Offshore Renewables get TSB support

A Centre devoted to supporting the latest technologies applicable to offshore wind, tidal and wave power is to be seed-funded by the Technology Strategy Board (TSB).

This latest in a series of such centres, known as Catapults, will focus on strengthening the UK industry's position to capture up to 15% of this market worth more than £64 billion globally by 2050.

A consortium consisting of the Carbon Trust, National Renewable Energy Centre (NAREC) and Ocean Energy Innovation will set up the Offshore Renewable Energy Catapult, headquartered in Glasgow with an operational centre in the North East of England (Northumberland).

The centre is expected to open for business in the summer of 2012 and will build strong links with centres of excellence across the UK, such as the European Marine Energy Centre, Narec, Wave Hub and the recently announced marine energy park in the South West of England.

It will receive up to £10m per annum over five years from the Technology Strategy Board.  Once fully established, Catapult centres will receive broadly equal funding from the core Technology Strategy Board grant, from R&D grants collaboratively with business won competitively by the Catapult, and from contract research funded fully by business - the one-third, one-third, one-third model.