Ocean energy deal to create 35 jobs

Cork-based Ocean Energy Ltd has signed a multi-million euro deal to test its wave generator at an offshore marine energy test site near Cornwall, England.

The signing of the contract will create up to 35 engineering jobs. The jobs will be created in the fabrication phase of Ocean Energy’s first full-scale generator. It is yet to be announced where the jobs will be based but the quarter-scale prototype generator was built by Ad Fab in Cork Dock Yard.

Ocean Energy expects to deploy its first full-scale device costing €9m at Wave Hub off the north coast of Cornwall by the end of the year.

Ocean Energy is receiving €1.2m funding from Wave Hub to cover the cost of securing a marine licence and installation of moorings and deployment. The rest of the funding will come from engineering industry investors and a number of oil and gas companies.

“This is a major achievement for Irish technology, which has been developed with the assistance of Irish government funding and expertise at the UCC Hydraulics and Maritime Research Centre,” said Ocean Energy’s chief executive and co-founder John McCarthy.

“It is also an endorsement of the technology development path adopted by Ocean Energy.”