Government to fund offshore energy and innovation centre

UK business secretary Vince Cable has announced that the government is to fund an offshore renewable-energy technology and innovation centre that will focus on technologies for offshore wind, wave and tidal power.

The government has committed more than £200m over the next four years to establish an elite network of at least six technology and innovation centres. The centres will allow businesses to access equipment and expertise to help them commercialise new and emerging technology.

The announcement of the offshore renewable-energy technology and innovation centre follows earlier announcements about centres in high-value manufacturing and cell therapy.

Vince Cable also announced that £20m will be invested into two clean-technology funds, Zouk Cleantech 2 and HG Capital Renewable Power Partners 2, as part of the £325m UK Innovation Investment Fund (UKIIF).

The funds will support businesses with high-growth potential that are raising equity finance. The money will then flow into companies working on alternative-energy generation, renewable-energy infrastructure including wind farms, energy efficiency and water treatment and conservation.

Organisations interested in running, being a part of or working with the new technology and innovation centre can contact the TSB on 0300 321 4357 or email