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Wave firm gets €3.5m

IRISH energy company Wavebob Ltd has secured grants of more than €3.5m to create a commercial-scale wave energy project.

Energy Minister Eamon Ryan said Bord Gais will invest €1.8m in the company, while a grant of €1.83m has been secured from the US Department of Energy.

The company has created a wave energy converter which, at full scale, can produce over one megawatt of energy.