Editing Marine Power Systems

==Summary==

Marine Power Systems provides a unique, IP-protected, floating solution to harness deep water's immense wind and wave energy. On a mission to deliver clean, affordable, renewable energy globally by unlocking the power of oceans, they are targeting a market they estimate to be worth $100bn by 2035.

* Global electricity consumption represents a £2Tr/yr market, growing rapidly
* Award winning IP owned to all tech created with portfolio of 10 patents
* Led by multidisciplinary team of scientists and executives
* On track to deliver grid connected commercial demonstrator in 2022

==Idea==

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Dramatic action is needed to avoid the worst impacts of the climate crisis and limit global warming; it is no longer sustainable to use fossil fuels. Governments worldwide are enforcing carbon reduction targets, such as NetZero, and are looking for alternative sources to meet global energy consumption needs.

Floating offshore energy is a large source of untapped renewable energy, with floating foundations considered a game-changer for harnessing ocean power. We estimate this global market to be worth over $100bn by 2035.

We have focused on developing three patented devices (Wind, Wave and Dual Subs) that can harness the power of wind and wave. Each device is designed to work optimally based on the environment, meaning more zero-carbon electricity is generated that is cost competitive with fixed offshore wind.

We have successfully tested our medium scaled prototype in the ocean, demonstrating ease of transportation, deployment, and showcased the devices ability to generate grid compliant electricity.

The EU has awarded us a £12.8m grant to deliver a full scale, grid connected commercial demonstrator. Our test site is secured and we are already developing two pre-commercial sites. This is planned to be the final phase of development and testing before our intention to take our devices to market in Q1 2024.

Join us on our mission to unlock the power of the oceans.

==Team==

'''Dr Gareth Stockman – Co-founder & CEO'''

Has a PhD from Swansea University & over 13 years’ experience in marine renewables. Achieved significant grant funding whilst spearheading the company’s vision.

'''Dr Graham Foster – Co-founder & CTO'''

Has a PhD from Swansea University and over 20 years' industrial experience in R&D. Creates elegant solutions to complex problems, producing innovative IP.

'''Dr Martin Carruth – Commercial Director'''

Extensive energy experience in industrial technology & engineering consultancy, previously with General Electrics. Has a track record of applying innovation to deliver business growth in offshore energy.

'''Dr John Chapman – Chief Engineer'''

Has a PhD in marine energy hydrodynamics & was part of Swansea University’s Marine Energy Research Group. Has overall responsibility for technical development.

'''William Willdridge – Financial Controller'''

Has a breadth of financial control experience, including at PWC & Opel Vauxhall Finance.

'''Thomas Kahan – Finance NED'''

Chartered Accountant (Deloitte) with experience of global high growth technology ventures (Orbotech & Creo Medical); helping to manage M&A activities & funding requirements of AIM listed companies.

'''Sue Barr – Business Development NED'''

Has over 20 years' experience in the marine energy sector. Chair of the Marine Energy Council; has extensive expertise across government policy (Defra), revenue support & market intel.
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-== Summary ==
+==Summary==
 Marine Power Systems provides a unique, IP-protected, floating solution to harness deep water's immense wind and wave energy. On a mission to deliver clean, affordable, renewable energy globally by unlocking the power of oceans, they are targeting a market they estimate to be worth $100bn by 2035.
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 ==Idea==
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+<iframe width="560" height="315" src="https://player.vimeo.com/video/562817103?h=e24f9f8585" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
+</html>
 Dramatic action is needed to avoid the worst impacts of the climate crisis and limit global warming; it is no longer sustainable to use fossil fuels. Governments worldwide are enforcing carbon reduction targets, such as NetZero, and are looking for alternative sources to meet global energy consumption needs.
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 Has over 20 years' experience in the marine energy sector. Chair of the Marine Energy Council; has extensive expertise across government policy (Defra), revenue support & market intel.
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