FUNDING has been secured to finance the next phase in the development of a new type of wind turbine.

The money for the Aerogenerator project has come from NStar's Three Pillars Fund and a research grant from regional development agency One NorthEast.

The equipment, being engineered by Aerogenerator at the New and Renewable Energy Centre (Narec), in Blyth, Northumberland, is seen as the next generation of turbines.

The Aerogenerator has no tower and rotates around a vertical axis, which harnesses wind energy from any direction.

The Three Pillars Fund investment will enable Aerogenerator to step up research and development of its invention, at Narec, which will act as its partner as they test prototype technology ahead of full-scale development.

Theo Bird, director of Aerogenerator, said: "This funding will help us to continue the development of Aerogenerator here in the North-East.

"We are pleased to report that the region's rich engineering heritage is very much alive and well in the renewables sector.

"We believe Aerogenerator can make a big impact. It's efficient and visually attractive. The technical innovations we've introduced make it more robust and stable, meaning we'll be able to build fewer, bigger turbines."

Dr Amanda McMurray, from Nstar, said: "New and renewable energy could generate up to £2bn for the regional economy through the development of cutting edge technology like the Aerogenerator."

Richard Marr, finance director at Narec, said: "Aerogenerator is an exciting and innovative project making a departure from standard wind energy technology to create new solutions for the offshore, onshore and built environments."

Will Adams, research and development finance manager for One North- East, said: "This investment shows OneNorthEast's commitment to businesses in the region.

"It is great to be able to support the firm at such an important stage in its development."