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Marine Power Systems provides a unique, IP-protected, floating solution to harness deep water's immense wind and wave energy. On a mission to deliver clean, affordable, renewable energy globally by unlocking the power of oceans, they are targeting a market they estimate to be worth $100bn by 2035.

  • Global electricity consumption represents a £2Tr/yr market, growing rapidly
  • Award winning IP owned to all tech created with portfolio of 10 patents
  • Led by multidisciplinary team of scientists and executives
  • On track to deliver grid connected commercial demonstrator in 2022
Information £1,671,600 of funds on the progress bar represent funds raised by the Company prior to launching the campaign. The Company has already received these funds and shares have been issued to these investors. Completion of the Crowdcube raise will occur on the same material terms and share price. Please note that these funds are separate from their previous 2020 fundraising round.

Idea

Dramatic action is needed to avoid the worst impacts of the climate crisis and limit global warming; it is no longer sustainable to use fossil fuels. Governments worldwide are enforcing carbon reduction targets, such as NetZero, and are looking for alternative sources to meet global energy consumption needs.

Floating offshore energy is a large source of untapped renewable energy, with floating foundations considered a game-changer for harnessing ocean power. We estimate this global market to be worth over $100bn by 2035.

We have focused on developing three patented devices (Wind, Wave and Dual Subs) that can harness the power of wind and wave. Each device is designed to work optimally based on the environment, meaning more zero-carbon electricity is generated that is cost competitive with fixed offshore wind.

We have successfully tested our medium scaled prototype in the ocean, demonstrating ease of transportation, deployment, and showcased the devices ability to generate grid compliant electricity.

The EU has awarded us a £12.8m grant to deliver a full scale, grid connected commercial demonstrator. Our test site is secured and we are already developing two pre-commercial sites. This is planned to be the final phase of development and testing before our intention to take our devices to market in Q1 2024.

Join us on our mission to unlock the power of the oceans.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Marine Power Systems has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.