The Irish Seaweed Centre, in Galway, has claimed a "frenzy of interest" is emerging for the aquatic plant over its energy production potential.
Energy Minister Eamon Ryan has said he does not expect there to "be a Klondyke or Clontibret style gold rush down to the beaches", however, "serious people in the energy world are now saying seaweed biofuels are a real runner."
Ireland is lagging behind the rest of Europe in the cultivation of biofuels, an issue raised at the recent Energy Ireland conference.
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Many have suggest that Ireland, which has marketed itself as the "garden of Europe", may now have to import the majority of its biofuels from other parts of the world.
Great focus has previously been placed on wind and wave power, which is being cultivated across the country.
But Green Party Minister Mr Ryan has said: "Ireland will certainly be at a serious advantage if someone does crack the seaweed conundrum. The one thing we do have after all is a lot of ocean out there."
Scientists at the Irish Seaweed Centre share the minister's optimism surrounding the future of seaweed and algae energy supply.
Currently biofuels are sourced from sugar cane and corn but scientific research has hinted that these could be replaced by 'second generation' brown seaweed.
At a recent Galway conference, titled Algae and Biofuels: Quo Vadis, Professor Michael A Borowitzka of the Murdoch University in Australia said "compared to other bio-energy crops such as rapeseed, canola, peanut and oil palm, a number of species of algae have higher oil content and can grow in saline waters''.
At the conference Dr Stefan Kraan, of the Irish Seaweed Centre, said the use of algae would have the additional benefit of not having the negative image "of terrestrial biomass resources".
(PR/JM)
