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.

"This €7 million is essential if Ireland is to be firmly established as a centre of excellence in the development of ocean energy technology.   However, in tandem with this financial support, it is essential that these funds are administered in a co-ordinated fashion.  The Programme for Government 2007 promises the establishment of an Ocean Energy Development Unit and I sincerely hope that this unit will now be established as a matter of priority. 

Currently, companies such as Wavebob Ltd., must apply to numerous sources for funding, such as the Marine Institute, Sustainable Energy Ireland and Enterprise Ireland.   Their support is essential to the development of wave-energy, but this 'pick and mix' approach to funding creates an unnecessary administrative burden.   One single point of contact is needed in order to access funding, which in reality, all comes from the same place; Government. "

Andrew Parish, CEO, Wavebob Ltd.

Wavebob Ltd. recently announced that they are the first Irish company and one of only a handful worldwide to have successfully harnessed wave power.   Recent trials in Galway bay of their prototype ocean wave energy converter were successful in producing electricity, putting the company firmly amongst the frontrunners of a small number of international companies vying to be the first to provide commercial-scale wave-power.   

"This and other energy-related announcements by Minister Cowen today shows clearly that the Irish Government and Minister for Communications, Energy and Natural Resources, Eamon Ryan T.D. are now putting a significant emphasis on green issues.   Minister Ryan and Minister Cowen are clearly aware that Irish research into wave-energy is producing enormously encouraging results, as evidenced by the successful trials of the Wavebob device.   Wave energy is a massive 'blue energy' resource sitting on our doorstep waiting to be exploited.  If targeted at the small number of internationally recognised Irish wave energy companies, this investment will give a much needed boost to a sector that has the potential to create 2000 jobs and to be one of our most important indigenous industries of the future."

Andrew Parish, CEO, Wavebob Ltd.