Following a successful crowdfunding campaign and obtaining funding from WEFO, MPS is set to build their first commercial demonstrator device in Wales.
Swansea-based Marine Power Systems (MPS) reached a £1.5m crowdfunding target in just two weeks after launching and then moved into overfunding, now at over £2m. They have also successfully obtained support from WEFO with £12.8m of EU funding which has been supporting them with this phase since being awarded last year.
MPS has developed a revolutionary, flexible technology that can be configured to harness wind power, wave power or combined wind and wave energy at grid scale. This approach is unique globally and has been patented by MPS.