An Edinburgh energy firm is among those to benefit from a £13m scheme designed to harness Scotland’s wave power.

Aquamarine Power is one of 5 Scots businesses to be given grants from the WATERS fund, set up by the Scottish Government, Scottish Enterprise and Highlands and Islands Enterprise. The firm has won more than £3m to develop their Oyster 3 scheme at Orkney’s European Marine Energy Centre.

The prototype Oyster devices, which generate power transferred to shore, will be tested with a view to creating Oyster farms in the future which are capable of powering 12,000 homes.

Aquamarine Power’s Chief Executive Officer Martin McAdam said: “The marine energy industry has the potential to provide huge economic benefit to Scotland and Scottish businesses, with the creation of skilled jobs, a global export market and a secure and clean domestic energy supply. At this early stage of the industry, funding initiatives like the WATERS scheme are vital to help deliver this for Scotland.

“We would like to express our sincere thanks to the WATERS partners for this funding and their wider support for our business.  The Scottish Government and enterprise agencies should be commended for their dedicated support of Scotland’s marine energy.”

Another four Scots businesses have also been granted funding to improve the country’s renewable energy provision.

RWE npower Renewables will receive £6m for a ten turbine wave station off the Western Isles and Open Hydro will spend £1.85m on developing a specialist power conversion system. An additional £1.39m will be used by AWS Ocean Energy to test a wave conversion project on Loch Ness, while Ocean Flow Energy will deploy a floating grid system in Couth Kintyre for £560,000.

Energy Minister Jim Mather said: "Our seas have unrivalled potential to generate clean, green energy and bring jobs, investment and know how to Scotland. We have a quarter of Europe's potential tidal energy resource and a tenth of the wave capacity - a resource already drawing developers and innovators to Scotland's seas as we have seen with planned activity in the Pentland Firth and Orkney Waters.

"This funding is another step on the road to a low carbon Scotland that maximises its resources for a sustainable future. Initial costs for marine energy are high and capital is needed - these grants will help attract further private investment. Our support will ensure a continuous stream of ideas and technologies can be tested, developed and refined at our world class testing centre on Orkney and elsewhere around Scotland.

"With the incentives we have put in place for commercial marine energy generation, our 10 million pound Saltire Prize - Scotland's energy challenge to the world - and our innovative low carbon investment project, Scotland is one of the most attractive markets for investment in wave and tidal power anywhere. Working with our enterprise agencies and other partners to develop our full potential, we will make Scotland a global leader in marine energy."

Paul Lewis, Managing Director, Sector and Commercialisation for Scottish Enterprise, added: "Each of the companies receiving a WATERS grant has the ambition and potential to exploit their projects for business growth.  We know there is a huge global appetite for clean and sustainable energy and, with projects like those announced today, Scotland is clearly demonstrating its leadership in marine energy innovation."