Utility and Large Power
Utility Grid Power –
The Oceans have the potential to supply about 10% of the Worlds Electricity needs, For the United States alone it has the potential to produce 15% of its electricity needs – valued at $50 B per annum. OceanEnergy’s technology could be deployed in arrays of 200MW or more to operate as a sustainably fuelled power plant.
Oil & Gas –
The Oil and Gas Market operates large power demand equipment. Energy derived from the Ocean is seen and an ideal fit for these applications – OceanEnergy’s technology can deliver the large capacity power required for these applications.
Large-scale isolated power system markets –
Locations such as the Hawaiian Islands, the U.S. Virgin Islands, Puerto Rico, and Pacific Island territories represent potential markets. There are eight utilities with more than 5 MW of load in Hawaii and U.S. island territories, such as Guam and the U.S. Virgin Islands, that rely on expensive imported fuel to make most or all their electricity (Hawaii State Energy Office 2016).