Details of, what is being described as, the "world's biggest ever international innovation prize" were released this evening (2nd December)as Professor Anne Glover, Chief Scientific Adviser for Scotland and Chair of the Challenge Committee unveiled the details of the £10 million Saltire Prize. Speaking at the launch in Edinburgh Castle, Prof Glover explained that the prize will be awarded to the team that can demonstrate in Scottish waters a commercially viable wave or tidal energy technology that achieves a minimum electrical output of 100 GWh over a continuous 2 year period using only the power of the sea and is judged to be the best overall technology after consideration of cost, environmental sustainability and safety.

"Scotland has an outstanding history in science, engineering and technology and continues to excel", said Prof Glover. "It is natural that we set an inspirational challenge to the world. The Saltire Prize challenge aims to accelerate the rate at which wave and tidal technologies can deliver power output that will represent real commercial opportunity. And make a meaningful contribution to Scotland's ambitious renewable energy and carbon emissions targets."

Commenting on the launch of the Saltire Prize, Scotland's First Minister Alex Salmond said; "It is Scotland's energy challenge to the world - a challenge to the brightest and best minds worldwide to unleash their talents and push the frontiers of innovation in green marine energy."

He continued; "The Saltire Prize has the potential to unlock Scotland's vast marine energy wealth, putting our nation at the very forefront of the battle against climate change, to make a lasting and decisive difference to our planet.

"The prize-winning solution will herald a historical breakthrough in renewable development and strengthen Scotland's place in the world as a leader in clean, green energy.

"The reward for Scotland is to maximise our natural resources and competitive advantage in renewable energy, lead the fight against climate change and reap the full economic benefits that come with the position of a world-leader in renewable energy.

"I would like to thank all the Challenge Committee and the Technical Advisory Board for their work and I wish all the possible entrants the very best of luck."