Wave-tricity bags £4 million grant
UK-based wave energy developer, Wave-tricity, has been granted £4 million for the deployment of its wave energy device off Pembrokeshire.
The funding package was secured from the Welsh European Funding Office under the European Regional Development Fund for West Wales and the Valleys Operational Programme.
The grant, which is matched by investment from Wave-tricity, will enable the company to continue development of its wave energy conversion technology, Wave-tricity informed.
Matthew Fairclough-Kay, Wave-tricity’s Managing Director, said: “Everyone on the Wave-tricity team is looking forward to starting operations in Pembrokeshire and to bringing the prospect of clean wave energy a step closer to commercial success.
“The support of the Welsh Government demonstrates a clear commitment to sustainable economic growth. This, allied to a strong base of local expertise, signals a bright future for marine energy in Wales. It’s great to be on board.”
Over the coming weeks, Wave-tricity will be setting up operations in the Royal Dockyard at Pembroke Dock where it will be testing and developing its technology both ashore and afloat in the Haven Waterways.
The move will also bring new jobs, according to Wave-tricity which is looking to expand its team and bring local talent into the mix. The recruitment drive will seek to fill a range of full time roles based in Pembroke Dock, with required skills ranging across engineering and operations disciplines.