Irish wave energy company in deal with Chevron

Irish wave energy company Wavebob Ltd has today announced that it has agreed to provide technical consulting services to Chevron Technology Ventures (CTV), a division of Chevron USA, with regard to the conversion of ocean wave energy into useful power.

“This relationship is in line with my vision of Ireland being at the forefront of global ocean energy development,” said Minister for Communications, Marine and Natural Resources Noel Dempsey, who was present for the formal commencement of the relationship at the Marine Institute in Galway.

“I am delighted to see an Irish SME capitalising on this massive global opportunity”.

Wavebob has received support from the 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.

“For us, this isn’t just about developing a successful business,” said Wavebob CEO Andrew Parish. “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 $2bn (€1.5bn) on alternative and renewable energy technologies and energy efficiency services.