A BRITISH-ITALIAN wave energy company has become the first international client to set up camp in Plymouth University's new marine building, writes Business Editor William Telford.

The 40South Energy Ltd firm has signed a contract with the university.

The deal is the first for the £19million Marine Building, which will offer business collaboration space for marine-focussed enterprise when it opens later this year.

It comes after Government plans were announced to establish the South West as home to the country's first Marine Energy Park.

Adam Corney, Plymouth University's marine commercial director, said 40South Energy Ltd decision "demonstrates the potential we have here in the city and wider region".

He added: "The university will continue in its efforts to bring investment and expertise in through its international contacts."

40South Energy Ltd is based in Pisa and London, and will initially establish Giovanni Rosato, a project engineer and business developer in the university's Formation Zone incubation centre this month .

Once the marine building opens, the operation will move to its facilities, which include cutting edge wave-generation facilities crucial for testing marine energy-generating technology.

Dr Michele Grassi, 40South Energy Ltd's chief executive, said: "I am very pleased we can use the facilities at Plymouth University to establish an operational base in the South West of England which will become an area of strong growth for our company.

"It will also give us direct access to the excellent researchers who can support our other projects with skills like environmental impact assessments."

Professor Julian Beer, Pro Vice-Chancellor for regional enterprise, said the deal was a significant moment for the Peninsula Growth Acceleration and Investment Network (GAIN), which part-funded the building and has a significant objective in terms of supporting commercialisation activities.

He said: "The GAIN team will be working closely with 40South Energy – and all other clients – on the commercialisation opportunities around new research.

"It will also be able to provide links to supply chain companies and other support as well as potential investment opportunities."