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Offshore renewable energy sector to get technology centre

01 June 2011

The Government has committed more than £200m over the next four years to establish a network of at least six technology and innovation centres, allowing businesses to access equipment and expertise to help them commercialise new and emerging technology. The latest focus is offshore renewable energy, as business secretary Vince Cable (pictured) announces a competition to form a technology and innovation centre that will concentrate on technologies for offshore wind, wave and tidal power.

Business Secretary, Vince Cable
Business Secretary, Vince Cable

The move follows earlier announcements about centres in high value manufacturing and cell therapy.

“These centres will be a vital part of the UK’s innovation landscape and enable world leading businesses to emerge in these areas," says Technology Strategy Board chief executive, Iain Gray. “Our strategy highlights ten possible areas from which a further three centres will be selected in the near future.”

Vince Cable has also pledged £20m to be invested in two clean technology funds; Zouk Cleantech 2 and HG Capital Renewable Power Partners 2, as part of the £325 million UK Innovation Investment Fund (UKIIF).

The funds will support innovative businesses with high growth potential that are raising equity finance. The money will then flow into companies working on alternative energy generatio;, renewable energy infrastructure, including wind farms; energy efficiency, and water treatment and conservation.

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