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WaveSub – Wave Only

MPS technology – modular system

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DualSub – Wind & Wave WindSub – Wind Only

- System approach to extracting marine energy in deep water with a floating solution.

- Common technology approach: structure, moorings, grid connection, control etc.

- Common O&M approach: transportation, installation, maintenance all with no specialist vessels needed.

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MPS Vision: Unlocking the Power of the Oceans

- Technology system for extracting the maximum ocean energy from an area of seabed

- WaveSub (wave energy), WindSub (wind energy), DualSub (combined wind and wave)

- Arrangement of devices optimises return on investment

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Activity to date…

- WaveSub has been tested at sea at pre-commercial scale. The USPs of the WaveSub have been successfully demonstrated

- WaveSub testing is backed up with sophisticated computational simulation and wave tank testing

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1:4 Scale WaveSub: Made in Wales; over 85 Supply Chain Companies

Power Take Off (PTO) Float

Rope Guiding System

Reactor Structure / Assembly & Commissioning

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1:4 Scale WaveSub: Made in Wales; over 85 Supply Chain Companies

Deployment, Installation & Testing

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Economic Benefits / Inward Investment…

To point of completion of 1:4 scale Operation:

- £5m - Total investment by MPS in Wales alone

- 11 - Full Time Equivalent (FTE) jobs in Wales

- 70 – Person years employment in Wales

- >60% of supply chain from Welsh based companies

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Plans…

- Full scale WaveSub demonstrator

- 4 year project

- Supported by a £12.8m grant fromWEFO

- Began mid-2019

Risk reduced – ready to undertake first commercial builds

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- MPS will help Wales to capitalise on a huge opportunity that has industrial / environmental / social / economic benefits

- Marine renewables have the potential to create a key new industry for Wales

- Vestas (supplier of wind turbine hardware) is an excellent case study of how this was achieved in Denmark

- The below is a comparison of some of the UK’s top revenue generating companies with Vestas:

Company Annual Revenue £ (Billions) Employees

Airbus UK 2.1 10,000

Admiral Insurance 2.2 8,000

TATA Steel UK 2 8,500

Redrow Homes 1.9 2,500

GE Aviation - Wales 2.3 1,500

Total 10.5 30,500

CASE STUDY: Vestas (Denmark)* 10 35,000

Opportunity…

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Green recovery post COVID – short/medium/long term

• In the short term: the MPS team are busy on our full scale Operation!£17+m Operation – aim for >50% Wales. 20+ direct jobs. Significant support to supply chain.

• The International Energy Agency forecasts global energy needs to expand 30% by 2040 - the equivalent of adding another China and India to today’s global energy demand!Marine energy could supply 20% of global electricity by 2050 – contributing do decarbonisation of Wales

• Global annual hardware sales to support this market are predicted to be many $10’s billions (likely to be >>£100 bn) The wind turbine hardware supply market is today almost $100 billion

• MPS aims to be one of a small number of companies sharing this opportunityThis translates to a multi $billion turnover company in the coming years

• Case Study: Vestas is the current wind turbine market leader Reporting annual revenues of €10+ billion and more than 17% market share

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Questions

▪ Gareth Stockman (Chief Executive Officer)

▪ Gareth@marinepowersystems.co.uk

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