News Article

North East wind turbine developer Wind Power Limited is to embark on the next phase of crucial research and development at NaREC, thanks to funding from a new North East technology fund.

The Three Pillars Fund, launched in September 2007, is a new regional initiative specifically developed to bridge the investment gap facing small high-tech businesses in the North East of England. Managed by NStar Limited, it invests at the development to pre-seed stage in SMEs who are based in the region and working in the Three Pillar Sectors (Energy, Health Sciences and Healthcare, and Process Technologies).

The funding aims to assist companies in the next stage of growth – enabling developers to prepare investees for the next stages of fund-raising or to enable a step change in operations.

The new funding will allow Wind Power Limited to step up further research and development activities, working with consultants and technology specialists from NaREC to prove and fully test prototype technology ahead of full-scale development. This aspect of the project has also won support of £90,000 from One North East's Grant for Research and Development scheme, which emphasises the region's commitment to developing viable sources of renewable energy. Wind Power Limited has developed a striking new vertical axis wind turbine which works on the principal of the Darrieus wind turbine. It is planned that the ‘Aerogenerator’ turbine will be developed into a 50kW device suitable for application within the built environment, as well as a multi-megawatt turbine for the offshore environment.

As part of the funding agreement, NaREC will act as a mentor to Wind Power Limited providing not only engineering and technology development services but also business development support, being well placed to fully understand the difficulties faced by organisations seeking to develop technology and new business opportunities in the energy industry.

Theo Bird, Director of Wind Power Limited, is keen to move to the next phase of development, “Wind Power moved its R&D activities to Blyth in 2005 to deliver its wind turbine prototype development in partnership with NaREC. We are so glad we did. Through NaREC we have been able to reap the rewards of the well-established energy network within the region and this new funding will enable us to build on these successes to develop the business further.”

Dr. Amanda McMurray, Manager of the Three Pillars Fund, “The three pillars fund, totalling £2.4million, aims to help innovative small and medium-sized companies in the region. New and renewable energy alone has the ability to generate an estimated £2 billion worth of new growth for the North East economy through the development of a new generation of cutting edge technology companies. Investing in cutting-edge research and development for companies like Wind Power Limited will help to ensure that it is the North East which pioneers the sustainable energy revolution.”

NaREC is selectively able to offer long term support to businesses to enhance their chances of successfully exploiting a new innovative concept. Working on a flexible support basis, NaREC offers organisations the assistance they need only at the time when they need it; adapting the support framework to match the needs of a project as it evolves.