POWER TO CHANGE THE FUTURE Minesto's mission is to minimize ...
POWER TO CHANGE THE FUTURE Minesto’s mission is to minimize the global footprint of the energy industry by enabling commercial power production from low velocity tidal and ocean currents.
26 June 2014
World Class R&D Centre in Ocean Energy Facts
Market recognition
Founded: 2007 Offices: Göteborg & Portaferry Employees: 26 + 10 Funding: €15M Major Owners: Midroc New Technology, BGA Invest, Saab Ventures, Chalmers, Dunross
Research Partners
26 June 2014
Strategic Suppliers
Public support
Why Ocean & Tidal Currents?
Credit to: NASA's Goddard Space Flight Center
Predictable – Energy rich – Reliable – Global Deep Green can supply 50% of South Koreas electric needs 26 June 2014
Why Minesto? Low cost of energy
Access to sites
• Increases the velocity with a factor of 10 • Low CAPEX due to low weight (between 5-10% of competing solutions) • Low OPEX due to the use of small ships(between 4-10% of competing cost)
• Unique ability to produce electricity from low and medium flow tidal- and ocean currents • Increase the potential for tidal energy with 50% in Europe • Access sites that no other known technology can be competitive at
Minesto
Material needed to generate 500kW @1.5m/s
26 June 2014
Other
Market monopoly with great potential Minesto’s ability to produce cost-efficient electricity at low velocity sites significantly expands the market potential, the market is valuated to €250 billion in annual electricity sales
Minesto tidal market
Minesto’s products have a global market potential to generate electricity for £135 billion-pa in annual yield.
World market ocean currents
Complementary market – Ocean currents - Florida Current: 5GW(10.000 units) - Kuroshio Current: 8GW (16.000 units) - Australian Current: 18GW (36.000 units)
“The Deep Green technology is able to operate economically at sites where no other renowned technology has been identified” 26 June 2014
The Opportunity Global potential and government support Canada
Estimated 6300MW tidal stream potential 250MW marine renewables by 2020 Feed-in Tariffs (FiTs) in Bay of Fundy Favourable licensing schemes
UK WEFO has €20m for full-scale pilot projects in ocean energy Renewable Energy Investment Fund (REIF) of £103M £305/MWh Contracts for Difference value
Japan 10,000MW tidal current potential 10% total energy from renewables by 2020 Ocean Energy Technological Research And Development programme
Europe USA 250 TWh/year tidal stream potential 25% of electricity from renewables by 2025 Feed-in Tariffs (FiTs) Tax credits for ocean energy systems
Horizon 2020 has €70 billion budget for SME development in renewable energy 20% total energy from renewables by 2020
South Korea 288,000 tonnes of oil-worth of tidal stream resource 16% ocean renewables by 2024 Favourable legislation
China Chile $25M investment from government in marine renewables High base electricity costs Minesto are exploring regional licence opportunities
14,000MW tidal current potential 20% total energy from renewables by 2020 c 100M funding program sponsored by the Ministry of Finance and State Oceanic Administration Sources: An overview of ocean renewable energy in China, Yuhe Jiao; DHI study for Minesto; http://www.nippon.com/en/in-depth/a01203/; The transition to green energy in China, Japan and Korea, Innovation Norway; http://energy.gov/eere/water/marine-and-hydrokinetic-resource-assessment-and-characterization; Global trends in the emerging ocean energy market, IEA
UK – First Market Strangford Lough – Northern Ireland
•1:4 test installation •R&D test platform •Performance & reliability optimization •O&M process development •Commercial sites identified
• • • • •
UK perspective Member of the Marine Strategy GroupRUK since 2008 Working relationship with gov. bodies; DECC, Carbon Trust, Crown Estate, WEFO Working relationship with Bangor, Strathclyde, Swansea and Queens Uni Supply chain for manufacturing, installation and site Development Joint EUROSTAR project with Atlantis Resource Corporation for wing development 26 June 2014
Wales
•Site development for 10 MW Demonstration Array •Working relations with PMSS, Bangor Uni, SEACAMS, Swansea Uni •1st full-scale Deep Green power plant in the water 2016 Isle of Wight – SOLENT
•30MW site developed by TB Partners LLB and Isle of Wight Council •Possible for a 5MW “plug and play” solution for Minesto
Deep Green – A Step Change Technology • High efficiency
– Due to the ability to increase the relative flow by a factor of 10.
