A package of regional and national funding has been confirmed for the Plymouth Science and Innovation Programme (PSIP).
The break-up is as follows:
• £7 million from the South West RDA
• £4 million from the Department of Business Innovation and Skills (BIS) and the Department of Energy and Climate Change (DECC)
• £11.8 million from the University of Plymouth
• £1.5 million from Plymouth City Council
PSIP has been created by a partnership led by the South West RDA, University of Plymouth and Plymouth City Council.
One of the highlights of this initiative is plans for a new marine building on the University of Plymouth campus. The building will house new wave tank facilities as part of the Peninsula Research Institute for Marine Renewable Energy (PRIMaRE) project. As per the plans, a new £18 million marine building will be developed. The RDA had previously announced £1.2 million funding for the wave tank as part of the Agency’s three-year £7.3 million investment in the PRIMaRE project, led by the Universities of Plymouth and Exeter.
Also, these funds will help the University of Plymouth develop a marine building where researchers and enterprises can interact and collaborate.
It is being hoped that this move will help in capitalising on the city’s strengths in marine science and engineering and building upon the South West’s position.
South West England was designated the UK’s first Low Carbon Economic Area last year in recognition of its expertise in marine renewable energy. It included a government investment of £20 million to support the development of marine renewables in the region. Almost half that money, £9.5 million, was earmarked for the RDA’s Wave Hub project in Cornwall, with the remainder made available for the RDA to support other marine energy projects in the South West in consultation with industry and partners. This announcement is the first of those projects.
Read more:
South West RDA: http://social.waveenergytoday.com/search/node/South+West+RDA
Plymouth: http://social.waveenergytoday.com/search/node/Plymouth
PRIMaRE: http://social.waveenergytoday.com/search/node/PRIMaRE
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