ResHydro, a tidal power firm based in the United States, is to open a subsidiary in Scotland.
The company, which will be supported by a £100,000 fund from Scottish Enterprise, is working on hydrokinetic energy generation and intends to leverage its new base to access the R&D capability it requires.
It will also work with the University of Strathclyde.
Samuel Lewinter, chief executive of ResHydro, commented: “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.”
Alex Salmond, First Minister of Scotland, also commented: “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.”
