Resource Potential

The marine hydrokinetic (MHK) energy sector is now emerging and its potential is vast. The U.S. Department of Energy (DOE) estimates that the power contained in the world’s ocean is equivalent to 5,000 GW worldwide. In response to this renewable energy opportunity the UK Crown Estate has issued 1800MW of tidal site allocations. Terrestrial renewables, primarily wind and solar, are in rapid deployment around the world – new investment in renewable energy generated electric power exceeded investment in fossil fuel power by $156B in 2015 ($286B vs. $130B). Yet, the vast kinetic energy of the oceans remains untapped and prime for power extraction. Aquantis Turbines (AQ Turbines) are designed to fill that need, by deployment in both the tidal and constant (gyre) currents, along coastal regions where population is dense and electric power demand is high and growing rapidly.

Launching the Aquantis Series Turbine comes at a time when, due to the imperative for dramatic near term reduction in CO2 emissions, electric utilities, energy companies and financial institutions, facing a devaluation or stranding of their carbon fuel-based assets, are more and more resorting to divestment, write-down and/or effecting sharp cutbacks in spending on future fossil fuel projects.

This is simultaneously accelerating capital flows and new supportive government policies toward renewable energy technologies, stimulating a powerful wave of market demand for renewable energy products. Aquantis aims to lead the way with technologies for the new industry of ocean energy.