Nova Innovation has been declared one of the winners at the regional Shell Springboard competition, securing its place in the national finals to be held next month.
Edinburgh-based tidal energy developer, Nova Innovation, has won £40,000 of equity-free funding along with two other companies at the regional Shell Springboard awards held in Aberdeen last night.
The companies will now proceed to the national Shell Springboard finals to be held on April 6, 2017, in London, where they will have an opportunity to secure an additional £110,000.
“We are very grateful to Shell and to the judging panel for this award, which will help us take forward our business development plans in the UK and in international markets,” said Simon Forrest, CEO of Nova Innovation.
Shell Springboard program recognizes and supports the most inspiring UK companies innovating for a lower carbon future.
To remind, Nova Innovation recently installed the third tidal turbine to the Shetland Tidal Array, sited off Scotland. The grid-connected tidal array has the capacity of 300kW.