The Sustainable Energy Authority of Ireland (SEAI) has made grants totalling €4.3 million to 15 new marine energy projects.
Firms awarded funding include DP Energy Ireland, ESB, Blue Power Energy and Sea Energies. The award was made under SEAI's Prototype Development Fund.
"The government through its departments and agencies is dedicated to developing an indigenous ocean energy industry, which is a real opportunity that will deliver future economic and societal benefits for the citizens of Ireland," said Declan Meally, Head of Emerging Sectors, SEAI.
Other firms to win funding include GKinetic Energy, GRSI, and Swirl Generators.
SEAI's Prototype Development Fund aims to stimulate the development and deployment of ocean energy devices through industry-led projects that develop, test and monitor wave and tidal energy capture devices. It also supports projects that monitor data and develop communications and control systems for ocean energy devices.
"With a sea area ten times our land mass, this market has the potential to be worth €15 billion to Ireland's economy by 2050. Irish companies are making innovative technology developments and SEAI since 2009 has made grant offers of almost €12m to 68 technology projects," Meally added.
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