A wave energy developer has been awarded a €4 million grant (£3.56m) by the European Commission.
CorPower Ocean AB will use the money to support a three-year innovation programme focused around its WaveBoost project.
The project aims to use pneumatic components and smart technology to improve the reliability and performance of its wave energy converters. That is expected to increase energy production and improve the grid integration of wave energy farms, cutting overall costs by almost a third.
It will bring together renewable energy leaders from Sweden, Scotland and Portugal in a coalition of research groups, utilities, universities and manufacturers.
The company secured the grant after responding to the EU’s Horizon 2020 call for funding. It demonstrated how the project, which will be tested at the European Marine Energy Centre (EMEC), could be an important provider of low carbon power in the future.
Oliver Wragg, Commercial Director at EMEC, said: “The aim of WaveBoost is to instigate a step-change improvement in the reliability and performance of wave energy drive trains. The outcomes from this project could benefit the entire sector.”