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Minister Announces €2.4m Investment By Marine Institute In Industry-Led Marine Projects

14th January 2019
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Awardees in the industry-led scheme will share in a €2.4 million funding pot over the next three years Awardees in the industry-led scheme will share in a €2.4 million funding pot over the next three years Photo: Marine Institute

Marine Minister Michael Creed TD has announced that the Marine Institute is to provide 12 marine businesses (in collaboration with five universities) with investment funding totaling €2.4 million over three years.

Read the full allocation of the grant recipients here

The funding is being provided to drive continued innovation in Ireland;s ocean economy, a key requirement of the Marine Institute-led National Marine Research and Innovation Strategy 2017-2021.

The 12 grants of up to €200,000 each, which are being provided to individual companies and company-led consortia, will support novel R&D and the development of new technologies in key growth areas such as marine engineering, renewable energy and the blue bioeconomy.

Minister Creed said: “Ireland’s blue economy continues to grow and develop in line with the targets of the national integrated marine plan, Harnessing Our Ocean Wealth.

“Indigenous small and medium enterprises are identifying new commercial opportunities across a range of marine sectors which can lead to economic growth and new jobs. 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 12 successful companies develop and grow their businesses with the support of this significant public investment funding.”

Marine Institute chief executive Dr Peter Heffernan added: “The Marine Institute is committed to assisting industry-led development through knowledge transfer, capacity building, research and innovation. This investment in industry-led research is a key deliverable of the Marine Institute Strategic Plan 2018-2022: Building Ocean Knowledge, Delivering Ocean Services.

“Job creation in the marine sector is increasing as a result of such investment and Irish marine companies have built an excellent reputation internationally for innovation and best practice. The 12 companies receiving funding through this funding call have demonstrated the demand and capability to fuel further growth through marine research.”

Increased economic growth and job creation from small and medium-sized enterprises based in Ireland is a key component of several national strategies and regional development plans. These awards will be carried out with the support of the Marine Institute under the Marine Research Programme 2014-2020 funded by the Government, co-financed by the European Regional Development Fund (ERDF).

A diverse range of companies applied to the Marine Institute, following the launch of its industry-led call in May 2018.

Awards have been approved for companies operating in a range of marine sectors including companies such as SolarMarine Energy (€195,465 for a floating solar hybrid energy project), Gavin & Doherty Geosolutions (€199,957 for a morphodynamic study of the Irish Sea), Subsea Micropiles (€199,902 for development of micropile technology in subsea environments), Marine Materials Ltd (€199,816 for its Eureka-SeaWind offshore wind energy project), Exceedence Ltd (€199,532 for its inline gator for aquaculture), w1Da Experience (€198,763 for its marine EcoPowa project) and Resolute Marine (€199,955 for its oscillating wave surge converter design).

Bioresources processing company Bio-marine Ingredients Ltd, was awarded €200,000 for the development of marine functional food to support healthy ageing in older adults, while advanced technologies companies Xocean Ltd (€199,739 for fisheries surveys using ‘swarms’ of unmanned vessels) and IDS Monitoring (€196,275 for its ‘smart buoy’ project), and marine engineering companies Technology from Ideas (€199,960 for the Aquamoor sustainable mooring for shellfish and seaweed) and Ocean Energy (€195,565 for engineering advanced material for marine energy and aquaculture) were also successful in their funding applications.

Published in News Update
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