Specifically, the UK company will be able to launch an extensive project, with the funding being part of a GBP 6.2 million under the Cornwall and Isles of Scilly Local Enterprise Partnership scheme.

WeveSub is a wave energy generation designed to provide easy operation and maintenance at sea, along with low cost transportation and installation. Moreover, the system's stability enables the company to explore its suitability for use as a platform for wind turbines, particularly in locations where wind speeds are high but water depths make a fixed base turbine too costly to install – a constraint widely recognised in the sector.

Following trials, the company's approach could provide a strong and stable platform, able to have a turbine installed. This turbine will ease the capture of wave and wind energy from the ocean, thus leading to the development of the two devices.

Moreover, DualSub and WindSub completed prototype stability tests, computational simulation and cost of energy modeling. Consequently, the positive results led the company to proceed to the development of both devices and the ERDF funding will allow moving through a significant program of work to a point of demonstrator sea-testing, before progressing to commercial readiness in 2023.

Dr. Graham Foster, Chief Technical Officer at MPS commented that

Following extensive testing and computational modelling over the last year, we’ve produced some hugely encouraging results regarding the potential viability of DualSub as a combined wave and floating offshore wind technology.

Overall, renewable energy, such as wave technology have been on the spotlight the past years; For instance, Ocean Energy Systems (OES) launched its annual report for 2018 noting that ocean energy progresses at a policy level within a global energy market that is seeing significant change, while the imperative and drivers for renewable energy continue to increase.