US tidal firm ResHydro to invest in Scotland
- 8 April 2013
- From the section Scotland
An American tidal power company has announced plans to establish a base in Scotland.
ResHydro is currently working on a hydrokinetic energy generation device that requires further research and development.
The company will be supported by a £100,000 award from Scottish Enterprise and will work in partnership with the University of Strathclyde.
First Minister Alex Salmond welcomed the investment.
Samuel Lewinter, chief executive of ResHydro, said: "We are pleased to have the opportunity to open our Scottish subsidiary where we will have access to significant technical expertise and where market conditions will contribute to the most expeditious commercialisation of our technology."
Mr Salmond, who is in the US for the annual Scotland Week celebration, said the announcement showed the country was "leading the way" in the development of marine renewables technology.
He added: "ResHydro's decision to invest in Scotland and work in partnership with one of our leading universities to further their research and development plans is testament to that.
"Scotland has hit the natural lottery twice, first with oil and gas and then with our green energy resources. We have astounding green energy potential and this government has a responsibility to make sure Scotland capitalises on the vast economic opportunities the industry presents."
The move was welcomed by environmental groups, with WWF Scotland director Lang Banks describing it as a "great vote of confidence in Scotland's clean energy future".
Mr Banks said: "There is a massive amount of power in our seas and Scotland is well placed to lead in developing the technologies to turn this potential into clean, green electricity."