Marine Energy Wales secures £450,000 funding from Welsh government

Marine Energy Wales has been awarded a funding package from the Welsh government, securing its work until 2025.

The three-year grant worth £150,000 per year will allow the membership body to increase support for the floating offshore wind sector (FLOW), a technology with a target of generating 4GW of electricity in the Celtic Sea by 2035.

For the first time the technology won support in the Contracts for Difference auction, with a 32MW project developed by Wave Hub in England gaining a contract.

A FLOW project coordinator has joined the team and will coordinate an additional membership group, the Celtic Sea Developer Alliance (CSDA) which consists of companies with an interest in the Celtic Sea and working to represent its interests.

Vaughan Gething, economy minister of the Welsh government, said: “I’m pleased we’ve been able to provide this funding package to Marine Energy Wales, which will support the development of emerging marine energy technologies. This is part of our wider efforts to establish Wales as a global leader in sustainable emerging offshore renewable generation.”

The company has also opened a satellite office in Anglesey that will support the growth of the tidal energy industry in North Wales.

The ladder of success is best climbed by stepping on the rings of opportunity. Congratulations on your funding and all the best to the entire team at Marine Energy Wales.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

Or join our Whatsapp group to interact with other founders: Yes, I want to join the Whatsapp group.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For any rectifications, reach out to nicole@startuplanes.com