Marine Power Systems (MPS), a Swansea-based company that is developing wave energy technology, presented an update of its developments at the 6th Annual Marine Energy Pembrokeshire (MEP) Industry Seminar held on Thursday, March 19.
MPS provided the audience an update of its plans to manufacture and deploy its quarter-scale WaveSub Wave Energy Converter this year from Pembrokeshire port.
Dr Gareth Stockman, Managing Director of MPS, said:
âOur Sea State Tuning technology is an important innovation in the renewable energy field and MPS is proud to be developing this unique product in Wales. We hope that the WaveSub will really help to put Wales on the map in terms of wave energy.â
The MEP presentation took place the day after Chancellor George Osbourne also announced the governmentâs support and willingness to open negotiations around the development of Swansea Bayâs Tidal Lagoon.
Commenting on this development, Dr Gareth Stockman, Managing Director of MPS, said:
âThe Tidal Lagoon is a great initiative and weâre very pleased that it is closer to getting the go-ahead. In order to achieve the 2020, and longer term renewable energy targets for Wales and the UK â such as installed capacity, security of supply and reduction in carbon emissions â itâs essential that we exploit all resources such as wind, tidal and wave. The Tidal Lagoon project and the work that we are doing here at MPS is really putting Wales on the map as a marine renewable energy hub.â
Carl Sargeant AM and Minister for Natural Resources, provided the keynote address at the event, which was organised as a platform to provide an update on sector developments, to discuss key challenges and opportunities and to encourage collaboration and business networking.
MPS was co-founded by Swansea University graduates Dr Gareth Stockman and Dr Graham Foster in 2009 with the purpose of developing and commercializing its innovative WaveSub Wave Energy Converter technology.
The company has now raised more than Â£1.5 million from a panel of local business angels and the Welsh Government.