Marine Power Systems
Our mission is to be a world leader in the manufacturing and supply of marine energy extraction hardware.
- Global sales market forecast a £multi-billion industry by 2030
- Unique tech portfolio: solution to harness ocean energy
- £17m+ grant secured as a result of detailed 3rd party diligence
- Proceeds to deliver commercial demonstration of the technology
The world is transitioning to a low carbon future in which clean, affordable, renewable electricity powers our lives. We estimate global electricity consumption represents a £2 trillion annual market that is growing rapidly.
The ocean’s waves & offshore winds are an immense source of power that will become a vital part of the world’s low carbon future, generating low cost renewable electricity for towns and cities globally.
MPS has developed a revolutionary, flexible technology that can be configured to harness wind power, wave power or combined wind & wave energy at grid scale. This approach is unique globally, and patented by MPS - watch the video below.
This capability to harness any combination of wave or wind energy enables MPS to deliver the energy generation solution that best fits the ocean resource our customers wish to exploit. Maximum energy extraction will be delivered from a given area of ocean whilst ensuring that our customers benefit from the lowest possible cost of energy & ownership.
The commercial opportunity is from device sales to developers, who will supply the power generated to electricity grids. The global resource is vast and will require hundreds of thousands of devices to be installed over decades to exploit (by which time first devices installed will need upgrading!). We believe that MPS has the opportunity, even as one of a number of companies, to grow into a multi-billion pound annual turnover company.
MPS’s strategy is very similar to that of wind turbine manufacturers. This is a proven model with many successful examples: all market leaders are $multi-billion turnover companies. (Case study: Vestas, market leader, turnover of €10Bn/yr).
Global decarbonisation and ever-increasing energy requirements are creating a huge & accelerating demand. Oceans can provide this energy and MPS’ unique, lower cost tech is perfectly placed to deliver. MPS is confident that its current position as a tech leader will successfully translate into significant global hardware sales in coming years.