The marine renewables industry in Cornwall and the south west is set to receive a further £535k of investment.
The funds will target marine renewable projects over the next two years aiming to assist the industry in innovation and commercialisation, as well as supporting the development of the local supply chain.
The newly-funded projects include £360k for the Offshore Renewables Delivery Programme (ORDP), which is a partnership between Cornwall Council and Plymouth University, and managed by Cornwall Development Company (CDC). The funding includes a £50k investment from the Cornwall and Isles of Scilly Local Enterprise Partnership’s Regional Growth Fund.
It will create a marine renewables focused programme looking to de-risk and better resource the development pathway to commercialisation for developers. The programme also includes the creation of an industry-led forum, chaired by Mike Reynolds of A&P Falmouth based.
The Channel MOR project is a £104k initiative secured by Cornwall Marine Network (CMN) via the Interreg IVA Programme (England-France) and funded by the European Regional Development Fund aiming to research, coordinate and grow supply chain and marketing opportunities for the marine renewables sectors of France and Cornwall.
Finally, ESF Skills Support for the Workforce is a £72k project secured by CMN which aims to carry out research to map the skills gaps, capacity and future requirements of the growing marine renewable energy sector in Cornwall.
Chris Pomfret, chairman of the Cornwall Isles of Scilly LEP, said: “Marine renewable energy is a global market opportunity for Cornwall and the Isles of Scilly and this latest suite of investments will support the sector’s growth ambitions and build on the considerable assets we already have in the region.”