Support for Marine Renewables in the South East
EnviroBusiness is running a programme through which the South East of England Development Agency (SEEDA) is offering targeted support for companies in the marine renewables sector, to help them “create new world beating products and exploit growth in environmental markets”.
This rather grand description involves some specific assistance that would be very helpful to companies who wish to take forward their early stage wave or tidal stream energy devices. The support areas include:
- A desk-based, technical assessment, which will support a grant application and give potential investors some confidence in the viability of the device. The assessment would be conducted by experts in hydrodynamics and model testing from the independent consultancy MTMC Ltd - see http://www.solentoceanenergy.com - and the cost to the inventor is a fee of £100, with the balance being paid by EnviroBusiness
- A funding source guide which lists those programmes suitable for early stage marine device developers and the qualifications / criteria for receipt of such funding.
- Help to identify and meet suitable partners for cash investment and / or in-kind support
- Grant application support
If this programme is of interest, please contact: stephaniemerry@focus-offshore.com
One company that has reached an exciting stage in the development of renewable energy technology is Checkmate Seaenergy Ltd with its Anaconda device, a new wave energy converter that mimics the action of a sea snake. The company has very successfully taken advantage of external support, particularly from the Carbon Trust.
Having licensed the patent from its inventors and secured sole rights, Checkmate entered Anaconda into the Carbon Trust's Marine Energy Challenge, which invited submissions from companies developing new systems for harnessing wave power. All entries were evaluated by consultants with expertise in this area, and the Anaconda was seen as a very promising and potentially cost-effective solution. As a result of this, it was accepted onto the Marine Energy Accelerator (MEA) programme. The Carbon Trust's MEA aims to help reduce the cost of marine technology, bringing forward the time when it becomes commercially viable.
Further support came in the shape of the Carbon Trust Incubator, which has a track record of turning clean tech innovations into high-growth businesses. The Carbon Trust has helped Checkmate prepare a compelling business case that will help it attract the investment needed to create the first full-size prototype.
If the company secures the necessary funding, it hopes to have the first full-size Anaconda ready by 2014. The ultimate goal is to create farms of around 50 in west-facing coastal areas, such as the Hebrides and the South West Peninsular, which benefit from rougher seas and more energetic waves.
Black and Veatch has recently completed a review of Checkmate Seaenergy's test reports. These tests were no longer concerned with proof of concept as this is now considered "proven" but focused on the power performance of Anaconda leading to a more accurate prediction of the power output of the full scale device. The results of this report, expected within hours of this newsletter being published, will give interested investors a realistic and independent assessment of Anaconda's commercial prospects and will therefore aid the fundraising process.
Chairman Paul Auston said: "The UK is known for its engineering excellence and politicians from all parties have been keen to challenge companies to come up with renewable energy projects that can be sold around the world. With Anaconda we have an invention that changes conventional thinking and it can help to meet government targets for cutting CO2 by providing renewable wave energy from our coastal waters. It will also help cement the UK's world leading position in this technology."
For further information on the Carbon Trust go to http://www.carbontrust.co.uk
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