SWANSEA-BASED Marine Power Systems (MPS) has expanded its intellectual property (IP) to ensure its cutting edge innovations are protected around the world.
MPS was co-founded by Swansea University graduates Dr Gareth Stockman and Dr Graham Foster in 2009.
The IP applies to Sea State Tuning, a revolutionary system that ensures that the WaveSub wave energy converter – MPS’s primary technology – can continuously operate at its optimum performance, adapting to the conditions in the ocean and changing its configuration as necessary.
It already has significant IP protection in place around its technology but it has now expanded this coverage to additional major territories around the world. In addition to an injection of money from the Welsh Government in the form of £359,000 grant from Smart Cymru for research, development and innovation funding; MPS has recently been awarded an Innovation Voucher to support upcoming IP costs at a 50 per cent match funding rate.
Dr Gareth Stockman, managing director at Marine Power Systems, said:
“Our 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 WaveSub will really put Wales on the map in terms of wave energy.
“The jobs that this project will provide aren’t just a short term solution; MPS will, and have, taken on people that are becoming experts in the field.”
Original Article by South Wales Evening Post