Galway’s Marine Institute is backing twelve small enterprises driving new innovations in marine technology with €2.4 million in funding.
Twelve grants of up to €200,000 each are being delivered to twelve companies working with marine technology to support R&D in sectors like marine engineering, renewable energy and the blue bioeconomy.
Minister for Agriculture, Food and Marine Michael Creed said the Marine Institute will deliver the grant funding over the next three years.
Marine Institute CEO Dr. Peter Heffernan said, “The Marine Institute is committed to assisting industry-led development through knowledge transfer, capacity building, research and Innovation.”
He added that, “Job creation in the marine sector is increasing as a result of such investment” and that Irish companies have developed an excellent international reputation for their work on marine technology.
These awards will be carried out with the support of the Marine Institute under the Marine Research Programme 2014-2020 funded by the Irish Government, co-financed by the European Regional Development Fund.
The Marine Institute put out a call for applications last year which was eagerly answered by many companies developing marine technology.
Bio-Marine Ingredients Ireland was awarded €200,000 to develop marine functional food that supports muscle health and good aging for older consumers.
Technology From Ideas is receiving €199,960 for its Aquamoor project, while Gavin & Doherty Geosolutions have been granted €199,957 to carry out a morphodynamic study of the Irish Sea.
Xocean Ltd are taking fisheries surveys into the 21st century by using a swarm of unmanned surface vessels which they will further with a €199,739 grant.
SolarMarine Energy were awarded a grant for €195,465 to develop a floating solar hybrid energy project.
And following a similar line, €199,816 will go to Marine Materials Ireland to create lighter, more cost effective floating offshore wind platforms.
IDS Monitoring are developing Smart Buoys with state of the art monitor systems for which they have been awarded €196,275.
Resolute Marine won a grant of €199,955 for their renewable energy technology harnessing ocean waves.
A grant of €199,902 was awarded to Subsea Micropiles to develop their micropile technology, used to build foundation on the seafloor.
Exceedence Ltd provides financial software for renewable energy companies, they have been awarded €199,532 for the 1kw Inline Gator aquaculture application.
Ocean Energy Ltd has been granted €195,565 to continue their engineering of advanced materials with marine energy and aquaculture applications.
And lastly w1Da Experience Ltd will use €198,763 for their Marine EcoPowa Project.
Minister Creed said Ireland’s marine economy is growing as small and medium enterprises take advantage of opportunities in different sector and continue to innovate with marine technology.
“These industry-led awards provide the opportunity for companies to build their R&D capacity and to innovate towards new products and processes.”
“I look forward to seeing the twelve successful companies develop and grow their businesses with the support of this significant public investment funding.”