Marine energy projects in Ireland have been granted funding totalling €4.3 million (£3.4m).
The Sustainable Energy Authority of Ireland (SEAI) is providing the cash to 15 new projects under its Prototype Development Fund.
Among the winners are developers including Blue Power Energy, Frontier Engineering Group and Sea Energies.
Declan Meally, Head of Emerging Sectors at SEAI said: “With a sea area 10 times our land mass, this market has the potential to be worth €15 billion (£11.8bn) to Ireland’s economy by 2050.
“To facilitate the development of the sector we’re very keen to explore all collaborative opportunities where Ireland can offer its strengths in areas like test facilities, technology supports, supply chain availability and grid infrastructure.”
THE SEAI has provided funding worth €12 million (£9.5m) for 68 technology projects in the last seven years.
It also found the Irish public sector saved €120 million (£93.6m) as a result of energy efficiency measures.