BIG MONEY RIDING WAVES

A lot of people seem to think this is a lot more than one of those "gee, what if..." concepts. Like they say, "follow the money."

Between 2004 and 2008, It Has Been Estimated That the World Capital Expenditure (CAPEX) on Wave Energy Will Be US$140 Million, with Almost 50% of This in the UK
April 3, 2007 (Business Wire via Yahoo Finance)

WHO
ResearchAndMarkets, a market research arm of ABS Energy Research, reporting on and about investors in various forms of ocean energy.

WHAT
Ocean energy can be derived from tidal movement, wave motion, and ocean and marine environmental phenomena.

WHEN
The report focuses on the 2004 – 2008 period.

WHERE
The report describes market R&D investment in the United Kingdom.

WHY
- Investment in ocean energy leaped forward in 2006 and is expected to draw ever greater world capital expenditure (CAPEX) in the next two years:
- Wave energy will be US$140 million, almost 50% in the UK
- Tidal projects will approach US$110 million, almost 90% related to the UK market
- The technology nearest to commercialization is the Pelamis, developed by Ocean Power Delivery Ltd in Scotland
- The first commercial grid-connected ocean-current turbine is being tested at Lynmouth, UK
- The first ship to use oscillating water wings may be the Orcelle

QUOTES
“Scotland is fast becoming the global leader in ocean energy research and development… While committed tidal projects are primarily off the East Asian Pacific coasts of Korea and China, the bulk of wave energy projects are being developed in Europe. The UK and Portugal are the countries with the most current activity.”

Research and Markets has announced the addition of The Ocean Energy Report Ed 3 2007 to their offering.