UK WAVE PROJECT FUNDED BY OIL

Green Ocean Energy secures funding for Wave Treader
18 May 2011 (The Engineer)

"Green Ocean Energy has secured £45,000 funding through ITF to develop its Wave Treader technology for the oil and gas industry…[T]he six-month project will examine the potential of the Wave Treader device [originally designed to attach onto offshore wind turbines] to provide sustainable electricity to unmanned platforms and offshore installations being decommissioned.

"The device works by rotating to face into oncoming waves and converting the motion of the wave into electricity. This electricity is then fed back to the shore through the offshore windfarm’s existing cable network…Remote manned and unmanned offshore platforms currently rely on diesel generators for electricity. These incur fuel and maintenance costs, additional vessel activity and health and safety issues, as well as contamination and pollution risks…

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"Initially the project will assess the suitability and level of demand for a local energy source at a range of locations. Detailed investigation of wave resources, potential deployment methods and structural loading impacts will be carried out, alongside establishing a power matrix to quantify power demand and indicate the required size of Wave Treader…

"…ITF [is] a not-for-profit organisation owned by 26 major global oil and gas companies…[It believes the Wave Treader project] could lead the way for the future of the offshore oil and gas sector…ITF invested £25,000 from our Pioneer Fund, which supports [early-stage technology development]…Further funding [of £20,000] for the project has been raised from GDF Suez, Tata Steel and Bosch Rexroth."