The world is transitioning to a low carbon future in which clean, affordable, renewable electricity powers our daily lives. Global electricity consumption represents a £2+ trillion annual global market, which is growing year on year.
The ocean’s waves and offshore winds are an immense source of renewable power that will become a vital part of the world’s low carbon future, generating low cost electricity for communities, towns and cities across the globe.
The global offshore wind & wave energy resource can only be described as vast, with the potential, even if only partially exploited, to significantly reduce dependency on fossil fuels and carbon emissions.
MPS’s vision is to exploit these marine energy resources, to take the WaveSub, WindSub and DualSub to a commercial market and become one of the world’s leading manufacturers of renewable energy devices.
POTENTIAL TO CHANGE THE WORLD
Marine energy is the largest source of untapped renewable energy available to the human race; the winds and waves in our oceans contain enough energy to provide the planet with all the energy it needs many times over. Please see below for the global practically exploitable resource for wave, wind and combined wind & wave:
Current global electricity consumption is circa 24,000 TeraWatt Hours (TWh) and will grow for the foreseeable future. The International Energy Agency forecasts global energy expanding by 30% between now and 2040 – equivalent to adding another China and India on top of today’s global energy demand! Worldwide electricity by resource for 2017 can be seen below:
Marine Power Systems in on course to be the world leader in the capture of offshore wind and wave energy and make this opportunity become reality.