Andrew Parish, CEO of Wavebob Ltd., Ireland's leading wave-energy development company, has warmly welcomed the announcement by the Minister for Finance Mr. Brian Cowen T.D., that €7 million capital funding is to be allocated to Energy Research, focusing on the development of renewable energy from ocean sources. However, Mr. Parish points to the establishment of a single agency to fund ocean-energy development companies as a matter of great urgency.

Wavebob First Irish Company to Harness Wave Power

Trials of a unique Irish ocean wave energy converter yielded exciting results today with Wavebob Ltd's announcement that their prototype device is now producing electricity. Only a small handful of companies worldwide have managed to produce wave electricity and Wavebob has now become the first Irish company to join their ranks.

Wavebob Ltd and Intel came out on top of the innovation stakes at an awards ceremony in Dublin in December. The awards were presented at the Art of Innovation, an Engineers Ireland seminar, and were attended by business leaders in the high-tech and engineering industries. Wavebob Ltd, an Irish green energy company, has spent the past seven years developing a highly innovative technology for the conversion of ocean wave energy to useful power.

Irish wave-energy company Wavebob has entered what it describes as a significant strategic relationship with Chevron Technology Ventures (CTV).

The deal with CTV, a division of Chevron USA, will see the Irish company provide technical consulting services in connection with the conversion of ocean wave energy into useful power.