Mocean Energy Raises Funds for Blue Star Wave Energy Technology
Wave energy firm Mocean Energy has raised £2.2 million in new equity alongside a £500,000 grant to drive the commercialization of its wave energy technologies.The equity funds come from existing investors, including Equity Gap, Scottish Enterprise and Old College Capital, the University of Edinburgh’s venture investment fund, alongside new shareholders Norwegian impact investors Katapult Ocean and MOL PLUS, the corporate venture capital arm of listed Japanese shipping conglomerate MOL.In addition, Mocean has secured a £499,500 Low Carbon Manufacturing Challenge Fund grant
Wave Energy Tech Firm Mocean Energy Secures Major Investment
will drive the technology's adoption in subsea oil and gas.The Edinburgh firm has raised £730,000 in equity funding from existing funders, led by the angel syndicate Equity Gap, together with Old College Capital, the University of Edinburgh’s in-house venture investment fund, and Scottish Enterprise.Last year Mocean successfully trialed the Blue X prototype at sea at the European Wave Energy Centre (EMEC) in Orkney, and is currently collaborating with partners to advance a demonstrator project, called Renewables for Subsea Power, to show how its technology can be coupled with underwater
Sentinel Subsea Attracts Investment for Subsea Well Monitoring Tech
Passive well integrity monitoring firm Sentinel Subsea has secured an investment from Alba Equity and Scottish Enterprise as it continues to develop its technology for the monitoring of subsea wells.Founded in 2018, Sentinel Subsea has developed WellSentinel, described as a unique method of monitoring and managing the integrity of subsea wells, wellheads and xmas trees. "Without the complexity of active power or data communication, Sentinel Subsea offers a proven method of long-term remote well integrity monitoring," the company said.With successful field trials already carried out
Nova VOLT gets $2.8m injection from Scottish government
Nova Innovation was awarded a $2.8m cash injection from the Scottish Government to advance its tidal turbine manufacturing to a global level.The funding, delivered through Scottish Enterprise, is directed at Nova’s VOLT (VOlume Manufacturing and Logistics for Tidal Energy) project that aims to develop the first European assembly line to mass manufacture tidal turbines, and trial innovative techniques and tools to ship, deploy and monitor turbines around the world.The project will examine how to improve turbine performance, logistics for mass manufacture, and develop new techniques to ensure
Sustainable Marine Floats Out 'Next-Gen' Tidal Energy Platform in Canada
and engineering expertise from our German, Scottish and Canadian teams, and is the culmination of a decade of research and development,” said Jason Hayman CEO of Sustainable Marine. "We are very fortunate to have such strong support from our major shareholders, Schottel and Scottish Enterprise, the Government of Canada, and a wide range of partners and collaborators. The PLAT-I 6.40 has been designed specifically for the Pempa’q Project - where we will deliver the world’s first floating tidal array – in Nova Scotia, which has the best natural
Mocean's Wave Energy Device to Power Subsea Oil & Gas Ops
,000 from Innovate UK to advance the design of its Blue Star wave device and drive its adoption in subsea oil and gas.The funding includes investment by Old College Capital, the University of Edinburgh’s in-house venture investment fund, and the Scottish Investment Bank, the investment arm of Scottish Enterprise. The equity funding unlocks a further £250,000 from Innovate UK, the UK’s innovation agency."Our goal is to produce a commercially-available wave machine which can deliver low carbon power for tiebacks and future fleets of autonomous AUVs [autonomous underwater vehicles],&rdquo
New Floating Wind Center Launched
with three UK universities, in joining the initiative, and are closely aligning the Center's activities with key stakeholders including Welsh Government, the Celtic Sea Cluster, Opportunity North East (ONE), the Oil and Gas Technology Center (OGTC), the Deepwind Offshore Wind Cluster, Scottish Enterprise, Cornwall & Isles of Scilly Local Enterprise Partnership, Highlands and Islands Enterprise and Crown Estate Scotland.”Sir Ian Wood KT, GBE, Chairman of Opportunity North East said, “With more offshore installations than any other country, the world’s largest floating
Japan, Scotland Invest in Subsea Technology
investment made by the companies themselves, a total of £20.9 million of industrial research and development will go ahead.External Affairs Secretary Fiona Hyslop, in Japan this week to strengthen trade and investment links, announced the latest round of awards from the joint fund run by Scottish Enterprise and the Nippon Foundation.A launch in Yokohama, attended by senior executives from the subsea industry, heard how 12 Scottish companies will partner with Japanese firms to complete six projects.Collaborations involve companies from Aberdeen, Inverness, Edinburgh, Coatbridge and Livingston
Japan, Scotland Invest $25.6m for 'Blue Economy'
two years ago, will see almost $25.6 million invested into underwater technology projects to promote economic growth opportunities in the Blue Economy. Industry body Subsea UK and its technology arm, NSRI, has (9th October 2019) announced that, through a close working relationship between Scottish Enterprise and the Nippon Foundation, $25.5 million will be invested into six R&D projects being developed by 20 companies from Scotland and Japan.Scottish Enterprise is supporting with $7.6 million in R&D funding to 12 Scottish companies, while Japan will contribute $5.1 million to the joint
February 2024
