Twice world record holder, yachtsman Alex Thomson (British), told delegates attending the 2014 IMERC Innovator of the Year Award, that Cork has the potential to be a global yacht racing hub due to its “perfect harbour allowing protection and natural depth, as well as access to the Atlantic.”

The award, sponsored by Enterprise Ireland and EY, was presented by Minister Simon Coveney to start-up company Jospa, which has developed Adjustable Break Fin technology that may double the output from wave energy devices at marginal extra cost.

IMERC Innovation-awards

Minister Simon Coveney, Alex Thomson and Stewart Hosford (Alex Thomson Racing) at the IMERC 2014 Innovation Awards

“Like all great innovations, the Jospa innovation is very simple but has the potential to have a profound impact on the wave energy sector. I will certainly keep an eye on how they progress,” remarked Ian Venner, EY.

Joss Fitzsimons, Jospa, said the IMERC award was important as an acknowledgment of “attainment through careful progress. Good planning and engineering make it possible to approach success in wave energy without spending astronomic amounts. Based on a still-modest valuation, Jospa seeks investors of quite small amounts,” he remarked.