Almost 90 new jobs are being promised through the establishment of an energy research centre at the Tyndall National Institute in Cork.
The project will be supported by a Government investment of around €20m and will create 50 research jobs initially.
The Tyndall National Institute, part of University College Cork, says it has 'more than 30 years experience in turning research ideas into commercial reality'.
The Government is attempting to cash in on that expertise with an investment to establish the International Energy Research Centre at the Institute.
The money will come from the Department of Enterprise, Trade and Innovation and the Department of Communications, Energy and Natural Resources.
The centre will work with industry to develop integrated, sustainable energy systems.
The International Energy Research Centre has already attracted its first industry partner.
United Technologies Corporation, one of the biggest manufacturers in the US, is to establish its European research base at the centre in an investment worth €15m.
United Technologies supplies high-tech products and services to the aerospace and building industries.
It already employs 200,000 people worldwide and says it will employ 37 people at its research centre in Cork. Most of these will hold PhD or advanced degree qualifications.