RENEWABLE ENERGY
MPS has developed a revolutionary, flexible technology that can be configured to harness wind power, wave power or combined wind and wave energy at grid scale.
Marine Power Systems to build full-scale demonstrator device FOLLOWING A SUCCESSFUL CROWDFUNDING CAMPAIGN, MARINE POWER SYSTEMS (MPS) IS SET TO BUILD THEIR FIRST COMMERCIAL demonstrator device in Wales, UK.
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wansea-based MPS reached a EUR 1.6 million crowdfunding target in just two weeks after launching and then moved into overfunding, passing the EUR 2 million mark. They have also successfully obtained support from Welsch European Funding Office (WEFO) last year with EUR 14 million of EU funding. Lesley Griffiths, the Welsh Minister for Environment, Energy and Rural Affairs, says: “I am very pleased to note that MPS were successful in achieving the funding sought via a crowdfunding platform, and that this funding will continue to support their work on the full scale demonstrator device. Companies such as MPS are working at the forefront of Wales’ response to the climate emergency, and it is always pleasing to see such companies explore new ways of bringing these projects forward in Wales.”
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Revolutionary technology
The world is transitioning to a low carbon future in which clean, affordable, renewable electricity powers our daily lives. Global electricity consumption is a EUR 2+ trillion annual global market, which is growing year on year. The ocean’s waves and offshore winds are an immense source of renewable power that will become a vital part of the world’s decarbonisation efforts. There is enough energy in the oceans to power the entire planet, yet currently this vast resource has hardly been tapped. MPS has developed a revolutionary, flexible technology that can be configured to harness wind power, wave power or combined wind and wave energy at grid scale. This approach is unique globally and has been patented by MPS.
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