Marine Power Systems has won £2 million (US$3 million) of funding from the Welsh government for a pioneering technology that harnesses energy from ocean waves.
MPS’ £3 million project will manufacture and test a 1:4 scale prototype of the WaveSub device. MPS will invest £900,000 into the project. The device draws upon patented technology developed by MPS which captures the high power density of waves through its unique power take-off system, and can withstand storm forces.
The Welsh Government has been working with MPS for a number of years to support the development of this technology and the WaveSub concept. The £2 million EU funds will allow the scaled prototype to be developed and tested, paving the way for a full-scale device that will be deployed off the Pembrokeshire coast and eventually launched in the commercial market.