine Current Turbines Seagen tidal Energy system will benefit from the funding which will cover the costs of a feasibility study to develop a remotely operated Sub Sea Drilling Platform for installation of the systems foundation piles.

Installation and maintenance costs for Wave and Tidal Energy account for up to 50% of project costs and any developments to reduce these costs, which the Carbon Trusts funding will assist, should be welcome.

Whilst we believe our system will eliminate many of the costs faced today, by many of the current Wave and tidal Energy systems, results from the Pelamis and Seagen studies could help to endorse our own Design philosophy.
Alternative and renewable Energy are forecast, by Money Week, to be the next Investment bubble and if correct should help to accelerate the developments and improvements in this exiting and challenging area.

Alan Newton, C Eng, M.R.I.N.A.

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