The company, co-founded by Swansea University graduates Dr Gareth Stockman and Dr Graham Foster in 2009, will use the funds to design, manufacture and test a purpose-built quarter scale model prototype of the WaveSub, the wave energy converter developed by the company. These trials are scheduled to begin in 2015. On completion of these trials,[…]
Monthly Archives: July 2014
The company will use the cash to design, manufacture and test a purpose-built quarter scale model prototype of the WaveSub, a wave energy converter. It is hoped trials will begin next year. The private investors, all based in the Swansea area, made the investment under the Enterprise Investment Scheme (EIS). The money from the Welsh[…]
Marine Power Systems (MPS) has been awarded £359,000 SMARTCymru research, development and innovation funding to design a quarter-sized scale model of wave-energy converter WaveSub. The funding and expansion of the project is set to create eight jobs. Dr Gareth Stockman, managing director at Marine Power Systems, said: “We have carried out considerable research and development over[…]