Marine Power Systems to build full-scale demonstrator device

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.

FOLLOWING A SUCCESSFUL CROWDFUNDING CAMPAIGN, MARINE POWER SYSTEMS (MPS) IS SET TO BUILD THEIR FIRST COMMERCIAL demonstrator device in Wales, UK.

Swansea-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.” 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.

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.

Gareth Stockman, Chief Executive of MPS states: “The financial backing we have received for the full-scale demonstrator device demonstrates the confidence that exists in marine energy and enables us to take the project to the next stage. Developing this in Swansea is a boost for Wales and will form part of the blue economy’s contribution to the green recovery, not only creating jobs locally but also developing knowledge skills and technology that can be exported globally.”

Jess Hooper, Programme Manager at Marine Energy Wales adds: “The progression of MPS’ quarter scale device to full scale is a demonstration of the skills and innovation flourishing here in Wales and yet another exciting development for marine energy in Wales. The speed at which MPS achieved their crowd funding target illustrates the momentum building around the sector and the potential for Wales to establish itself and the UK as a global leader for the marine energy emerging technology sector. MPS’s Swansea base and local supply chain is building home grown expertise and opening the door for Wales to keep our own renewable energy technology value locally and export the knowledge, skills and expertise globally; an export market worth an estimated EUR 83 billion by 2050.”

i. marinepowersystems.co.uk

MPS’ platform technology can be configured to deliver wave power only, wind power only or a combination of both wave and wind power.

Marine Power Systems

A WORLD LEADER IN MARINE ENERGY EXTRACTION

Marine energy is the largest source of untapped renewable energy available to the human race; the winds and waves in our oceans contain enough energy to provide the planet with all the energy it needs many times over. Current global electricity consumption is circa 24,000 Terawatt Hours (TWh) and will grow for the foreseeable future. The International Energy Agency forecasts global energy expanding by 30% between now and 2040 – equivalent to adding another China and India on top of today’s global energy demand!

MPS started out with just an idea and has progressed into one of the leading marine energy technology developers in the market. The company was co-founded in 2008 by Dr Gareth Stockman and Dr Graham Foster. Since then MPS has expanded their team with engineers, scientists and managers. Their mission is to become a world leader in the manufacturing and supply of marine energy extraction hardware by having the highest performance and most cost-effective technology available in the market.

All MPS devices utilise a common offshore platform technology that gives them a set of shared advantages ensuring class leading suitability for the demands of offshore energy production. Their platform technology can be configured to deliver wave power only (WaveSub), wind power only (WindSub) or a combination of both wave and wind power (DualSub).

High Performance The MPS devices are optimised for efficient, utility scale power generation. The wave energy harvesting technology has exceptional energy capture, with the first commercially available machines having a rated power of 4.5MW, increasing to circa 10MW of wave power as the technology is developed. Devices that utilise a third-party wind turbine can provide a stable platform for the largest and most powerful wind turbines available today and in the future. Starting at circa 10MW but likely to be over 15MW in coming years, MPS will stay at the cutting edge of wind turbine performance.

Competitive advantages MPS technology addresses the key challenges of energy generation at sea and as a result offers a low cost of energy possible for deep water ocean energy farms. This advantage is enabled by many innovations in the areas that contribute to the levelised cost of energy (LCoE).