Irish wave energy technology company Ocean Energy makes a splash in the US
News
31 January 2018
Dublin, 31st January 2018: Irish wave energy technology company, Ocean Energy, today announced that its pioneering wave energy convertor, the ‘OE Buoy’, will be built in the United States by Oregon-based marine-fabrication company Vigor, and deployed at the US Navy’s Wave Energy Test Site on the Hawaiian Island of O’ahu in autumn 2018. The contract value is €5.25 million out of a total project value of almost €10 million for this first of a kind grid-scale project at the Hawaiian test site.
Commenting on this positive development, Tánaiste and Minister for Foreign Affairs and Trade, Simon Coveney, said, “Building on the Irish-US government MoU for collaboration on marine and hydrokinetic energy technologies’ research, Ocean Energy and its partners are demonstrating how transatlantic cooperation can yield immensely productive results — Irish innovation coupled with US engineering is providing the US Navy Wave Energy Test Site with sustainable and logistical gains and a template for future large-scale projects.”
“With rigorous testing and scaling of OE Buoy over the past ten years, today’s announcement of the device being built in Oregon represents a truly major milestone for Ocean Energy,” said John McCarthy, Ocean Energy Chief Executive Officer. “It’s the combination of Irish innovation and American manufacturing expertise and that’s always going to produce a world-class result. We are delighted to be partnering with Vigor, a renowned US marine and industrial fabrication company, who have a track record of delivering cutting edge engineering projects. This internationally significant project will be invaluable to job creation, renewable energy generation and greenhouse gas reduction.”
“With the support of Enterprise Ireland, we have been actively pursuing opportunities in North America. The marine renewables market is rapidly expanding, with the potential of marine energy meeting a significant percentage of the global energy demand. The United States has a substantial wave energy resource, which could deliver up to 15 percent of its annual electricity demand, which would represent a considerable market in electricity sales alone.” added John McCarthy.
Welcoming today’s announcement, Sean Davis, Regional Director of Enterprise Ireland North America said “Irish SMEs are ranked number one for innovation in Europe and this is a key differentiator that helps Irish companies win business around the world. Ocean Energy typifies the type of world-class technology innovation that emanates from Ireland that’s delivering advantages for companies internationally. Enterprise Ireland has invested in and supported Ocean Energy to win business abroad, with a particular focus on gaining traction in North America. Their partnership with Vigor and the US Navy is a milestone development, which paves the way for further international expansion for the company.”
The €10 million project is part-funded by the US Department of Energy’s office of Energy Efficiency and Renewable Energy (EERE) and the Sustainable Energy Authority of Ireland (SEAI), under a 2012 agreement committing the American and Irish governments to collaborating on marine hydrokinetic technologies.
“SEAI invests in research and innovation to promote the development of new technologies. For a number of years, we have supported Ocean Energy and are delighted to see them reach the significant milestone of full scale sea trials. It is also great to see Irish companies benefitting from continued US Ireland collaboration in sustainable energy, and using the wave energy facilities and resources to best effect.” stated Jim Gannon, CEO, SEAI.
The 750-tonne “OE Buoy” measures 38 x 18 metres with a draught of 9 metres and has a potential rated capacity of up to 1.25 MW in electrical power production. In Ireland, each deployed commercial device could reduce CO2emissions by over 4,370 tonnes annually, which for a utility-scale wave farm of 100 MW could amount to over 218,000 tonnes of CO2 in a full year. It is estimated that a 100 MW wave farm could power up to 47,000 Irish homes. The technology could deliver up to 15,000 jobs to the Irish Economy by 2030 and go on to create substantial export potential both for the technology and the energy generated.
ENDS
For reference, please contact: John McCarthy +353 86 2535282 or jmc@oceanenergy.ie
Notes to Editor:
About Ocean Energy USA:
Ocean Energy USA LLC is a wholly owned subsidiary of the Ocean Energy Group and is actively pursuing opportunities in the US market. Marine renewables represent a market space that is relatively small at present but is expected to grow rapidly over the coming decade. The opportunity for marine energy is that it can meet a significant percentage of the global energy demand. In the United States, the technical potential of wave energy for example could meet roughly 15 percent of the electricity needs, which would represent a market of about $50bn/year in electricity sales alone. Globally, wave power could meet up to 10 percent of the electric energy needs.
About Ocean Energy Group:
Ocean Energy is the trading name of New Wave Technologies Limited, part of a specialised commercial group of companies developing wave energy technology. The group’s companies are developing technology which has been extensively tested and is now at a stage where it is one of the most commercially viable technologies for harnessing the power of the oceans. The device, through careful development, has the advantages of a robust and practical design, one moving part and proven survivability having withstood over three years of live sea trials in Atlantic waves at the Irish Wave Energy Test site in Galway Bay, to date, no other Wave Energy system can claim success in this area to a similar or greater extent.
About Enterprise Ireland:
Enterprise Ireland is the Irish State agency that works with Irish enterprises to help them start, grow, innovate and win export sales in global markets. Enterprise Ireland partners with entrepreneurs, Irish businesses, and the research and investment communities to develop Ireland’s international trade, innovation, leadership and competitiveness. In this way, we support sustainable economic growth and regional development, and help create and sustain employment in Ireland. www.enterprise-ireland.com
About Vigor:
Vigor is an innovator in complex fabrication, a specialized shipbuilder and a ship repair powerhouse. With approximately 2,300 employees and eight locations in Oregon, Washington and Alaska, all Vigor companies share common goals: providing world-class maritime and industrial services to build the products customers need, to build the family-wage career opportunities craftspeople deserve, and to strengthen the communities where Vigor employees live and work. For more information, visit vigor.net.