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PRESS RELEASE

WAVEBOB LTD LEADS 8.5M EU WAVE ENERGY PROJECT

Irish wave energy technology company Wavebob Ltd. announced today that the EU FP7 R&D programme is to provide grant aid of 5.1 million to a consortium led by Wavebob Ltd, in order to deploy a full-scale pre-commercial, grid-connected wave energy converter (WEC) off the coast of Portugal. The 6-company consortium will invest a further 3.4 million, bringing total funding for the project to over 8.5 million.

Working under the project name STANDPOINT, the 6-company consortium aims to demonstrate that the Wavebob device is the most suitable technology to be adopted as the internationally standardized method of harvesting energy from the ocean waves.

The 6 companies working on the project are from 5 EU member states; Wavebob Ltd, (Ireland), Vattenfall (Sweden), Generg Novos Desenvolvimentos (Portugal), Germanischer Lloyd (Germany), Hydac (Germany ) and Wedge Global (Spain). The project, which commenced on 16th November 2009, will be co-coordinated by Wavebob Ltd., and it will run for a period of three years.

Throughout the world, various wave energy devices are being tested, using a wide range of very diverse technologies, but a standardized approach to producing energy from the ocean waves has not yet emerged. The STANDPOINT consortium believes that large-scal commercial wave farms will be developed much sooner if a best practice approach is adopted internationally. This project is an exciting step in the development of wave energy technology. In developing viable wave farms it will also have a major impact on reducing carbon emissions worldwide. Furthermore, it is a strong validation of our technology and our approach of working with world-class partners

Andrew Parish, CEO Wavebob Ltd.

Wavebob has been developing its technology over a ten-year period and has been conducting sea trials since 2006. In 2007, Wavebob first produced electricity from the ocean at the Irish Government test site off the west coast of Ireland. Testing of the pre-commercial, grid-connected, Wavebob device is expected to begin off the coast of Portugal at the end of 2011.

Commenting on Wavebobs success, Dr. Imelda Lambkin, National Director for FP7 in Enterprise Ireland said this is a fantastic result for an Irish SME to secure such significant support from the European Union. There is stiff competition from across Europe for FP7 funding and the fact that an Irish company won such a significant amount and will also coordinate this research project proves that Irish R&D is highly regarded internationally.

About Wavebob Ltd.

Wavebob Ltd is an indigenous Irish technology firm, founded in 1999, headquartered in Ireland holding international patents for wave energy conversion technology.

About FP7.

The Framework Programmes for Research and Technological Development are the European Union's main instruments for supporting collaborative research, development and innovations in science, engineering and technology. Launched in 1984, the Framework Programmes are open to EU public and private entities of all sizes and incorporate provision for the participation of non-EU countries.

HERE IS WHAT WE NEED:

Corporate logo for the Standpoint consortium, described in the press release above, for general use by the project. The logo should be representative of the aims of the project; i.e. wave energy demonstrator, best practise, collaborative research, European, etc. and should not clash with the Wavebob Ltd. logo. Logos of all partners provided below for reference.

We're looking for a logo with simple, clean lines, reflecting a strong corporate identity. The technology being used in this project is a world leader. We're talking cutting edge science/engineering, with the potential to have an enormous impact on the global energy production market. The fact that this is 'blue energy' (i.e. wave energy) has obvious implications for climate change. First and foremost though, this needs to be a corporate logo which presents a strong, umcomplicated image of the consortium.

OUR TARGET AUDIENCE IS:

Our target audience; wave energy development sector, energy production sector, environmental/business journalists, EU administration, general public.

WE LIKE THESE DESIGNS:

Simple, clean lines such as

www.wavebob.com

www.tonnenergy.ie

WE ABSOLUTELY MUST HAVE THIS IN OUR DESIGN:

The word 'Standpoint'

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