The funds were obtained from the Department of Energy and Climate Change (DECC) and the Offshore Wind Components Technologies Scheme of Technology Strategy Board (TSB).

As part of the agreement, wholly-owned joint venture company Gravitas Offshore will demonstrate the technique’s benefits and develop reliable standards for concrete offshore wind foundations.

England energy and climate change minister Greg Barker said, "This investment from DECC will help GRAVITAS Offshore Ltd develop and demonstrate the benefits of its innovative turbine foundation design, cutting costs for offshore wind and helping it enter the growing green market place.

Costain director of renewables Colin Duff said, "The UK renewable energy roadmap indicates a central range of up to 18GW for the deployment of offshore wind by 2020 and our solution will be instrumental in meeting these aspirations."

The company expects to construct a demonstrator foundation for deployment in UK waters within two years.