Funding Scotland’s wave and tidal energy sector
We’re committed to helping companies like yours invest in Scotland’s marine energy sector. We can help you identify and access grants and other potential funding sources.
Wave and tidal energy funding opportunities
The Wave and Tidal Energy: Research, Development and Demonstration Support (WATERS) fund was established to support the deployment of wave and tidal energy devices.
WATERS has recently made £13 million available to fund the development of new wave and tidal stream prototypes including the cost of related infrastructure.
We’re also able to help your company identify sources of general funding:
- Research and development grants and tax credits available in Scotland
- Regional Selective Assistance (RSA) grants are available to safeguard and create jobs in Scotland
- The Scottish Investment Bank offers a portfolio of loans and equity funds including the Scottish Seed Fund and the Scottish Venture Fund
- Venture capitalists recognise the opportunities Scotland offers and we can provide introductions for your company
The Saltire Prize
The Scottish Government has launched the Saltire Prize as a £10 million challenge to help the commercial development of Scotland’s marine energy potential.
The winners of the prize will:
“Demonstrate in Scottish waters, a commercially viable wave or tidal stream energy technology that achieves the greatest volume of electrical output over the set minimum hurdle of 100 GWh over a continuous 2 year period using only the power of the sea.”
Discover more about the Saltire Prize and find out how to apply on the Scottish Government’s Saltire Prize website