OUR STORY SO FAR

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
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
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
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
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
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
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.

First commercial contracts
First commercial contracts

MPS becomes revenue generating. Major energy developers around the world commission MPS to undertake engineering studies for them with a view to using our technology in upcoming energy development projects.