A Significant Strategic Relationship
Wavebob Ltd, the leading Irish wave energy company, today announced that it has entered into a significant strategic relationship with Chevron Technology Ventures (CTV), a division of Chevron U.S.A., to provide technical consulting services with regard to the conversion of ocean wave energy into useful power. CTV, based in Houston, Texas, identifies, develops, integrates and commercializes emerging technologies and new energy systems including hydrogen-related technologies, renewable energy and nanotechnology.

Witnessing the formal commencement of the relationship at the Marine Institute in Galway, Mr. Noel Dempsey TD, Minister for Communications, Marine and Natural Resources today welcomed two senior executives from Chevron to Galway and commented "this relationship is in line with my vision of Ireland being at the forefront of global ocean energy development and I am delighted to see an Irish SME capitalising on this massive global opportunity".

Wavebob has received support from the Minister's department through its agencies, the Marine Institute and Sustainable Energy Ireland and was the first technology to be deployed on the Marine Institute’s wave test site in Spiddal, Galway, last year. The next stage prototype is due to be launched on this site in June this year.

Speaking in Galway, Andrew Parish, CEO of Wavebob said "For us, this isn't just about developing a successful business; it's also about working with people who share our vision of building a future that runs on green energy.  We work at the cutting edge of energy science and technology and this relationship with Chevron positions us as one of the leading global wave energy technologies. The support from the Irish Government, through its agencies, has allowed us to accelerate our development programme and raise our profile on a global platform".

Chevron is investing across the energy spectrum to help diversify the world’s energy supply. Between 2002 and 2006, Chevron spent approximately $2 billion on alternative and renewable energy technologies and energy efficiency services. Chevron is one of the world's leading energy companies. With more than 56,000 employees, Chevron subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and refining, marketing, and distributing fuels and other energy products