Ocean energy is a vast source of renewable energy. It helps to diversify the global energy mix and reduce dependence on fossil fuels. Through our partnerships, we support innovations that utilise wave energy efficiently and sustainably.

Conservative estimates show that in the future the ocean energy industry will provide 10 per cent of global energy needs. But in order to survive in the long term, it is vital to reduce the cost of ocean energy to a level where it can compete with offshore wind and other traditional methods of generating electricity.

The challenge for many in this fast-moving industry is to prove, optimise and prepare ocean energy technologies for commercialisation and ultimately sustainability with preferred technology partners. This is our entry point.