The collaboration brings together Carnegie’s UK subsidiary, CWE UK, with Bosch Rexroth, Irish utility ESB, Aquamarine Power, Albatern and Manchester University spin-off M4M. ESB is also developing the European-funded Westwave wave project off the west coast of Ireland.

The WavePOD (Wave Power Offtake Device) aims to provide a commercial solution for the common need to create a standardised, self-contained offshore electricity generator for the wave industry to transform linear motion into electrical energy. It comprises a hydraulically driven generator system housed in a watertight enclosure which generates electrical power which is then cabled back to shore.

Carnegie chief technology officer Jonathan Fiévez said: "The WavePOD project provides a promising opportunity for the development of a more cost effective and reliable power production system supported by a leading European equipment manufacture in Bosch Rexroth. As with our collaboration with tidal technology developer, Atlantis Resources, Carnegie is a supporter of deeper cooperation between developers and equipment manufacturers."

Commenting on the project, Bosch Rexroth ocean technology specialist Louis Verdegem, said: "Creating a way of converting kinetic energy into electricity is essential if we are to effectively harness the power of waves. Through this collaboration we expect the use of standardised components and system architectures to accelerate learning and propel the industry forward. By taking this new approach we’re hoping to provide a solution not just for individual developers, but for the wave energy industry as a whole. Not only will this make the most efficient use of public and private finance, but also help to accelerate the sector to economic maturity as quickly as possible and reduce the cost and risk to the individual device developer."

The pan-industry initiative has been welcomed by trade body Ocean Energy Europe. Their Chief Executive Officer Dr Sian George said: "If Europe is to turn its advantage in ocean energy technologies into a new industrial sector, collaboration will be key. The WavePOD project provides a vehicle for ocean energy developers from all over Europe to work together and tackle problems in an efficient and cost effective way."