A wave energy company intends to expand its market share by developing a new, smaller version of its underwater turbine technology.
Minesto says a smaller version of its Deep Green device, called the DG100, would allow the company to enter new markets and engage in larger business opportunities, including those in Asia.
The smaller DG100 unit is expected to have a rated power of up to 100kW and a five-metre wingspan.
The firm’s preparations in Wales for the offshore testing of its first commercial-scale Deep Green device is now in its final phase.
Installation is due to commence in April 2018, with the aim to generate electricity during the third quarter of 2018.
Minesto says its ‘sea kite’ technology can be cost competitive with fossil energy, solar and wind power.
It estimates the exploitable potential of the company’s product exceeds 600GW installed capacity, one and a half times more than the volume of current global nuclear capacity and adds there is significant customer demand for smaller-scale, autonomously operated wave energy systems.