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Displaying items by tag: investment

Seven renewable energy projects are benefitting from a significant funding injection following investment by the Marine Institute’s industry-led awards, as reported last month on Afloat.ie.

With the aim of driving innovation in the marine sector and accelerating renewable energy breakthroughs, funding of up to €200,000 was awarded to each of the research projects to be conducted by indigenous companies, with some including university partners.

Speaking at the funding announcement, Marine Institute chief executive Dr Peter Heffernan said: “The diversity of renewable energy projects benefiting from this funding demonstrates the innovation and expertise that we are developing in Ireland in this sector.

“From research on the impact of floating platform technology to subsea micro-piling to hybrid solar and wind energy devices, the commercial opportunities of these projects are very exciting. We are committed to supporting marine enterprises in Ireland to drive Ireland's blue economy.”

Gavin & Doherty GeoSolutions is being awarded €199,957 over two years for their research project in partnership with University College Cork that will involve a geological, geotechnical, sediment and morphodynamic assessment of designated areas of the Irish seabed.

Predictive sediment transport modelling, validated against field data, will be used to characterise future seabed changes and to quantify the risk for future potential offshore wind developments in the Irish sea.

The outcomes of the project will support developers in efficient design, installation and maintenance planning of offshore renewable assets and will reduce the risk associated with future wind farm developments in the Irish Sea.

Two projects in the area of floating energy platforms were also successful in their research funding applications.

Solar Marine Energy will receive €195,465 over two years, in partnership with UCC, to progress how solar energy can be harnessed on a floating platform to power an electrolysis unit to produce Hydrogen in an electro-fuel form while using battery storage for the release of power as and when required.

Solar Marine Energy Ltd (SME) is one of the first companies to design, engineer and manufacture cost-competitive floating solar energy products in its Floating Solar Panels, in accordance with maritime industry best practice.

To make floating wind a commercial reality, further technology innovation is necessary. The Eureka-Sea Wind project proposed by Marine Materials Ireland Ltd (MMI) will also receive €199,816 over two years to develop reliable and efficient floating wind turbine technology based on a novel concept that reduces cost and weight.

Based in Ireland and the USA, Resolute Marine Ltd has developed a successful Oscillating Wave Surge Converter (OWSC) flap system.

Now with a funding boost of €199,955, Resolute Marine will bring the OWSC from concept to robust design that is optimised for locations in the developing countries and islands targeted for commercial installations of RML’s innovative wave-powered desalination systems.

This project is set to advance the Irish wave energy industry and provide jobs for three additional highly trained experts in the fields of hydrodynamics, ocean engineering and project management.

Subsea Micropiles is being awarded €199,902 for research on the design and temporary installation of two demonstration micropile anchors.

The anchor frames will represent structures that would support the foundations of offshore wind turbines or hydrokinetic energy converters. The two anchors will be load tested both horizontally and vertically and the results compared with design predictions.

This type of micropiling technology for subsea environment provides a real and cost-effective alternative to current subsea micropiling models.

Use of robotically installed micropiles in the subsea environment represents important innovation and potential cost saving for marine renewable energy projects.

Fish farmers are actively searching for renewable energy sources to replace the diesel consumption, which causes concerns in relation to emissions and increases risk of oil spills when transporting diesel to the feed aquaculture barges.

Wind and solar generation on fish farm cages currently do not meet the power needs and can be fundamentally challenging and particularly high maintenance, when mounted so close to the ocean itself.

Wave energy, especially when coupled with the existing mooring system, is seen as a very appealing solution.

Exceedence and TfI Marine secured €199,532 in funding to research and develop a revolutionary 1kW Inline Gator system. The Inline Gator will harness the natural power of the waves by converting the motion of the fish cage into electricity thereby mitigating the need for fossil fuels.

W1DA Experience Ltd is also being awarded €198,763 in funding for the Marine EcoPowa Project in partnership with the University of Southampton and UCC.

The project aims to create a new generation of medium power (12-15KW/20-30HP) environmentally–friendly marine propulsion and energy regeneration systems that will replace what is currently termed as “outboard motors”.

The potential financial benefits to boat users in Ireland are significant, potentially costing less than half that of petrol and diesel motors over a 10-year lifetime.

