Horizon 2020 bolsters wave energy developers

Illustration/Wello's Penguin wave energy device (Photo: Green Marine UK)

Two wave energy projects have been selected for funding in the latest round of the Horizon 2020 SME Instrument Phase 2.

In this phase of the SME instrument, each project will receive up to €2.5 million, excluding health projects, to finance their innovation activities.

Finnish wave energy developer Wello has been selected to receive support to demonstrate its next generation PowerModule wave energy device.

Another wave energy company, Smalle Technologies, a spin-off of the University of Barcelona, has been selected to receive funding for the development of its eForcis and BeForcis wave energy generators for applications in marine buoys and aquaculture fish farms.

Overall, this phase of Horizon 2020 SME Instrument selected 64 small and medium-sized companies (SMEs) from 16 countries to share a total of €97 million in funding.

Funding under Phase 2 of the instrument allows companies to invest in innovation activities such as demonstration, testing, piloting, scaling up and miniaturization, in addition to developing a mature business plan for their product.

In addition, the companies will benefit from 12 days of business coaching, according to Horizon 2020.

The next cut-off for Phase 2 is set for October 18, 2017.

Horizon 2020’s SME Instrument invests in highly innovative small and medium-sized enterprises (SMEs) with significant growth potential and global ambitions. In total, the program will invest €3 billion in 7500 companies until 2020.

Share this article

Follow Tidal Energy Today


<< Nov 2017 >>
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

The WES Annual Conference

The WES Annual Conference is a major networking event to help wave energy technology companies to share their ideas…

read more >

The Scottish Green Energy Awards

Join them in Edinburgh this St Andrew’s Day to recognise and celebrate the determination and innovation – and the people…

read more >

WavEC Seminar 2017

The event of this year will discuss the importance of testing and demonstration infrastructures – both onshore and offshore – to attract…

read more >