Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

As Minister for Jobs, Enterprise and Innovation, I regret any job losses. It is an unfortunate reality that businesses can find themselves in difficulty for a wide range of reasons. The company in question was an ocean energy research project in the pre-commercialisation stage of development. The Deputy will be aware that policy responsibility for energy research falls within the remit of the Department of Communications, Energy and Natural Resources.

The ocean energy development unit established in the Sustainable Energy Authority of Ireland in 2009 is charged with co-ordinating the relevant activities of State agencies and initiating other measures to promote and develop this sector.

Companies in the early stage development of ocean wave energy projects are assisted by the SEAI. Where appropriate, Enterprise Ireland works with its colleagues in the SEAI to assist companies in the commercialisation of a validated technology. In such cases, Enterprise Ireland's role is to assist the promoters to develop their business proposition, including their funding strategy, and make introductions to Irish and international seed and venture capital funders.

I understand from the Department of Communications, Energy and Natural Resources that the SEAI was liaising directly with the company prior to its closure. I also understand Enterprise Ireland made itself available to meet the company to discuss ways in which it could be of assistance. Unfortunately, it was not possible to prevent the closure of the company.

Notwithstanding the unfortunate closure in this case, ocean energy research remains a priority area for the Government. This is reflected in the Action Plan for Jobs 2013 under which the Department of Communications, Energy and Natural Resources has committed to finalising the offshore renewable energy development plan and related strategic environmental assessment and natural impact assessment. This will provide a clear framework for marine renewable energy project development.

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