Welsh marine en­ergy firm gets more than £10m in EU fund­ing

Western Mail - - BUSINESS WALES / SATURDAY BUSINESS -

FI­NANCE Sec­re­tary Mark Drake­ford has con­firmed £10.3m of EU fund­ing for Wales’ marine tech­nol­ogy sec­tor.

The fund­ing will sup­port the de­sign and test­ing of a fully-sub­merged mem­brane-style wave en­ergy con­ver­tor ca­pa­ble of gen­er­at­ing large amounts of elec­tric­ity – paving the way for the de­vel­op­ers, Bomb­ora Wave Power Europe, to con­struct and com­mer­cialise the tech­nol­ogy from its Pem­brokeshire base. The £15m project is ex­pected to cre­ate up to 20 skilled jobs in the re­gion, sup­port­ing the local econ­omy and cre­at­ing op­por­tu­ni­ties for com­mu­ni­ties in Pem­brokeshire.

Mr Drake­ford said: “We want Wales to be at the fore­front of re­search and in­no­va­tion in the marine en­ergy field and I am de­lighted to an­nounce more than £10m of EU fund­ing to help de­velop tech­nol­ogy that cre­ates large amounts of re­new­able elec­tric­ity.

“De­vel­op­ers from across the globe are show­ing an ac­tive in­ter­est in de­vel­op­ing projects in Welsh wa­ters, recog­nis­ing Wales has one of the best marine en­ergy re­sources and sup­port struc­tures to be found any­where. It’s a very ex­cit­ing time for marine en­ergy in Wales and this ini­tia­tive is an­other ma­jor step in build­ing a thriv­ing in­dus­try in Pem­brokeshire and Wales”

Bomb­ora Wave Power Europe’s manag­ing di­rec­tor Sam Leighton said: “Bomb­ora is very grate­ful to se­cure the £10.3m EU sup­port pack­age for our ex­cit­ing 1.5 megawatt trial project. Since setting up our Euro­pean head­quar­ters in Pem­brokeshire last year, we have been work­ing with local sup­pli­ers and have quickly grown our tal­ented team to work on this ex­cit­ing new project.”

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