• Small in size and lightweight
– A 0.5MW plant weighs 7 tonnes, which is 10-25 times less per MW than competing technologies designed for hot-spot sites (over 2.4m/s).
• Low-cost offshore operations
– Smaller boats and equipment for installation, service and maintenance.
• Availability at sites for offshore operations
– In high-velocity currents boats can only operate for a maximum of 3 hours per day. Deep Green sites are accessible up to 14 hours per day so costs for offshore operations decrease.
• Lowest cost of energy
– The unique design and all the above reasons lead to the ultimate advantage of a low cost of energy.
26 June 2014
The Deep Green Technology
26 June 2014
Environmental Effects One Deep Green can abate 1 400 tonnes of CO2-emissions per year Mission: Secure no negative interaction with the marine environment What we do: Environmental protection and assessments • Mammal detection system used during ocean trials • Build knowledge and gather scientific data for future installations • Close cooperation with world leading researchers –
Bangor University, Swansea University, Queens University of Belfast, Chalmers University of Technology, SMRU, PMSS and Marenco
Conclusions to date: Positive effects on marine life • Mammals adapt well – No negative impact detected • Installations can create artificial reefs • Installation area is protected from bottom trawling “Environmental effects from tidal energy devices may be somewhat limited because they will be located in already energetic, moving water environments, which have low species diversity and abundances” – IPCC
26 June 2014
Changing the Tidal Energy Landscape From…
High velocity currents
To…
High & low velocity currents
Tidal market for competitor’s solutions for high velocity tidal sites
Tidal market for Minesto’s & competitor’s solutions for high & low velocity tidal sites
• Practical UK tidal resource 21TWh/yr • 6% of current UK electricity demand
• Practical UK tidal resource 70TWh/yr • 20% of current UK electricity demand
26 June 2014
Team Management team
CEO Anders Jansson
CFO Charlotta Ekman
CTO Heije Westberg
Board of Directors
Chairman Martin Edlund
26 June 2014
Board member Bengt Adolfsson
Board member Göran Linder
Board member Git Adolfsson
Inventor Magnus Landberg
POWER TO CHANGE THE FUTURE
26 June 2014
26 June 2014
World Class R&D Centre in Ocean Energy Facts
Market recognition
Founded: 2007 Offices: Göteborg & Portaferry Employees: 26 + 10 Funding: €15M Major Owners: Midroc New Technology, BGA Invest, Saab Ventures, Chalmers, Dunross
Research Partners
26 June 2014
Strategic Suppliers
Public support
Why Ocean & Tidal Currents?
Credit to: NASA's Goddard Space Flight Center
Predictable – Energy rich – Reliable – Global Deep Green can supply 50% of South Koreas electric needs 26 June 2014
Why Minesto? Low cost of energy
Access to sites
• Increases the velocity with a factor of 10 • Low CAPEX due to low weight (between 5-10% of competing solutions) • Low OPEX due to the use of small ships(between 4-10% of competing cost)
• Unique ability to produce electricity from low and medium flow tidal- and ocean currents • Increase the potential for tidal energy with 50% in Europe • Access sites that no other known technology can be competitive at
Minesto
Material needed to generate 500kW @1.5m/s
26 June 2014
Other
Market monopoly with great potential Minesto’s ability to produce cost-efficient electricity at low velocity sites significantly expands the market potential, the market is valuated to €250 billion in annual electricity sales
Minesto tidal market
Minesto’s products have a global market potential to generate electricity for £135 billion-pa in annual yield.
