Wales grants £12M of EU funds to grow marine energy sector
The Welsh government has awarded almost £12 million to support Bangor University’s Seacams 2 project which aims to expand Wales’ marine energy sector over the next four years.
Experts at Bangor and Swansea universities will provide specialist research and development programmes to help businesses exploit commercial opportunities and create new products and patents, the Welsh government informed.
The £17 million worth Seacams 2 project aims to create new enterprises in the sector and accelerate job creation in existing businesses.
Colin Jago, Director of the Seacams project, said: “We will build on our five years of work with industry during the first Seacams funding phase. In pooling expertise at Bangor and Swansea universities, we have the scope of knowledge to provide the detailed technical information required to support these exciting developments, which could change the way we resource our energy needs in Wales.”
Around 50 businesses will benefit from specialist research and development collaborations with universities, according to the Welsh government.
Mark Drakeford, Finance Secretary for Wales, said: “This is a major investment of EU funding which will finance highly specialised-innovation in an important sector of our economy.”