27 May 2011 10:05:08
UK to receive offshore renewables innovation centre
A new offshore renewable energy technology centre is to be established in the UK, focusing on the potential of wind, wave and tidal power.
Business secretary Vince Cable announced that over the next four years the government will plough £200 million into the creation of six innovation centres, which will allow businesses to commercialise both new and existing technologies.
Among the bodies vouching their support for the centre is the Technology Strategy Board (TSB), which is charged with overseeing the network of the facilities.
Chief executive Ian Gray said: "These centres will be a vital part of the UK's innovation landscape and enable world leading businesses to emerge in these areas."
Innovation centres for high value manufacturing and cell therapy have both already been established.
Mr Cable also announced £20 million is to be invested in two clean technology funds, Zouk Cleantech 2 and HG Capital Renewable Power Partners 2, which will support businesses raising equity finance.
Meanwhile, deputy prime minister Nick Clegg announced earlier this week that the Green Investment Bank will be open for business in April 2012 and will have its operational independence enshrined in legislation.