Madrid, Spain and Dublin, Ireland: Irish ocean wave power company, Wavebob, and Spanish technology company, Abengoa, today (21 March, 2011) announced a new research collaboration which will see the two companies jointly working on the research, development and commercialisation of wave energy systems.
The collaboration was secured with the support of Enterprise Ireland’s Spanish office and was announced during the official visit by President of Ireland Mary McAleese to Spain.
The collaboration is to take place over a period of at least six years to rapidly complete an R&D agenda to meet the growing commercial wave energy opportunities in Europe and the US.
Wavebob’s unique wave energy convertor, which harnesses the immense power of the ocean to produce clean, low cost electricity, is considered to be one of the world’s leading wave energy technologies. At full scale, the device will be capable of producing in excess of one megawatt of energy with a 100-unit wave farm providing power for more than 30,000 homes.
Abengoa is an international company that applies innovative technology solutions to sustainable development in the energy and environment sectors, generating electricity from the sun, producing biofuels, desalinating sea water and recycling industrial waste.
Speaking at the announcement of the partnership, Andrew Parish, CEO of Wavebob said:
“With Abengoa’s position as a leading energy technology developer, this collaboration provides immense expertise and global reach to Wavebob. Abengoa truly understands the challenges of developing advanced energy technology and converting that challenge to a financial opportunity. Together we share the ambition to lead the world in the commercial exploitation of the immense, and as yet untapped, ocean energy resource.”
Jose B. Terceiro of Abengoa added:
“Wave energy is very well aligned with Abengoa's strategy of developing innovative technology solutions for sustainability and that is why we consider it worthwhile to conduct joint R&D efforts with the right partners and explore the potential within this new business field”.
CEO of Enterprise Ireland Frank Ryan added:
“Wavebob is an exciting young Irish company that is at the forefront of the emergent ocean energy sector. International collaboration can be extremely effective in driving innovation forward – particularly in cutting edge areas such as marine renewable energy. This collaboration is an important partnership that will further progress Wavebob’s innovative wave energy conversion technology.”
For more information contact:
Tel. +353 1 7272284