Panel Presentation

Final Project Presentation30 & 31 August 2016 | Cork, IrelandWave DragonSeaweed Energy SolutionsWave Energy and Offshore Aquaculture in Wales, UK

A MUS example: combined wave energy converters with a seaweed producing farm utilizing the calm water behind the Wave Dragon

Consortium DescriptionThe consortium will be composed of two companies: Wave Dragon Seaweed Energy Solutions (SES) The independent organisation, Bellona Foundation will also be involved.

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Company ProfilesWave Dragon is a private Danish/UK based company working towards the commercialisation of wave energy converter (WEC) technology to extract electricity directly from ocean waves. Seaweed Energy Solutions (SES) is a Norway-based seaweed innovation and business development company. Bellona Foundation is an independent non-profit organization that aims to mitigate against challenges of climate change through identifying and implementing sustainable environmental solutions.

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Hans Christian Soerensen, PhD, Chairman of the boardErik Friis-Madsen, MSc, CEOThe Wave Dragon technology

SES Pilot 2014/15: 100 tons6

Flexible system with 16 LLs; 200m eachInnovative substrates; industrial hatcheryFrank Neumann, Technology and Cultivation

AN OCEAN OF OPPORTUNITIES

Illustration: Ocean Forest - no reproduction without written permission

ReservoirWaves overtopping the doubly curved ramp

The Wave Dragon PrincipleWave climate - Power - Production__ 12 kW/m 1.5 MW 4 GWh/y/unit 24 kW/m 4 MW 12 GWh/y/unit36 kW/m 7 MW 20 GWh/y/unit48 kW/m 12 MW 35 GWh/y/unitTurbine outlet

Wave reflector

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It works! Power delivered to the grid20,000 hours operational track recordWave energy absorption performance verified

Offshore wave energy is a reality

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Why farm seaweed?50% of the world primary production (phososynthesis) takes place in the seaStill 99% of our food energy comes from agriculture on landSeaweed farming is sustainable: no freshwater, land area or fertilizers are needed (limiting factors on land)Wide range of market opportunities for seaweed biomassRapidly increasing interest in seaweed products and seaweed cultivationSeaweed is possibly the largest unexploited resource in Europe

12Rough introduction of seaweed market

Total production 28 million ton. Annual growth rate 8-10%.

Market value 8 billion USD

Markets: food (75 %), hydrocolloids (13 %), feed, fertilizers, cosmetics, pharmaceuticals and chemicals.

Main production from cultivation in Asia (95%)

CommodityMton/yMarine fish73Seaweed28Molluscs22Crustaceans10Salmonids4

Markets and applications133. Plant health & nutritionGrowth promotersPlant defenseMacronutrients (N, P, K)Micronutrients (Fe, Ca, Cu)Trace elements2. Health & nutrition (humans and animals)Gut health (fibers, prebiotics)Immune stimulationAnti-oxidantsAnti-inflammatoryAnti-bioticProteinVitaminsMineralsFatty acidsSkin health (cosmetics)Animal fur and mucus healthPharmaceuticals/bioactives1. Human foodSea vegetables, snacksSalt replacementFlavourTexturizer5. Industrial fermentationBiofuelsBiochemicalsSingle cell protein (SCP)4. Specialty chemicalsAlginate, carrageenan, agarAlginate derivativesMannitol and derivatesFiber/textilesMinerals

(Integrated biorefineries)

Dominating the entire cultivation cycle14

SES Pilot 2015/16: 20 tons final food product

SES exposed offshore farming vision(s)16Passive survivability design (structures moving like seaweed)Two distinct approaches analysed/considered:Active submergence in storms (wave power with classical farm designs)

Technical challenges (sea operations; wear on equipment; fewer days with work weather)Logistics: longer journey times and expensive harvest/transport/delivery sequence

Description of projects Pilot project in Wales1st Commercial project in Wales2nd Commercial project; new location3rd commercial projectWave Dragon1 WD; 4MW9 WD; 30MW9 WD; 30MW45WD; 180MWSES80 tonnes/y4000 tonnes /y4000 tonnes/y20 000 tonnes/y

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Key figures3rd commercial projectWave Dragon45WD@4MW = 180MWSES20 000 tonnes/yPay back4.3 years

IRR24.4%

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Wave Dragon and SES have solid track records in their fieldsJoint MUS project WD/SES has been initiated upon invitation of MARIBESES can cultivate in areas otherwise difficult to work in or inaccessibleWD can serve as operational base for (seaweed) aquacultureThe combined wave energy and aquaculture farm has a significant better economy than stand alone solutions (~10% reduction in levelised cost).MARIBE has facilitated significantly the exploration of this MUS, and provided valuable help and contacts for development of this visionA WD/SES pilot seems realistic in Welsh waters within a short time frame, provided that appropriate funding can be obtained.

Conclusion