PRESS RELEASE | Certification & finance for the marine energy sector   
MET-CERTIFIED brings marine energy technology developers
and investors together

​October 31, 2018
Edinburgh, UK – The relevance of certification in accessing commercial finance for marine energy technologies was subject of a workshop organized by the MET-CERTIFIED project as part of the Ocean Energy Europe 2018 Conference.
 
The goal of this workshop, led by Andrew Smith of Deja Blue Consulting, was to raise awareness about international certification as a positive tool in fundraising, and to discuss both the benefits and challenges of implementing certification during technology development.
 
The workshop brought together experts in standardization, technology and project development, installation, financing and insuring of marine energy projects.  Participants were challenged to formulate their own take-away messages at the end of the workshop.
 
A summary of statements:
  
“Certification is vital to reduce risks
and move down the cost curve” 
(project developer)
 
“If you talk to the researchers, certification is a curse.
If you talk to production, they will kiss you.
If you talk to the  engineers, it’s a mix of curse & kiss.  
But they can bridge the gap between research and commerce
using a common language around certification.”
 (wave energy developer)
 
“The level of certification needs to be appropriate
to the maturity level of the technology”
(investor)
 
“As our industry matures, there is an increasing needs for a structured pathway
for applying certification during the technology development”
(wave energy developer)
 
“Certification is about demonstrability”
(certification body)


This workshop was a unique event to bring different parties together to tackle this issue from a sectoral perspective – instead of a project or technology perspective.  Creating mutual awareness and understanding about the pathway towards international certification are important achievements of this workshop.

MET-CERTIFIED will provide follow-up actions to the participants. Results will become publicly available in due time.  To stay connected, please subscribe to the MET-CERTIFIED newsletter on
http://met-certified.eu/news-events.
Participants from left to right: Green Marine, Wave Energy Scotland, Andritz, Marine Power Systems, Seabased, Qed Naval, Ghent University, DMEC, Deja Blue, Morlais, DNV-GL, ORE Catapult, Renewable Risk Advisors, Highlands and Islands Enterprise Scotland, EMEC, Clydesdale Bank, Clyde Blowers Capital, Menter Môn & Ocean Energy Europe, AquaNET Power

ABOUT

MET-CERTIFIED
The MET-CERTIFIED project aims to accelerate the adoption of insurable and bankable marine energy technologies. This is done by advancing internationally recognized standards and certification schemes (under IEC)  and by applying them in eight test and verification cases.
 
MET-CERTIFIED receives funding from the Interreg 2 Seas programme 2014-2020, co-funded by the European Regional Development Fund under subsidy contract No 2S01-020. Also the Ministry of Economic Affairs in the Netherlands, the provinces of South and North Holland and the Belgian Province of West Flanders are offering financial support. 


Deja Blue Consulting
Mr. Andrew Smith has a long experience of helping companies to raise money, debt and equity, into marine energy projects like the Meygen Project.  He now also provides consultancy on strategy and with engaging with some of the quasi-government organisations.
  

Interreg 2 Seas Programme:
Interreg 2 Seas is a European Territorial Cooperation Programme covering England, France, the Netherlands and Belgium (Flanders). The Programme is part-financed by the European Regional Development Fund and has a total of €241m ERDF to co-finance projects in the 2014 – 2020 period.
The overall objective is to develop an innovative, knowledge and research based, sustainable and inclusive 2 Seas area, where natural resources are protected and the green economy is promoted. In order to realise this, projects that directly contribute to one of the specific objectives (such as “Low Carbon Technologies”) can be part-financed for up to 60 % of their total project budget.


More information?
Peter Scheijgrond, project coordinator MET-CERTIFIED
Dutch Marine Energy Centre
Tel: +31 6 11 38 76 82
E-mail:
peter@dutchmarineenergy.com

Dominique Dhondt, communication officer MET-CERTIFIED
Power-Link Ghent University
Tel.: +32 486 95 09 70
E-mail:
dominique.dhondt@ugent.be

Watch Andrew Smith explain the importance of certification on Youtube
Twitter: @METCertif