OUR STORY SO FAR

2008
May, 2008

MPS Founded. First Patents Filed

MPS Founded. First Patents Filed
Successive sea trials, computational simulation, tank testing over 6-year period proved concept and key USPs. Achieved through team expansion and grant / private investment.
2014
Jun, 2014

Prototyping and Funding

Prototyping and Funding

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.

2017
Aug, 2017

Medium scale prototype deployed

Medium scale prototype deployed

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.

2019
Sep, 2019

Testing at Medium-scale Completed

Testing at Medium-scale Completed

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.

2020
Jun, 2020

More Funding Secured

More Funding Secured

Awarded £12.8m European Regional Development Funds by the Welsh Government.

Equity funding of £2.3m to commence the commercial scale demonstrator.

2021
Dec, 2021

MPS on track to deliver first projects

MPS on track to deliver first projects

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.

2022
Mar, 2022

Latest generation technology

Latest generation technology

MPS releases the latest generation of its technology. The structurally efficient PelaFlex floating platform and the market leading PelaGen wave energy convertor.