© 2019 Nova Innovation Ltd.

Nova Innovation Ltd is registered in Scotland, number SC358996. Registered address: 45 Timber Bush, Edinburgh EH6 6QH, United Kingdom

Search

Nova Secures Major European Funding for Tidal Energy Innovation

Nova Innovation, a global leader in tidal energy generation, has announced that it has secured funding from the European Commission to demonstrate a direct drive tidal turbine – a technology that, when commercialised, will revolutionise the future of the tidal energy sector.


The Scottish-based company, which in August announced the deployment of the world’s first fully-operational, grid-connected offshore tidal array in Shetland, has secured grant funding of €2.25m through the European Commission under phase 2 of Horizon 2020's SME Instrument programme.


The project titled D2T2 (Direct Drive Tidal Turbine) is designed to produce a commercial demonstrator of Nova’s innovative direct drive tidal turbine technology.


This will represent a milestone in the long-term commercialisation of tidal energy as a source of predicable renewable power.


Direct drive machines offer huge promise for the successful development of the sector. Lower operating costs, improved reliability and increased energy output make this technology a ‘must’ for the tidal sector going forward.


Simon Forrest, Managing Director of Nova Innovation said: “We are extremely excited to be embarking on this exciting phase in the commercialisation of our direct drive tidal turbine. This will be a major breakthrough for the sector globally – driving down the cost of tidal energy by improving the reliability, efficiency and maintainability of tidal turbines.”


He added: “We are extremely grateful to the team at the European Commission for their confidence in our technology and continued support following the successful delivery of Phase 1 of the project. We are looking forward to bringing this innovation to a commercial reality so that it can be exported throughout the world.”


Bernd Reichert, Head of Unit for the Horizon 2020's SME Instrument programme commented: "With the SME Instrument we are looking for an elite of highly innovative small and medium-sized businesses that can transform markets and create rapid growth. Nova Innovation is a great example of how SMEs can disrupt the market with an innovative idea and the right technology and we are proud to count Nova Innovation in our programme."


The D2T2 project with a total expenditure of €3.2m will be carried out in Scotland, widely regarded as the world centre of excellence for tidal energy development, and will run for 30 months.


Since its inception in 2010, Nova Innovation has been at the forefront of tidal energy technology development. It was the first company to secure financial close on and to deliver a commercial tidal array. This further announcement reaffirms Nova’s position as a market leader in tidal energy technology.


Nova Innovation’s differentiated business strategy in developing its commercial scale devices has enabled it to sell and deliver projects quickly and more cost effectively than its competitors. This means that Nova is uniquely placed to capitalise on this high-growth renewable sector.