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| £10m marine energy prize unveiled | £10m marine energy prize unveiled |
| (about 1 hour later) | |
| A £10m prize for innovation in renewable marine energy is to be announced by the first minister during his trip to the US. | A £10m prize for innovation in renewable marine energy is to be announced by the first minister during his trip to the US. |
| Alex Salmond will give more details of the Saltire prize in a Scotland Week event at National Geographic's world headquarters in Washington. | Alex Salmond will give more details of the Saltire prize in a Scotland Week event at National Geographic's world headquarters in Washington. |
| He believes the economy could reap huge rewards by sponsoring research in wave and tidal technology. | He believes the economy could reap huge rewards by sponsoring research in wave and tidal technology. |
| Mr Salmond will also urge US firms to choose Scotland as a European base. | Mr Salmond will also urge US firms to choose Scotland as a European base. |
| It is thought the seas around Scotland could generate a quarter of Europe's tidal power and 10% of the continent's wave energy. | It is thought the seas around Scotland could generate a quarter of Europe's tidal power and 10% of the continent's wave energy. |
| The government hopes its offer of £10m will inspire scientists from across the world to work out new ways of cashing in on marine renewables. | The government hopes its offer of £10m will inspire scientists from across the world to work out new ways of cashing in on marine renewables. |
| 'Huge impact' | |
| It has been billed as the world's largest single prize for marine power technology. | |
| To be eligible for the prize, innovations must be commercially viable and be demonstrated in Scotland. | |
| Mr Salmond told BBC Scotland that he was confident the link-up with National Geographic would ensure entries were attracted from across the world. | |
| He added: "This is going to have a huge impact. It will be the world's biggest prize in marine renewables and it will be treated extraordinarily seriously. | |
| "The history of such innovation prizes shows that they repay their investment many, many times over. | |
| "I think it is exciting news and an exciting day for Scottish renewables, and for marine renewables in particular." |