More than £1 million to help small companies in Scotland commercialize their innovative products was announced from the latest round of funding from the Scottish Executive’s SMART Scotland program. Among the winning projects was a wave energy converter company. The SMART Award will help the company to assess the feasibility of developing a wave energy machine, which will generate electricity from wave power. If successful, this technology aims to offer much improved power to unit mass outputs together with low construction costs when compared to existing systems. No further information was available.