US tidal power company ResHydro is to set up in Scotland.
The move follows news of a £100,000 Smart:Scotland award from Scottish Enterprise.
ResHydro is said to be the first American renewable energy inward investment in Scotland and it will work in partnership with Strathclyde University.
Establishing a base in Glasgow will allow the company to develop its hydrokinetic energy generation device.
First Minister Alex Salmond said: “Scotland has an incredible wealth of energy resources and is leading the way in the development of marine renewables technology.
“ResHyrdo’s decision to invest in Scotland and work in partnership with one of our leading universities to further their research and development plans is testament to that.
“Scotland has hit the natural lottery twice, first with oil and gas and then with our green energy resources.”
Anne MacColl, chief executive of Scottish Development International, said wave and tidal energy was an exciting area of development, where Scotland was already demonstrating world-leading technologies and generating international interest.
Samuel Lewinter, chief executive of ResHydro, said: “The Smart:Scotland award, coupled with our partnership with Strathclyde University, positions ResHydro in the most vital marine power industry market. 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.”
Professor Sir Jim McDonald, principal of Strathclyde University, said it was working with ResHydro to develop its research and development capabilities and support the company’s ambitious plans.
He added: “Strathclyde University is home to the largest electrical power engineering and energy research grouping in Europe and our strong links with industry will ensure that Scotland continues to flourish as a leader in this vitally important sector.”
ResHydro is said to be using cutting-edge industrial science to harness the power of water currents to produce electricity.
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