The third funding call for the wave and tidal energy research, development and demonstration scheme (WATERS3) will support companies in the development of their wave and tidal energy technologies. There’s £6 million available, and we will look to maximise the number of recipients who are able to benefit from our support.
The high costs and risks involved in developing new wave and tidal technologies can make attracting private investment extremely difficult. WATERS funding will help projects to prove their capabilities, and move closer to full commercialisation. We’re keen to capitalise on Scotland’s enormous marine energy potential, and have already awarded a total of £14.8 million in the two previous calls.
The scheme is run by Scottish Enterprise in collaboration with Highlands and Islands Enterprise and Scottish Government.