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.
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 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.