The European Union recently awarded Resolute Marine Limited a €50k SME Instrument Phase 1 grant for a project entitled “Demonstration of the economic feasibility of a wave powered desalination system.” The grant will enable Resolute to upgrade the financial models associated with the deployment of its first Wave2OTM project in Cape Verde and will complement the site characterization studies financed by the African Development Bank that are now underway. COO Olivier Ceberio commented: “we’re very excited to have won this award but it is particularly meaningful because it is an endorsement of our growth strategy in Europe.”
About Resolute Marine Limited (RML): Resolute Marine Limited (Ireland) is commercializing the world’s first wave-driven desalination system (trade named “Wave2OTM”) that operates solely on mechanical power and thus requires no connections to an electrical grid. RML is a 100% owned subsidiary of Resolute Marine Energy, Inc
About the H2020 SME Instrument Program: The SME Instrument is part of the European Innovation Council (EIC) pilot that supports top-class innovators, entrepreneurs, small companies and scientists with funding opportunities and acceleration services. Provided with about € 1.6 billion in funding over the period 2018-2020, the SME Instrument supports groundbreaking innovative ideas for products, services or processes that are ready to conquer global markets. Available to SMEs only, the new scheme offers phased, progressive and complementary support to the development of out-of-the-box ideas.