Periodic Reporting for period 1 - HACE (Making wave energy competitive with wind and solar energy)
Reporting period: 2018-03-01 to 2018-06-30
HACE has developed a wave energy capture technology that will enable it to compete with wind and solar energy, while greatly reducing intermittence problems.
At the end of 2017, the technology is at the TRL5 stage and at this stage HACE believes it has a revolutionary technical solution. But many steps remain to be taken to launch the company on its markets.
In 2018, two major objectives are defined:
1/ Put a 50 kW demonstrator into service.
2/ Analyse market access conditions. To do this, we conduct a market study, a technical and economic analysis, and a Freedom to operate analysis.
Those two goals beeing achived, we now focus on the scale up of our Wave Energy Recover and on the way to market.
At the end of 2017, the technology is at the TRL5 stage and at this stage HACE believes it has a revolutionary technical solution. But many steps remain to be taken to launch the company on its markets.
In 2018, two major objectives are defined:
1/ Put a 50 kW demonstrator into service.
2/ Analyse market access conditions. To do this, we conduct a market study, a technical and economic analysis, and a Freedom to operate analysis.
Those two goals beeing achived, we now focus on the scale up of our Wave Energy Recover and on the way to market.
Since the beginning of the project, we have identified subcontractors with whom we have worked and validated an overall architecture of our system to make it resilient. We have developed and manufactured valves that operate at low pressures and withstand storms. Together with a turbine specialist, we developed and manufactured a unidirectional turbine with a low pressure field, a flat operating curve and an efficiency of 90%. We finally assembled all the sub-elements. In parallel, we conducted market research, met with prospects and developers, obtained letters of intent and formed our opinion on the first customer targets to be reached.
From now on, we wish to exploit the results of our H50 proof of concept, use the lessons collected during the construction phase of this proof of concept to produce an H200 and H1000 that will incorporate an industrial approach, a 70% load factor target, and a 5 cts/kWh LCOE target on mass production into their design.
This will enable us to put on the market a competitive, almost non-intermittent and highly acceptable energy supply (low visual impact of our devices), accessible anywhere in the world.
This will enable us to put on the market a competitive, almost non-intermittent and highly acceptable energy supply (low visual impact of our devices), accessible anywhere in the world.