Business Eco
Funding in place for wind turbine plan
FUNDING has been secured to finance
the next phase in the development of
a new type of wind turbine.
The money for the Aerogenerator
project has come from NStar's Three
Pillars Fund and a research grant
from regional development agency
One NorthEast.
The equipment, being engineered by
Aerogenerator at the New and Renewable
Energy Centre (Narec), in
Blyth, Northumberland, is seen as the
next generation of turbines.
The Aerogenerator has no tower and
rotates around a vertical axis, which
harnesses wind energy from any direction.
The Three Pillars Fund investment
will enable Aerogenerator to step up
research and development of its invention,
at Narec, which will act as its
partner as they test prototype technology
ahead of full-scale development.
Theo Bird, director of Aerogenerator,
said: "This funding will help us to
continue the development of Aerogenerator
here in the North-East.
"We are pleased to report that the
region's rich engineering heritage is
very much alive and well in the renewables
sector.
"We believe Aerogenerator can
make a big impact. It's efficient and
visually attractive. The technical innovations
we've introduced make it
more robust and stable, meaning we'll
be able to build fewer, bigger turbines."
Dr Amanda McMurray, from Nstar,
said: "New and renewable energy
could generate up to £2bn for the regional
economy through the development
of cutting edge technology like
the Aerogenerator."
Richard Marr, finance director at
Narec, said: "Aerogenerator is an exciting
and innovative project making
a departure from standard wind energy
technology to create new solutions
for the offshore, onshore and built environments."
Will Adams, research and development
finance manager for One North-
East, said: "This investment shows
OneNorthEast's commitment to businesses
in the region.
"It is great to be able to support the
firm at such an important stage in its
development."
10:37am Tuesday 8th April 2008
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