InnovateUK backs Welsh wave bet
Marine Power Systems secures £200,000 funding for next-gen converter
Welsh wave developer Marine Power Systems has bagged £200,000 funding from InnovateUK to build a next-generation WaveSub device.
The funding is for a 12-month project, starting this month, for the modelling, design, build, test and validation of the WaveSub wave energy converter.
The project will run in partnership with the University of Bath, one of the leading UK centres of power take-off modelling and design.
The project will allow the Swansea-based company 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, which are achievable through reduced capital and maintenance costs per megawatt.
Assessments will be made from computational simulation, tank testing and LCOE modelling. The results will be directly utilised in the design of the full scale WaveSub device.
MPS is currently engaged in its 1:4 scale WaveSub prototype project, which has been part-funded by the European Regional Development Fund through the Welsh government, with MPS receiving a £2m grant in October 2015.
Director Gareth Stockman said: "The next-generation device will unlock long-term levelised cost of energy wave-to-wire efficiencies, to allow WaveSub to compete with conventional energy generation without subsidies, when fully commercialised."
Image: WaveSub test site in Falmouth (MPS)