The Marine Institute says it is committed to assisting industry-led development through knowledge transfer, capacity building and research to enable optimal decision making and planning to best leverage Ireland’s natural marine resources sustainably and efficiently.

This investment in marine enterprises is a key output of the Marine Institute Strategic Plan 2018-2022: Building Ocean Knowledge, Delivering Ocean Services, guided by the Government’s integrated marine plan Harnessing Our Ocean Wealth as well as the National Marine Research and Innovation Strategy 2017–2021.

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. Funding for these seven renewable research projects is being provided by the Marine Institute and the Government, co-funded under the European Regional Development Fund (ERDF).

Published in Marine Science

#ports - The Scottish south-west Port of Ayr, operated by Associated British Ports (ABP) has announced a £2.2m investment in a new state-of-the-art warehouse which will improve its customer offering.

Work on the new 4,000 sqm agribulk terminal according to ABP began in 2018 to support the region's growing agricultural sector. The new facility will be located on the west side of Griffin Dock at the port.

Commenting on the latest investment news, Andrew Harston, ABP Short Sea Ports Director, said: “We are proud to announce another major investment in our Scottish ports to ensure that we can continue to offer our customers the best infrastructure available to help their businesses grow.

“As the UK's leading company in our sector, we are committed to an extensive investment plan focusing on the Ports of Ayr and Troon and we would actively encourage Scottish businesses in need of first class port facilities in the West of Scotland to come and talk to us.”

The contract for building the warehouse has been awarded to a Scottish family-owned company, 3b construction, in line with ABP’s “buy local” strategy, which aims to support local businesses.

Stuart Cresswell, ABP’s Port Manager at Ayr and Troon, said: “Following other recent investments in warehousing, cranes and a new pilot boat, the development of another major agribulk terminal in Ayr is a huge vote of confidence in both our Scottish Ports and our local workforce.

“I strongly believe that the facilities we are developing at Ayr and Troon offer a beacon of hope for the many Scottish voices calling for a renaissance of maritime-related industry and shipping on the Clyde.”

Published in Ports & Shipping

#ports - A leading UK ports operator, Associated British Ports (ABP) recently announced an additional investment to boost facilities at its Port of Hull, bringing the group’s total investment to £250 million since the EU referendum in 2016.

This programme of investment demonstrates the group’s commitment to keeping Britain trading with Europe and the rest of the world after Brexit.

ABP is actively working to support businesses anxious about the event of a No-Deal Brexit and the potential severe disruption this may cause at the Port of Dover.

Container and ferry facilities at ABP on the Humber are capable of helping businesses bypass such disruption, providing regular and reliable links to Europe. Over 70 sailings every week connect the Humber to a number of destinations including Belgium, the Netherlands, Denmark and Poland.

Investment highlights include: £50 million to boost capacity at its container terminals at ABP’s ports of Hull and Immingham; £65 million to help ensure the future of the steel industry on the river Humber; £55 million to enhance the automotive and cruise offering in the Port of Southampton. In addition to a range of other investments throughout its network of 21 ports across England, Scotland and Wales.

According to ABP which has an important component role in the UK’s trading infrastructure, the group handles almost £150 billion of UK trade across its port network, contributing around £7.5 billion to the UK economy. In addition to supporting almost 120,000 jobs across its supply chains. 

Published in Ports & Shipping
Tagged under

#ShannonEstuary - This month work will begin on the first element of a major restructuring of the port of Foynes in Co Limerick.

According to RTE News, it is part of a €50m investment in transforming the port into one of the biggest bulk harbours in Europe.

Shannon Foynes Port Company will spend €12m on transforming the existing East Jetty area, and reclaiming a 3.45 acre section of the port to create a bigger foreshore area of activity and enable improved bulk discharge times.

The expansion of the port will add an additional 35,000 square metres of additional berthage and create more open quay storage at the port.

It will enable the company to accommodate larger container cargo ships, enabling ships of 40,000 tonne capacity to berth at the new port.

For more on the development of the mid-west port, click here. 

Published in Shannon Estuary

#Angling - Inland Fisheries Ireland (IFI) is looking for public feedback via an online survey on its current funding programmes, having awarded over €3.4 million to angling projects and fisheries initiatives in communities nationwide over the past five years.

Current funding channels include the Salmon Conservation Fund and the Midlands Fisheries Fund, which see IFI redistribute income gained from permits and licenses, as well as IFI’s Sponsorship Programme.