World market ocean currents
Complementary market – Ocean currents - Florida Current: 5GW(10.000 units) - Kuroshio Current: 8GW (16.000 units) - Australian Current: 18GW (36.000 units)
“The Deep Green technology is able to operate economically at sites where no other renowned technology has been identified” 26 June 2014
The Opportunity Global potential and government support Canada
Estimated 6300MW tidal stream potential 250MW marine renewables by 2020 Feed-in Tariffs (FiTs) in Bay of Fundy Favourable licensing schemes
UK WEFO has €20m for full-scale pilot projects in ocean energy Renewable Energy Investment Fund (REIF) of £103M £305/MWh Contracts for Difference value
Japan 10,000MW tidal current potential 10% total energy from renewables by 2020 Ocean Energy Technological Research And Development programme
Europe USA 250 TWh/year tidal stream potential 25% of electricity from renewables by 2025 Feed-in Tariffs (FiTs) Tax credits for ocean energy systems
Horizon 2020 has €70 billion budget for SME development in renewable energy 20% total energy from renewables by 2020
South Korea 288,000 tonnes of oil-worth of tidal stream resource 16% ocean renewables by 2024 Favourable legislation
China Chile $25M investment from government in marine renewables High base electricity costs Minesto are exploring regional licence opportunities
14,000MW tidal current potential 20% total energy from renewables by 2020 c 100M funding program sponsored by the Ministry of Finance and State Oceanic Administration Sources: An overview of ocean renewable energy in China, Yuhe Jiao; DHI study for Minesto; http://www.nippon.com/en/in-depth/a01203/; The transition to green energy in China, Japan and Korea, Innovation Norway; http://energy.gov/eere/water/marine-and-hydrokinetic-resource-assessment-and-characterization; Global trends in the emerging ocean energy market, IEA
UK – First Market Strangford Lough – Northern Ireland
•1:4 test installation •R&D test platform •Performance & reliability optimization •O&M process development •Commercial sites identified
• • • • •
UK perspective Member of the Marine Strategy GroupRUK since 2008 Working relationship with gov. bodies; DECC, Carbon Trust, Crown Estate, WEFO Working relationship with Bangor, Strathclyde, Swansea and Queens Uni Supply chain for manufacturing, installation and site Development Joint EUROSTAR project with Atlantis Resource Corporation for wing development 26 June 2014
Wales
•Site development for 10 MW Demonstration Array •Working relations with PMSS, Bangor Uni, SEACAMS, Swansea Uni •1st full-scale Deep Green power plant in the water 2016 Isle of Wight – SOLENT
•30MW site developed by TB Partners LLB and Isle of Wight Council •Possible for a 5MW “plug and play” solution for Minesto
Deep Green – A Step Change Technology • High efficiency
– Due to the ability to increase the relative flow by a factor of 10.
• Small in size and lightweight
– A 0.5MW plant weighs 7 tonnes, which is 10-25 times less per MW than competing technologies designed for hot-spot sites (over 2.4m/s).
• Low-cost offshore operations
– Smaller boats and equipment for installation, service and maintenance.
• Availability at sites for offshore operations
– In high-velocity currents boats can only operate for a maximum of 3 hours per day. Deep Green sites are accessible up to 14 hours per day so costs for offshore operations decrease.
• Lowest cost of energy
– The unique design and all the above reasons lead to the ultimate advantage of a low cost of energy.
26 June 2014
The Deep Green Technology
26 June 2014
Environmental Effects One Deep Green can abate 1 400 tonnes of CO2-emissions per year Mission: Secure no negative interaction with the marine environment What we do: Environmental protection and assessments • Mammal detection system used during ocean trials • Build knowledge and gather scientific data for future installations • Close cooperation with world leading researchers –
Bangor University, Swansea University, Queens University of Belfast, Chalmers University of Technology, SMRU, PMSS and Marenco
Conclusions to date: Positive effects on marine life • Mammals adapt well – No negative impact detected • Installations can create artificial reefs • Installation area is protected from bottom trawling “Environmental effects from tidal energy devices may be somewhat limited because they will be located in already energetic, moving water environments, which have low species diversity and abundances” – IPCC
26 June 2014
Changing the Tidal Energy Landscape From…
High velocity currents
To…
High & low velocity currents
Tidal market for competitor’s solutions for high velocity tidal sites
Tidal market for Minesto’s & competitor’s solutions for high & low velocity tidal sites
• Practical UK tidal resource 21TWh/yr • 6% of current UK electricity demand
• Practical UK tidal resource 70TWh/yr • 20% of current UK electricity demand
26 June 2014
Team Management team
CEO Anders Jansson
CFO Charlotta Ekman
CTO Heije Westberg
Board of Directors
Chairman Martin Edlund
26 June 2014
Board member Bengt Adolfsson
Board member Göran Linder
Board member Git Adolfsson
Inventor Magnus Landberg
POWER TO CHANGE THE FUTURE
26 June 2014
