EU-Funded Ocean DEMO Project Celebrates Success

EU-Funded Ocean DEMO Project Celebrates Success

The success of the EU-funded Ocean DEMO project has been celebrated in a new video and website which highlight the achievements of technology developers and innovators and the progress being made in the ocean energy industry.

European technologies are currently leading the world in ocean energy, and many devices have already been tested extensively at sea.

The next step towards commercialization is the transition from single machine to multi-device farms. Scaling up to multi-device farms requires higher capital investments but will also improve competitiveness by reducing costs. This will prove the business case and increase investor confidence.

Ocean DEMO helped ease the transition towards multi-device farms by providing free access to Europe’s world leading network of open sea test centers.

2 Image 1(Image credit: Ocean DEMO)

With support from Ocean DEMO 16 wave, tidal and offshore wind technology developers were able to test their machines. A total of 54 enterprises received support, including technology developers, supply chain companies and universities. Through the successful demonstration of their technologies, Ocean DEMO technology developers were able to leverage over €124 million. This funding will pave the way for larger scale projects and commercial rollout.

In addition, Ocean DEMO national ambassadors in France, the Netherlands and the United Kingdom worked closely with the ocean energy stakeholders in their respective countries to create a supportive policy environment for the industry.

Thanks to their work, the political support from the House of Representative in the Netherlands is stronger than ever, the United Kingdom allocated tens of millions of revenue support for tidal energy and the French Government recently announced its support to to developing the largest tidal farm project in the world.



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