Achelous Energy bags over £1m Energy Catalyst round 7 grant
Achelous Energy is delighted announce that it is entering the final phase of its Innovate UK Energy Catalyst 7 grant-funded project for its Floating Instream Tidal and Solar (FITS) Power Plant technology.
The company (previously operating as DWR Offshore Limited) was awarded a grant worth more than £1m GBP from Innovate UK, through the Energy Catalyst round 7 competition in December 2019. The grant has enabled the company to develop its hydrokinetic river FITS power plant technology in Myanmar, Southeast Asia.
Achelous Energy’s ground-breaking energy generation technology is both affordable and clean. It will enable bottom of the pyramid, off-grid communities access to renewable energy baseload power by harnessing natural power of the rivers.
The Innovate UK grant provides essential funds to realise the company’s mission of providing energy access to all while helping meaningfully tackle climate change on the global stage.
To support its Innovate UK project, Achelous Energy also sought in-country partners in Myanmar and has formed a diverse and skilled consortium group to carry out the project. Members of the consortium range from social inclusion and gender equality experts to a local fabrication supplier.
The project, which started in April 2020, will complete in March 2022.[/vc_column_text][/vc_column][/vc_row]