Galway-based Wavebob Ltd is now at the forefront of renewable energy initiatives, with Andrew Parish, the company's CEO, hailing the Ocean Energy Initiative launched last week by Energy Minister Eamon Ryan as the Government's most progressive step to date in wave energy development in Ireland.

"As a wave energy world-leader, we believe that today's announcement gives Irish wave energy technology companies a significant advantage in a rapidly developing and competitive global sector. For many years, we at Wavebob Ltd have been calling on Government to develop Ireland as an international centre of wave energy excellence and I am delighted to see that each element of the initiative announced today is in line with our recommendations.

"The new guaranteed price for wave energy of 22 cent per KW hour is a particularly encouraging incentive for wave energy companies who are spending millions of euro on the research and development of innovative wave technology. This guaranteed price, along with the other measures announced today, accelerates the development of commercial wave energy farms and will make investment in wave energy facilities a much more attractive proposition for major electrical utilities. 'Blue' power produced from the waves, will, in the long-term, be much cheaper for the consumer, safer for the environment and will have the added bonus of creating thousands of jobs here in Ireland," concluded Mr Parish.

Wavebob Ltd recently announced that they are the first Irish company and one of only a handful worldwide to have successfully harnessed wave power. Recent trials in Galway Bay of their prototype ocean wave energy converter were successful in producing electricity, putting the company firmly amongst the frontrunners of a small number of international companies vying to be the first to provide commercial-scale wave-power.

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