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Cornwall, UK, December 10, 2024 - (500NewsWire) -- Blue Abyss is delighted to announce its successful selection as a recipient of match-funding from The Crown Estate’s Supply Chain Accelerator Fund.

This funding will enable pre-development work for the pioneering Blue Abyss facility in the Southwest, including site selection, further solidifying the company’s commitment to innovation and sustainability in extreme environments which will be an integral component for supporting the growth of the floating offshore wind supply chain.

 This important funding supports Blue Abyss’ efforts to enhance the UK’s capacity and capability for floating offshore wind infrastructure, aligning with national priorities for renewable energy expansion. The funding will be part of the £1.5 million investment by Blue Abyss, in the early-stage development of the UK’s premier research, training, and test facility.

"We are thrilled to receive this pivotal support from The Crown Estate’s Supply Chain Accelerator Fund. This is a testament to the confidence in Blue Abyss as a key player in enabling cutting-edge solutions and support for floating offshore wind, UK energy security and resilience as well as net zero targets. Our UK facility will be a world-class hub for research, innovation, and talent development, and this funding brings us one step closer to making that vision a reality."

John Vickers, Chief Executive Officer.

Building the Future of Renewable Energy

Blue Abyss UK will serve as a groundbreaking platform to support industries operating in extreme environments, from offshore wind to subsea technologies. With its state-of-the-art infrastructure, the facility will provide essential testing, training, and operational support, ensuring the UK maintains its leadership in global innovation, particularly in floating wind energy and Subsea technologies.

The Blue Abyss UK centre is forecast to create up to 200 jobs directly and contribute an estimated £80 million to the regional economy during construction, then a further £10 million annually, reinforcing the South West's status as a centre for research, innovation and industrial advancement, and its critical part in ensuring there are the right people with the right skills to support the UK’s future renewable energy needs.

This initiative is aligned with the UK’s commitment to achieving Net Zero and supports the ambitions of the Modern Industrial Strategy 2035. Recognising the need for such infrastructure, this funding by The Crown Estate – which manages the seabed and much of the coastline around England, Wales and Northern Ireland on behalf of the nation – underscores the importance of this development in meeting the market’s demands for transformative, sustainable solutions.

By integrating world-class facilities with a vision for sustainability and economic growth, Blue Abyss is enabling a future where renewable energy thrives in harmony with the UK’s environmental and industrial goals.

About Blue Abyss:

Blue Abyss aims to deliver world-Class Infrastructure for the UK, to address the challenges and opportunities in the subsea technologies, offshore wind, marine, maritime and defence sectors. Delivering a £250 million infrastructure project in the Southwest will help the UK achieve its strategic regional and national goals, including:

• Net Zero, Renewable Energy and Green Maritime
• Innovation, Research and Development
• Critical National Infrastructure, Defence and Energy Security
• Regional and National Economic Development
• UK’s National identity as a leader and innovator
• Modern Industrial Strategy and growth

The Blue Abyss UK centre, alongside the first centre in Cleveland, will feature the world’s largest and deepest R&D pools, measuring 40m by 50m on the surface, with a 16m wide shaft plunging to a depth of 50m. It will hold 42,000 cubic metres of water, enough to fill 17 Olympic-sized swimming pools.

 Southwest UK economic Impact:

The construction phase is expected to add around £80 million GVA to the local economy and provide 1,289 person-years of employment both directly and through the construction supply chain. The presence of the Blue Abyss UK Centre is expected to have a positive permanent economic impact on the area, adding £10.1 million per annum to GVA and supporting around 200 full-time equivalent jobs that are new to the area. The project, once operational, is expected to generate economic benefits over an assumed 30-year lifetime.

 Source: Independent Economic Impact Assessment, Plymouth and Devon Freeport

For further information:
E-mail: [email protected]
Visit: www.blueabyss.global
 
 
For more information on The Crown Estate’s Supply Chain Accelerator, please visit: Supply 
Chain Accelerator Fund | The Crown Estate