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MARINE ENERGY – INDUSTRY PERSPECTIVE RICHARD YEMM Pelamis Wave Power Ltd February 2009

MARINE ENERGY – INDUSTRY PERSPECTIVE RICHARD YEMM Pelamis Wave Power Ltd February 2009. Marine Energy – where have we got to?. We have come a long way in 10 years…!!! Significant Venture Capital now engaged in sector We are at the stage of proving the core technology:

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MARINE ENERGY – INDUSTRY PERSPECTIVE RICHARD YEMM Pelamis Wave Power Ltd February 2009

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  1. MARINE ENERGY – INDUSTRY PERSPECTIVE RICHARD YEMM Pelamis Wave Power Ltd February 2009

  2. Marine Energy – where have we got to? • We have come a long way in 10 years…!!! • Significant Venture Capital now engaged in sector • We are at the stage of proving the core technology: • Prototype and now pre-commercial machines • Manufacturing and supply chain development • Project infrastructure • Operational procedures • We are putting in place industry design, performance & operational standards and best practices • We have gained credibility, and interest of energy sector But… we have not proven commercial operation yet…

  3. FROM THIS….

  4. TO THIS…. Commercial in Confidence

  5. Commercial in Confidence Commercial in Confidence

  6. Commercial in Confidence Commercial in Confidence

  7. Commercial in Confidence Commercial in Confidence

  8. Commercial in Confidence Commercial in Confidence

  9. Commercial in Confidence Commercial in Confidence

  10. Commercial in Confidence Commercial in Confidence

  11. Current focus Cumulative finance Investment risk Cost reduction – the development cycle Marine Energy – where have we got to?

  12. STATUS OF MARKETS • Many initiatives have come through specific lobbying at National level • Scotland has led this with: • EMEC test centre • WATES grant scheme • Feeder market support within ROS • First Marine Energy SEA • Saltire prize • Attractive schemes in Portugal, Ireland etc • Many other countries assessing options • However, little coordination or drive has come from EU • National programmes have very limited resources & budgets • Little emphasis within FP7 despite criticality of sector for 2020 targets and beyond • Need to address new competitive threat from USA CONCLUSION: COORDINATED ACTION WITHIN EU ESSENTIAL

  13. WHAT ARE KEY INDUSTRY ISSUES? • Stepping to the next level of funding… • Investment • Grants • Diffuse technology base, no major consolidation as yet (but it will come!) • Clarity on diverse long term stable feeder markets • In many areas – access to grid, planning, consenting • Poor industry coordination in many areas And critically: The lack of material targets for the sector within EU

  14. WHAT CAN / SHOULD EU DO? • Significantly raise the profile of the sector in forward thinking to enhance investor & customer confidence • Move strongly to secure opportunity here to secure export markets in due course through: • Learning from / mirroring experience of wind and oil & gas industries • Build a solid domestic technology and industry base before taking it global • Move strongly to address the new competitive threat from USA to secure industrial opportunity • Dedicate major funding streams to augment National programmes And above all else: DO ALL POSSIBLE TO CREATE A SOLID PLATFORM FOR PRIVATE SECTOR TO DELIVER!

  15. WHAT CAN / SHOULD INDUSTRY DO NEXT? • Set realistic, deliverable, EU goals and targets • Engage more closely with appropriate industries • Prepare itself and all stakeholders for some failures – they are inevitable! • Significantly improve sector coordination and lobbying in Europe Look closely at the potential for coordination and partnering within European Union – to spread market burden and risk, strengthen overall competitive position, and release far larger funding streams

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