MPS releases the latest generation of its technology. The structurally efficient PelaFlex floating platform and the market leading PelaGen wave energy convertor.
Equity funding of £4.5m to support delivery of grid connected commercial demonstrator and pipeline growth of early commercial farms. BiMEP site in Spain (Basque Country) secured for the deployment of demonstrator. Awarded £3.5m UK Government FLOW grant.
Awarded £12.8m European Regional Development Funds by the Welsh Government. Equity funding of £2.3m to commence the commercial scale demonstrator.
Medium scale prototype testing completed demonstrating the fundamental USP’s over a 12-month period. Ongoing device optimization. IP portfolio expanded to protect unique technology.
Medium scale prototype deployed to demonstrate the fundamental USP’s of the platform; inherent ease of transportation, deployment and maintenance, remote control monitoring & communication systems and the generation of grid compliant electricity. Team growth continued.
MPS developed detailed design specification for medium scale prototype. Raised £5.5m for next phase – £3.5m grant from European Regional Development Funds (ERDF) and £2m equity investment.
Successive sea trials, computational simulation, tank testing over 6-year period proved concept and key USPs. Achieved through team expansion and grant / private investment.