The European Regional Development Fund announced it will provide the project with £20m, while the UK government committed another £9.5m under its Low-Carbon Industrial Strategy, to be administered through the South West Regional Development Authority (RDA).

On 15 July the UK named southwest England the country’s first “Low-Carbon Economic Area” on the back of its vast marine-energy potential. Between the UK, EU and private investors, total investment into the southwest’s marine-energy sector is expected to top £100m over the next two years, putting it at the forefront of the industry globally.

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