Where to for WaveHub?, page-4

OFFSHORE RENEWABLES
"In the offshore renewables sector, most companies appear to be keeping their powder dry when it comes to speaking to the media. We know there are many UK companies in this area that depend upon EU support, but it will not be clear for many months whether a BREXITED UK will be able to afford to or wish to continue to fund these areas.

There are also plenty of European companies invested in UK-based projects. Swedish wave power developer Minesto, though is one that has broken the silence and has been quick to reassure its investors:

"The referendum results will not affect Minesto’s EU project in Wales. The financial support is secured and tidal energy is now more important than ever for the region”

In May 2015, Minesto secured an offer of a €13m grant from the European Regional Development Fund through the Welsh European Funding Office (WEFO), part of the Welsh Government. Brexit does not affect Minesto’s EU project, which is now in the delivery phase, to demonstrate its first full-scale device of its subsea tidal kite technology called Deep Green off the coast of Anglesey.

Dr Martin Edlund, CEO of Minesto, on the outcome of the British EU referendum:

“During the period when Britain negotiates the conditions for leaving the EU, the question marks for every overseas business looking to invest in the UK will gradually be answered. What we do know now is that our financial support from WEFO remains in place. This EU-funded project has already seen several new jobs created in Holyhead, and Minesto is fully committed to develop our first tidal energy array and to build our future assembly facilities in North Wales.

“In marine energy, Britain has the potential to lead a new export industry as it is one of the country’s most promising emerging industries with significant growth potential. Our assessment is that the political will and different forms of market support will remain and advance.”

In all of these statements though runs an underlying message that the only certainty is that there will be a near future of great uncertainty. In times of great change there are always winners as well as losers, but very few companies, in continental Europe as well as the UK seem to have any clear idea yet of which side of that fence they will fall."

http://www.maritimejournal.com/news...t-and-the-european-commercial-marine-industry