With the funding received by the European Regional Development Fund, Scottish Enterprise and Islands Enterprise have joined hands in setting up WATERS 2 funding package that is aimed to promote tidal energy.
Cameron Johnstone, chief executive officer of Nautricity
Nicola Sturgeon, the Deputy First Minister of Scotland announced a funding of £1.4 million to Nautricity as part of the £7.9 million WATERS 2 package to promote the company’s marine energy market. This funding is aimed to increase the share of Scotland in the international energy market. If tidal energy is properly harnessed by Scottish firms, it is expected that by 2020, Scotland’s economy will increase to £4 billion.
Mr. Sturgeon reported that the WATERS 2 package remains as a harbinger to Scotland that is bestowed with marine energy resource and engineering expertise. The energy funding from WATERS opens new opportunities to investors and commercial partners who focus on harnessing tidal energy. The sea-powered electricity generation helps save our planet from damaging pollutants and to keep it safe for our successors. The investment on tidal power also opens up new job opportunities and technological advancement.
Nautricity’s patented CoRMaT marine turbine already set up in Glasgow is found to generate 500 kW of electricity from tidal power. The special turbine features two rotors, each running in opposite directions. This makes the turbine stable, eliminating the installation of fixed foundations that cost high. The CoRMaT marine turbine can be installed in depth as low as 500 m. It does not emit any pollutant that harms the environment, thus generating green tidal energy.
Cameron Johnstone, the Chief Executive Officer of Nautricity, feels honored for the company being chosen as the one in opening new avenues in generating tidal energy. With the company’s award winning CoRMaT marine turbine, Nautricity is hopeful of setting up its tidal plant in the sea south of Machrihanish, Argyll, Scotland. The company has signed a legal agreement with the Crown Estate that owns the seabed covering 12 nautical miles. With the support and cooperation extended by the local residents, the company is hopeful of the success of Kintyre installation.
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