Marine Power Systems (MPS), has recently been awarded about US$245,000 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 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 project will allow the Swansea-based company to assess the feasibility of a next-generation WaveSub device that will produce several MW. The project will also enable MPS to determine further reductions in levelized cost of energy (LCOE), which are achievable through reduced capital and maintenance costs per MW.
Assessments will be made from computational simulation, tank testing and LCOE modelling. The results will be directly utilized in the design of the full-scale WaveSub device.
MPS is currently engaged in its quarter-scale scale WaveSub prototype project, which has in part been funded by the European Regional Development Fund through the Welsh government, with MPS receiving a $2.45 million grant in October 2015.
Innovate UK works with people, companies and partner organizations to find and drive the science and technology innovations that will grow the UK economy. It aims to help stimulate and support innovation through funding, taking projects from concept to commercial readiness and brings the best ideas, processes, products and skills to the UK energy supply chain.