Irish companies Mindseed and OceanEnergy secured an ESA contract to investigate the use of space technology in renewable ocean energy.

Two Irish companies have partnered to assess the potential of satellite-based services for use in the renewable marine energy industry.

Mindseed, a Dublin-based ICT consultancy that specialises in space-related technologies, teamed up with wave technology specialist OceanEnergy to win a contract under the European Space Agency (ESA) Marine Energy tender.

The consortium was chosen by the ESA in collaboration with the Dutch Marine Energy Centre.

The global market for marine energy is estimated to be worth more than €100bn by 2050, as demand rises for renewable energy sources to reduce carbon emissions and address the climate crisis.

According to the ESA tender, it is estimated that 100GW of wave and tidal energy capacity could be deployed in Europe by 2050, meeting 10pc of Europe’s current electricity needs. This could power the daily electricity demands of 76m households.

“With over 50pc of all marine energy companies based in Europe, and as much as 10pc located here in Ireland, we are very well positioned to establish Ireland and Europe as global industry leaders in the marine energy sector, and seize export opportunities in the global market,” said Dr Patricia Moore, CTO at Mindseed.

Irish companies Mindseed and OceanEnergy secured an ESA contract to investigate the use of space technology in renewable ocean energy.

Two Irish companies have partnered to assess the potential of satellite-based services for use in the renewable marine energy industry.

Mindseed, a Dublin-based ICT consultancy that specialises in space-related technologies, teamed up with wave technology specialist OceanEnergy to win a contract under the European Space Agency (ESA) Marine Energy tender.

The consortium was chosen by the ESA in collaboration with the Dutch Marine Energy Centre.

The global market for marine energy is estimated to be worth more than €100bn by 2050, as demand rises for renewable energy sources to reduce carbon emissions and address the climate crisis.

According to the ESA tender, it is estimated that 100GW of wave and tidal energy capacity could be deployed in Europe by 2050, meeting 10pc of Europe’s current electricity needs. This could power the daily electricity demands of 76m households.

“With over 50pc of all marine energy companies based in Europe, and as much as 10pc located here in Ireland, we are very well positioned to establish Ireland and Europe as global industry leaders in the marine energy sector, and seize export opportunities in the global market,” said Dr Patricia Moore, CTO at Mindseed.

Reporting: Silicon Republic