Current2Current Ltd (C2C) has recently secured a Scottish Enterprise R&D feasibility grant of £100,000. The grant is a contribution towards a £260,000 R&D feasibility project the company is undertaking over the next six months. The Aberdeenshire based company have also received match funding from a private investor which, together with the grant from Scottish Enterprise, has enabled further development of their tidal energy converter (TEC).
Generating electricity from ocean currents and tides, the TEC uses the kinetic energy in moving water, transforming it into useful electricity. Having already produced electricity in the North Sea using their prototype platform, C2C are now preparing an extended test program, whilst at the same time powering ahead with the development of TEC4, a pre-production prototype device.
Commenting on the recent grant award from Scottish Enterprise, C2C Managing Director Brian Barnard said: “We are delighted to have received this substantial grant from Scottish Enterprise and are looking forward to the testing of our device later in the year. There appears to be a real appetite for tidal power right now, perhaps due to the predictability of this type of energy conversion”.
“We believe C2C is well placed to become a market leader in the production of renewable electricity and ultimately reaching our goal in helping to bridge the predicted energy gap, whilst reducing the nation’s carbon emissions,” concluded Brian.
Jim Watson, Director of Innovation and Enterprise Services at Scottish Enterprise, said: “As Scotland’s innovation agency, we want every company in every sector to embrace innovation and reap the benefits it brings. It’s fantastic to see companies like C2C developing products that have the potential to generate significant revenue as part of their ambitious global growth plans. We wish them every success with this project.”