MARKET CONDITIONS

A number of environmental and economic circumstances have converged to create a powerful demand for MCT’s technology. Although the relentless energy of marine currents has been obvious from the earliest days of seafaring, it is only now that the development of modern offshore engineering capabilities coinciding with the need to find large new renewable energy resources makes this technically feasible and economically imperative.
 

• In the face of Climate Change and Peak Oil, the world urgently needs to acquire different energy resources with ability to deliver clean renewable energy in line with the Kyoto Protocol  (now in force and ratified by 178 countries) and Marine Current Turbines can deliver a major and uniquely new contribution to this need.

• The scope for meeting future energy requirements solely from land-based resources will be constrained by conflicts over land-use; so large renewable energy projects will need to move away from crowded land areas, preferably out to sea. Fortunately, many potentially energetic marine current sites are not far from large electricity markets. Wave energy is more constrained in this respect as centres of population tend to be far from exposed areas of ocean with large wave energy potential.

• Marine Current Turbines Ltd has a competitive lead in its field, together with the most efficient technology and uniquely practical methods for servicing it. MCT is the first and only company to have a commercially viable machine and owns proprietary concepts which are patent protected internationally and will protect their significant competitive advantage.

• Environmental impact is a key issue in gaining consents from government regulatory authorities for energy projects; MCT's technology has minimal environmental impact in that the physical footprint is very small, and rotor speeds are slow so that marine wild life can easily avoid it.