James Chiu

Aquanet Power

It is Aquanet's intention to demonstrate the commercial viability of its exclusive patented wave energy conversion technology to produce clean sustainable energy at a price that is lower than other forms of renewable energy with the next full scale device deployment before end of 2019. Follow on array projects of 10MW will see the cost range on a levelised cost of energy (LCoE) basis, to be competitive with other forms of matured renewable energy and traditional fossil fuel energy, within the next 5-7 years. Our intention is to license the technology as a technology provider and supply an easily adaptable power take-off (PTO) system & equipment to deliver at parity, low cost wave energy generation to anywhere in the World. Our 3 product variants of OWCs have the same PTO system. With a proven PTO system, the devices can be deployed at shallow or deep waters, produce desalinated water (at very low cost), be integrated with sea wall defence/ breakwater walls, or be attached to offshore platforms such as oil & gas rigs and FPSO ships. They can also be integrated with offshore wind turbines to create a very cost-effective hybrid power plant. The company is keen to forge the right strategic partnerships to take advantage of the technology's versatile applications and expand its focus to harness more revenue streams.