Eco energy company rides on a wave of success

IRELAND’S most advanced wave power company plans to raise up to €20 million next year towards the commercial development of a sea-driven turbine currently generating power off the west coast.

Operating in some of the most extreme weather conditions in the world, the first reliable constant flow of wave power ever produced in Irish waters is being generated in Galway Bay by the OE Buoy, a quarter-scale, 28-tonne prototype which has survived winter storms and 50-year wave conditions over its last two years at sea.

Announcing the move to raise investment capital of up to €20m in the next six months, John Keating, commercial director of Ocean Energy (OE), stated yesterday that the company is poised to generate commercially viable electricity to meet Ireland’s energy demands and helping to provide a security of energy supply for Ireland.