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08/04/2013
US Tidal Firm Announces Scottish Investment
A major US tidal power company has announced plans to set up operations in Scotland.
ResHydro made the announcement following support from a £100,000 SMART: SCOTLAND award from Scottish Enterprise.
The deal marks the first American renewable energy inward investment in Scotland. ReHydro with work in partnership with the University of Strathclyde.
First Minister Alex Salmond said: "Scotland has an incredible wealth of energy resources and is leading the way in the development of marine renewables technology. ResHyrdo’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.
"Our reputation as a work leader in energy, combined with our supportive business environment and highly skilled workforce, is a powerful proposition for overseas companies looking to succeed in this growing sector."
Samuel Lewinter, chief executive officer of ResHydro said: "The SMART: SCOTLAND award, coupled with our partnership with the University of Strathclyde, positions ResHydro in the most vital marine power industry market.
"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."
(IT/CD)
ResHydro made the announcement following support from a £100,000 SMART: SCOTLAND award from Scottish Enterprise.
The deal marks the first American renewable energy inward investment in Scotland. ReHydro with work in partnership with the University of Strathclyde.
First Minister Alex Salmond said: "Scotland has an incredible wealth of energy resources and is leading the way in the development of marine renewables technology. ResHyrdo’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.
"Our reputation as a work leader in energy, combined with our supportive business environment and highly skilled workforce, is a powerful proposition for overseas companies looking to succeed in this growing sector."
Samuel Lewinter, chief executive officer of ResHydro said: "The SMART: SCOTLAND award, coupled with our partnership with the University of Strathclyde, positions ResHydro in the most vital marine power industry market.
"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."
(IT/CD)
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