Danish firm signs EUR-26m grant deal for wind-wave-hydrogen hybrid

Danish renewable energy company Floating Power Plant A/S said today it has signed an agreement with the European Commission's Innovation Fund for a EUR-26-million (USD 28.1m) grant to back its flagship wind-wave-hydrogen project in the Canary Islands.

The project called SEAWORTHY envisages the deployment at the PLOCAN test site off the coast of Las Palmas of a commercial-scale demonstration platform accommodating a 4.3-MW wind turbine, 0.8 MW of wave energy converters, and electrolysers with hydrogen storage and a fuel cell.

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The Danish company said in a statement that this project should elevate its proprietary technology from Technology Readiness Level 6 (TRL6) to TRL8.

"The EU's steadfast support underscores the maturity, potential, and viability of our technology. With SEAWORTHY, we are on the precipice of demonstrating the commercial benefits of integrating wave and wind energy with hydrogen production and storage,” commented Anders Kohler, the CEO of Floating Power Plant.

(EUR 1.0 = USD 1.081)