The Joint Research Centre (JRC) of the European Commission has published its report on European marine energy technology and innovation.
Drawing on initiatives of key actors from industry and academia, the report portrays the development of the sector through collaborative networks and knowledge exchanges, while identifying public and private funds’ contribution to the progress of the sector, towards the creation of new markets.
Findings show that Europe is currently the world leader in ocean energy technology, with more than 50% of global RD&D investments taking place in the EU.
In 2011, Europe invested 125 million euros in ocean energy. Half of this investment came from industry and a fifth from EU funds. However, as this industry is still in a nascent phase, the total R&D investment in ocean energy is only about 10% of that for offshore wind.
With UK, France, and Norway leading the way of innovation, a number of European countries are deeply involved in developing the sector. This report will soon be followed by the Ocean Energy Status Report 2014, which will present a current overview of the technology and project development.
[mappress mapid=”14385″]