Wave energy company awarded £200,000

Published:  20 October, 2016

MPS.pngMarine Power Systems (MPS), a company developing revolutionary technology designed to capture the energy from ocean waves, has announced it has recently been awarded £200,000 of energy catalyst funding from Innovate UK, the UK's innovation agency.

The funding has been awarded for a 12 month project, which formally began this month (October 2016) to deliver the modelling, design, build, test and validation of MPS' next-generation WaveSub wave energy converter (WEC). The project will run in partnership with the University of Bath, which is home to experts in power-take-off modelling and design.

The Swansea-based company says the project will allow it to assess the feasibility of a next-generation WaveSub device with the aim of multi-megawatt output. The project will also enable MPS to determine further reductions in levelised cost of energy (LCOE), which are achievable through reduced capital and maintenance costs per megawatt.

Marine Power Systems         www.marinepowersystems.co.uk

Innovate UK                      www.gov.uk/innovateuk

Click here for the full unedited version of the release as provided by the company

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