IFI is now looking to consult with previous recipients of funding alongside interested parties and potential applicants, on whether the funding programmes are meeting requirements and if there are any changes which could be made to improve them.

Sean Kyne TD, Minister of State with responsibility for the Inland fisheries sector, encouraged stakeholders to take part in the online survey.

“The programmes ensure that stakeholders are facilitated and partnered to assist in the strategic development of fisheries and angling developments,” he said, adding that “the angling sector is worth €836 million to Ireland’s economy annually, supporting upwards of 11,000 jobs.”

This month IFI will invite applications for funding for angling access improvement works. These projects should contribute to the delivery of an accessible and sustainable world class inland fisheries and sea angling resource and will form part of the National Strategy for Angling Development.

While this fund will be limited to ‘shovel ready’ projects on the river bank, further funding opportunities for more complex capital projects are likely early in 2017.

The funding survey should take less than five minutes to complete with all participants entered into a draw to win one of three €50 tackle shop vouchers. The survey is open to angling clubs, commercial fishermen, fishery promoters, community and local development groups as well as private individuals.

To find out more information about IFI’s funding programmes and to take the short funding survey, visit www.fisheriesireland.ie/fundingsurvey.

The survey will be live on the IFI website until Tuesday 8 November.

Published in Angling
Tagged under

#GALWAY HARBOUR - Galway Harbour management are looking forward to the prospect of Chinese investment in the port's redevelopment plans, the Galway Independent reports.

“Chinese investors clearly recognise not only the massive potential of ocean tourism, but also the specific potential for Galway as a destination port for cruise liners," said Fine Gael TD Brian Walsh, referring to discussions between the Government and Chinese officials in Beijing last week.

As previously reported on Afloat.ie, Galway Bay can expect to welcome at least nine cruise visits thus year, with the first scheduled to arrive late next month.

Walsh added: "Galway is an incredibly attractive city, and if we can make it accessible to the major players in the cruise-line market, the impact on the local economy would be immense.”

Galway Harbour Company CEO Eamon Bradshaw said that the port project had "illicited quite a bit of interest" when the company presented at the recent Chinese-Ireland Relations conference at NUI Galway.

"We’re confident that we do have a lot to offer and we are confident that an investor will come on board."

The Galway Independent has more on the story HERE.

Published in Galway Harbour

#NEWS UPDATE - Minister for the Marine Simon Coveney has launched a public consultation process on harnessing the potential of Ireland's vast marine resources.

Our Ocean Wealth is calling for input into how Ireland can best capitalise on the trillion-euro global market for marine products and services, from seafood and tourism to shipping, oil and gas, renewable ocean energy and marine science.

Launching the consultation, Minister Coveney said: "We need to change the way we in Ireland think about the sea and look for new opportunities to harness the potential of our 220-million-acre marine resource.

"This government is determined to generate the momentum to drive forward a new era of sustainable economic development across the maritime sectors - we must avail of these opportunities to assist in our recovery. We want your help to shape our plan, to shape our future and to assist in our drive towards our nation's economic recovery."

The consultation process is a step towards developing an Integrated Marine Plan for Ireland intended to grow the percentage of GDP generated by the country's marine resource, which covers an area 10 times the size of Ireland's land mass.

The minister added: "We need an Integrated Marine Plan to harness our ocean wealth, get the environment right for investment and use the potential of our marine economy to create jobs in a sustainable manner."

The consultation phase will be open until 31 March with an aim to publish the Integrated Marine Plan during the summer. For more details visit www.ouroceanwealth.ie.

Published in News Update
2nd February 2012

Fastnet Line Closes For Good

#FERRY NEWS - The Fastnet Line ferry service between Cork and Swansea is to close with the loss of 78 jobs.

As previously reported on Afloat.ie, the operator had been in examinership since last November, and a restructured business plan had been submitted with a view to resuming high-season service in April.

However, in a statement the owners of the Fastnet Line said they had been unable to raise the €1m-plus investment required and that the examinership had "failed".

All 78 jobs will be lost as the company is set to be placed in receivership or liquidation later today.

The Fastnet Line - which was worth around €30 million to Cork in tourist spending - made its maiden voyage from Swansea to Cork in 2010, and was the only direct passenger and freight link between Wales and the south coast of Ireland.

