Seatricity, a Falmouth-based wave energy developer, has been shortlisted as one of the finalists for the Shell Springboard 2016 awards.
The developer of the Oceanus wave energy device is in the run for Shell’s 2016 funding award of up to £150,000.
Shell Springboard provides funding to UK’s small and medium-sized enterprises with innovative, commercially viable business ideas that reduce carbon emissions.
“This brings the possibility of a financial prize but, more importantly, it raises the profile of our efforts to cut the cost and carbon consequence of energy conversion for the generation of power and production of fresh water by desalination,” Seatricity stated in a press release.
Seatricity’s Oceanus 2 wave energy device has a capacity of 162 kW, and it works as float that travels up and down with the waves operates a pump to pressurize sea water which is piped ashore to drive the generators to produce electricity.
Since launching in 2005, the Shell Springboard programme has awarded approximately £3 million to 86 dynamic enterprises.