Business Irish

Saturday 18 November 2017

Marine energy firms get €3.5m from the State

Government funding for marine energy firms
Government funding for marine energy firms
Gavin McLoughlin

Gavin McLoughlin

Three marine energy firms have secured €3.5m in Government funding.

The funding will be used for the development and testing of new ocean energy technologies. Ocean Energy, SeaPower, and GKinetic are the firms involved.

Ocean Energy has secured €2.3m to design and build a full-scale version of an Ocean Energy Buoy wave energy converter which will be deployed and tested at a US Navy test site in Hawaii. That funding is being matched by €4.5m from the US Department of Energy.

SeaPower will receive over €1m to test its wave energy converter at quarter scale in Galway Bay.

GKinetic Energy will get €200,000 to conduct towing tests of their tidal turbine system - designed to harness energy from river and ocean currents - in Limerick Docks.

Irish Independent

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