The Irish Times has more on the story HERE.

Published in Ferry

#BUDGET - Coastguard and lifeboat services, mountain rescue and the Commissioners of Irish Lights will not face any further funding cuts in the latest Budget, according to the Minister for Transport.

The Irish Times reports that, following the reduction of his department's budget, Minister Leo Varakdar stated that substantial cuts have already occurred in the maritime safety sector.

Moreover, he announced an increase in the maritime budget from €70.5 million to €80.3 million, due to provisions for the new Irish Coast Guard helicopter contract.

Earlier this week, Minister for Agriculture, Food and the Marine, Simon Coveney, underlined the importance of the marine sector to Ireland's coastal communities.

As previously reported on Afloat.ie, Minister Coveney announced a round of expenditure estimates on Monday which include increased funding for investment in processing, aquaculture and fishery harbours.

Published in Budget
Two students at NUI Galway have won a €15,000 investment in an enterprise competition for their website promoting surfing in Ireland.
Oisin Halpin and Cian Brassil of WestCoastSurfer.com took the top prize at the NUI Galway Student Enterprise Awards earlier this month, with judges convinced by their brand and ability to attract investment to the region, according to Silicon Republic.
“WestCoastSurfer.com has huge growth potential and is well grounded in commercial reality with great opportunities for the West of Ireland,” said chairperson of the judging panel Helen Ryan.

Two students at NUI Galway have won a €15,000 investment in an enterprise competition for their website promoting surfing in Ireland.

Oisin Halpin and Cian Brassil of WestCoastSurfer.com took the top prize at the NUI Galway Student Enterprise Awards earlier this month, with judges convinced by their brand and ability to attract investment to the region, according to Silicon Republic.

“WestCoastSurfer.com has huge growth potential and is well grounded in commercial reality with great opportunities for the West of Ireland,” said chairperson of the judging panel Helen Ryan.

Published in Surfing
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The Half Ton Class was created by the Offshore Racing Council for boats within the racing band not exceeding 22'-0". The ORC decided that the rule should "....permit the development of seaworthy offshore racing yachts...The Council will endeavour to protect the majority of the existing IOR fleet from rapid obsolescence caused by ....developments which produce increased performance without corresponding changes in ratings..."

When first introduced the IOR rule was perfectly adequate for rating boats in existence at that time. However yacht designers naturally examined the rule to seize upon any advantage they could find, the most noticeable of which has been a reduction in displacement and a return to fractional rigs.

After 1993, when the IOR Mk.III rule reached it termination due to lack of people building new boats, the rule was replaced by the CHS (Channel) Handicap system which in turn developed into the IRC system now used.

The IRC handicap system operates by a secret formula which tries to develop boats which are 'Cruising type' of relatively heavy boats with good internal accommodation. It tends to penalise boats with excessive stability or excessive sail area.

Competitions

The most significant events for the Half Ton Class has been the annual Half Ton Cup which was sailed under the IOR rules until 1993. More recently this has been replaced with the Half Ton Classics Cup. The venue of the event moved from continent to continent with over-representation on French or British ports. In later years the event is held biennially. Initially, it was proposed to hold events in Ireland, Britain and France by rotation. However, it was the Belgians who took the ball and ran with it. The Class is now managed from Belgium. 

At A Glance – Half Ton Classics Cup Winners

  • 2017 – Kinsale – Swuzzlebubble – Phil Plumtree – Farr 1977
  • 2016 – Falmouth – Swuzzlebubble – Greg Peck – Farr 1977
  • 2015 – Nieuwport – Checkmate XV – David Cullen – Humphreys 1985
  • 2014 – St Quay Portrieux – Swuzzlebubble – Peter Morton – Farr 1977
  • 2013 – Boulogne – Checkmate XV – Nigel Biggs – Humphreys 1985
  • 2011 – Cowes – Chimp – Michael Kershaw – Berret 1978
  • 2009 – Nieuwpoort – Général Tapioca – Philippe Pilate – Berret 1978
  • 2007 – Dun Laoghaire – Henri-Lloyd Harmony – Nigel Biggs – Humphreys 1980~
  • 2005 – Dinard – Gingko – Patrick Lobrichon – Mauric 1968
  • 2003 – Nieuwpoort – Général Tapioca – Philippe Pilate – Berret 1978

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