Innovation
Irish Marine Renewable Energy centre gets €29m for "world-leading  research"
By Michael Hennigan, Finfacts founder and editor
Nov 15, 2013 - 9:30 AM

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University College Cork

Seán Sherlock, junior minister for research, announced funding of €29m today for a Marine Renewable Energy Ireland (MaREI) project at the Science Foundation Ireland Research Centre at University College Cork (UCC). In a typical horse before the cart situation, MaREI "will conduct world-leading research on all aspects of the marine renewable energy from marine robotics and materials to endure ocean conditions, to offshore wind, wave and marine energy devices as well as technologies to deliver power to the grid for electricity supply at home and abroad."

The centre will receive funding of €19m from the Department of Jobs, Enterprise and Innovation through Science Foundation Ireland (SFI) with a further €10.5m from 45 industry partners.

Sherlock said: "This investment has the potential to position Ireland at the forefront of the marine renewable energy research sector globally."

There is no data provided for the world-beating claims.

The taxpayer contribution is above 70% as firms can avail of the 25% R&D tax credit and other supports.

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