Updated: 010717
Project: Market maturation of Floating Power Plant’s floating wind and wave energy device POSEIDON
At the start of the project FPP had two years of offshore tests with a ½ scale prototype, being the only technology developer in the world to have delivered power to the grid from wave and wind at the same time. This combined with key IP, a small organisation in Denmark, key partners in place for development of key components, (mainly design partners), first generations of advanced numerical models and engineering, interest from end users with initial negotiation on project but no explicit pipeline, no clear path for certification and insurance etc.
The overall objective of the POSEIDON project was to position FPP for high growth by generating market uptake of its innovative hybrid concept for the deep water offshore renewables segment
5 sub objectives and outcomes were identified to secure the overall objective:
OBJECTIVE 1
Development of value chain for the UK market
a) Value chain in place for site development, device manufacturing, deployment, logistics and operation and maintenance (O&M)
b) Engagement with key stakeholders.
OBJECTIVE 2
Development of commercial-scale device classification and certification procedures
a) Establish certification methodology, which will facilitate certification of the device and communication with stakeholders
b) Reduction of risks, insurance and financing costs.
OBJECTIVE 3
Showcasing of technology (a 1:50 scale version of the P80 device) for stakeholders, customers and relevant parties to the market development
a) Increased awareness about FPP’s technology’s advantages and confidence in performance predictions for specific sites
b) Encourage uptake of FPP’s innovation on a broader scale
c) Accurate numerical models. Ensure that all values given for external use, such as certification or manufacturing requirements, are of the utmost accuracy.
OBJECTIVE 4
Definition of P80 specifications and external validation of P80 design
a) 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.
b) Updated IPR to cover any design modifications.
c) Speed up of due diligences; acceptance/trust in P80 technology data.
OBJECTIVE 5
Refinement of innovation business plan
a) Business model updated and validated for the UK.
b) Commercialisation strategy validated.
