Community Research and Development Information Service - CORDIS


POSEIDON Report Summary

Project reference: 673976

Periodic Reporting for period 1 - POSEIDON (Market maturation of Floating Power Plant’s Floating Wind- Wave- Energy Device)

Summary of the context and overall objectives of the project

FPP has been awarded 1.14 m€ for the 2 year project ”Market maturation of Floating Power Plant’s Floating Wind- Wave- Energy Device - POSEIDON” under the European Union’s Horizon 2020 research and innovation programme under grant agreement No 673976 (SME program).

This support will significantly speed up and increase the effort for the commercialisation of the UK market.

We greatly appreciate the EUs support/trust and the Utilities and site developers that have provide support and letters for the application.

The project contain six main work packages:

WP1 Project Management

WP2 Development of Value Chain

WP3 Market recognition as a hybrid device

WP4 Building market confidence - Showcasing

WP5 Commercial-scale device specifications

WP6 Exploitation, Dissemination and Communication

The Key opbjectives of the project is to:
Development of value chain for the UK market. Expected key Outcome:
• Value chain in place for site development, device manufacturing, deployment, logistics, and operation and maintenance.
• Engagement with key stakeholders

Development of commercial-scale device classification and certification procedures. Expected key Outcome:
• Establish certification methodology, which will facilitate certification of the device and communication with stakeholders.
• Reduction of risks, insurance and financing costs.

Show casing of technology (a 1:50 scale version of the P80 device in a wave flume) for stakeholders, customers and relevant parties to the market Development. Expected key Outcome:
• Increased awareness about FPP technology advantages, and confidence in performance predictions for specific sites.
• Encouraged uptake of FPP’s innovation on a broader scale.
• Accurate numerical models. Ensure that all values given for external use, such as certification or manufacturing requirements, are of the utmost accuracy.

Definition of P80 specifications and external validation of P80 design. Expected key Outcome:
• Design optimised for the UK market to ensure an optimal operation of the device, taking into account feedback from environmental agencies, value chain partners, site developers and end-users.
• Updated IPR to cover any design modifications.
• Speed up of due diligences; acceptance/trust in P80 technology data.

Refinement of innovation business plan. Expected key outcome:
• Business model updated and validated for the UK.
• Commercialisation strategy validated.

The overall long term objective of POSEIDON project is to position FPP for high growth by generating market uptake of its innovative hybrid concept for the deep water offshore renewables segment (from DoA)

The project started June 1 st. 2015 and has just completed the first half year.

On the public webpage a summary of the workpages and Progress so far is given.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

On the public webpage a summary of the workpages and Progress so far is given.

The key of objectives of WP1 are to:

1) Ensure an efficient administrative execution of the project, so that all knowledge created is managed and disseminated in a coordinated and coherent manner, and that all technical activities, financial and legal aspects are managed to a high standard.
2) Ensure all aspects of the EC requirements for communication and reporting are fulfilled.
3) Overall management of the activities within the project.
4) Risk management and definition of contingency planning.

This WP is led by CEO Anders Køhler.

The key focus of the WP is to make sure the project meets the overall objectives of this 2 year project.

Task 1.1: Project management and coordination
•Starting up project
•Kick off meeting
•Continues meetings
•Review meeting 1
•Organizing the project and hiring people in
•Control of milestone and deliverables
•Coordinating information and motivation

Task 1.2: Administration and Reporting
•Following up on budget and hour registration
•Signing of tenders
•Continues reporting to the portal
•Setting up UK ltd and making project amendment
•Dialog with EU project coordinator

Task 1.3: Risk management and contingency planning
•Risk management and contingency ◦As part of the management of the project risk management and contingency follow up is an important tool. As stated in the application, follow up on the progress, milestones and objectives have been added to board meeting gross agenda. As the goals of the project and the goal of the company are significantly linked.
This secures continued updates and focus on the progress towards milestone and objectives. An example of the above in the choice to setup FPP Ltd.
◦The challenge with hiring a naval architect and getting that qualification has been the main risk so far.

WP2 Development of Value Chain
The key of objectives of WP2 are to:
1) Identify value chain for fast following deployment.
2) Obtain design requirements for the select site(s) and value chain.

This WP is lead by UK Business Developer Chris McConville

Key areas of interests are currently:

- Steel fabrication in UK, preferably with panel line capabilities.
- Dry dock assembly facilities (larger than 80 x 80 x 7 meters ) (width x length x dragt)

three key activities are undergoing:

1) The establishment of a site demands/requirement matrix
2) The establishment of a platform component break down
3) The establishment of a long term O&M philosophy and service need matrix

Task 2.1 – Deployment Site
In this first period FPP Ltd has had a significant focus on identifying potential deployment sites in the UK by subcontracting IT Power to deliver a site assessment study. Four companies were invited to tender for this work with an assessment finding. IT Power’s bid the most economically advantageous. The report from the study provides two main findings: firstly it shows the massive potential around the UK for FPP’s technology based on the minimum technical requirements; secondly it adds further, desirable requirements for a first deployment (such as suitable grid infrastructure) which highlights three areas as being particularly suitable for the first UK project. This has allowed the high level requirements to be determined for the first deployment and FPP will now discuss with their project partner which site to take forward before spending effort to obtain more detailed data to be used in the design process.

Task 2.2 – Manufacturing
In order to support the development of the value chain an initial task carried out by FPP A/S was to produce to internal report documents. The first of these is a system breakdown which details the P80 system in terms of its main modules, sub modules, systems and component parts. This enables discussion with potential suppliers around the size and capability (e.g. craneage capa

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

Below the expected final results/impacts are summaried:

Market Potential and Trends - Expected impact:
- Immediate market potential of approximately 300MW in Europe

Market Segments and Targeted Users Expected impact:
- Accessing deeper water offshore market.
- Primary focus on the UK, in particular Scotland due to requirement to access deep water with considerable wave regimes

User Needs - Expected impact
- Accessing deeper water >45m
- Providing energy at a lower LCoE
- Increase access, availability and safety

Market Barriers – High Capital cost - Expected impact:
- Staged project development with end users to access affordable capital

Market Barriers – New Market - Expected impact:
- Establishment of multiple potential suppliers based on location and skills. Develop supply chain and integration plan, working with key suppliers to demonstrate growth trajectory and develop design and requirements

Market Barriers – Technology Risk Perception - Expected impact:
- Reduced risk perception through awareness of FPP technology and understanding of performance to date.
- Showcase technology and testing to key stakeholders.

Market Barriers – Regulations, Standards and Classification - Expected impact:
- Development of standards and certification procedure for hybrid devices, providing end user confidence

Market Barriers – Political Environment - Expected impact:
- Contribute to market lobbying and general communication to stakeholders on need for suitable support and the advances in technology and reduction in LCoE of offshore energy.

Competitive Benefits - Expected impact:
- Development of unique combination of competitive product features Demonstration of low LCoE model
- Only grid connected and proven hybrid device.

Company - Expected impact:
- P80 device correct scale for target markets
- Establishment of long term “technology provider” business model through well developed supply chain

Related information

Record Number: 186466 / Last updated on: 2016-07-12