Tech sector gives Irish marine industry ‘unique potential’, ocean summit will hear

The Irish marine industry is confident on its future growth and believes offshore technology offers a clear opportunity to further develop wind energy, according to a survey of the industry by PwC.

The accountancy giant conducted a study alongside the Irish Marine Institute ahead of the Our Ocean Wealth Summit taking place in Cork today.

Marine energy, which includes both offshore wind and ocean energy, is by far the most commonly cited opportunity for the maritime industry, the survey of about 70 attendees found. This placed it ahead of marine tourism and leisure, sea-fisheries and processing, marine biotechnology and shipping and maritime transport.

"As an economy that is home to many of the world's largest technology companies and tech start-ups, one clear area of unique potential for Ireland is the further development of new technologies in the offshore wind energy areas," said PwC partner Declan McDonald.

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The industry’s role in helping meet future energy needs sustainably is expected to be highlighted at the Cork conference.

“Our oceans, like the rest of the planet, are facing significant challenges from human activity in terms of pollution, over fishing and destruction of marine ecosystems. Economic development has to be sustainable and sympathetic to the delicate balance of natural ocean resources,” Mr McDonald said.

The industry is seeking new tax incentives for early stage investment in marine activities, as well as a greater Government commitment to long-term offshore projects through public-private partnerships (PPPs) and other means.