750k investment in renewable energy

MaRei, Ireland’s marine and renewable energy centre, has received €750,000 for research and development into renewable energy sources.

The money, the largest sum ever received by the company, was provided by the NTR Foundation, a philanthropic organisation founded by NTR, a renewable energy investment business. The money will look at low carbon options for Ireland and also help find commercial opportunities for Irish SMEs.

Mark Ferguson, Science Foundation Ireland’s (SFI) director general, said: “This is the largest single investment from the private sector to date in MaRei, which is an SFI research centre undertaking cutting-edge research in marine and renewable energy. Collaborations between academia and industry help to drive discovery from the lab to marketplace… this collaborative research will address the significant challenges in renewable energy.“

The MaRei research and development facility is located in Ringaskiddy, County Cork and has almost 150 researchers. The money will be invested in a three year project.

Professor Ó Gallachóir, MaRei principal investigator, said: “This strategic investment in our research is critical to extending these opportunities beyond electricity to explore the entire energy system. Integrated energy systems modelling allows all dimensions of the problem to be analysed together, enabling us to unlock the opportunities associated with the complete transition to a low carbon economy.”