IRISH FUND OCEAN ENERGY

€4.3m announced for ocean energy research
5 October 2009 (RTE Business)

"Ten Irish companies developing ocean energy technologies are to receive €4.3m in funding from Sustainable Energy Ireland [SEI], the national energy authority has announced.

"Aimed at stimulating the development and deployment of ocean energy devices that can generate renewable electricity, the funding will enable the companies to take their proposals and prototypes to the next stage of development."

The Wavebob point-absorber ocean wave energy device. (click to enlarge)

"Participating companies include Wavebob Ltd and Ocean Energy, which have been trialling their prototype wave energy converters in Galway Bay, and OpenHydro, which is developing a tidal turbine system.

"Other companies receiving assistance in conducting research and feasibility studies include Technology from Ideas Ltd based in Waterford and the Marine Renewables Industry Association. Individual company grants range from €20,000 to €2m."

The OpenHydro seabed-mounted tidal stream device. (click to enlarge)

"Ireland is working to become a leader in ocean energy technology, and the government has set a target of having 500MW of ocean energy connected to the national grid by 2020.

"SEI's Ocean Energy Development Unit is working closely with development companies to test their technologies and make them not only operationally but also commercially viable."