John McCarthy, CEO.

www.oceanenergy.ie

Annual Global Electricity Usage; 18,000 TW/h

Achievable Wave Electricity Supply; 2,000 TW/h

Global Market Worth up to; € 200 B. p.a.

Resource Renewed; Continually.

OCEANENERGY - The Resource

Voith Hydro (Wavegen) Concept Design, Fixed Shore Device

Voith Hydro – Fixed Shore Device, Islay, Scotland

- Founded in 2001.

- Focus on commercial Wave Energy Devices.

- Funding to date : Equity and State Supports.

- Quarter Scale live Sea state testing completed.

OCEANENERGY – The Company

OceanEnergy - Technology

• Simple Design and Ease of Construction.

• Only one moving part in power generation.

• Low mooring forces - vastly improved survivability.

• Low maintenance.

• Plug and Play / Unplug Away.

OCEANENERGY BUOY OPERATION

Galway Bay – 1:4 Test Device

2006 - 2009, The Results• Survivability.

• 21,900 (2 ½ Years) hours on Station.

• Wave heights scale 32m during trials.

• Air flows and Power Output confirmed.

• Minimum Mooring Tensions.

Development & Evaluation ProtocolHMRC (UCC) & Marine Institute (2003)

• Phase 1 ; Validation Model.

• Phase 2 ; Design Model.

• Phase 3 ; Process Model.

• Phase 4 ; Prototype Device.

• Phase 5; Demonstration Device.

Ocean Energy in IrelandGovernment Strategy (2006)

• Phase 1 (2005-2007) ; Large Scale proto-types.

• Phase 2 (2008-2010) ; Pre-commercial grid devices.

• Phase 3 (2011-2015) ; Large scale array.

• Phase 4 (2016 onwards) ; Large scale market deployment.

Commercialisation 1:1

Live Sea Trials 1:1.25

Live Sea Trials1:4

HMRC, ECN FRANCE

1:15

UCC HMRC 1:50

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20112012

onwards

OE Buoy Performance

0 2 4 6 8 10

Significant Wave Height

Po

we

r

1:50 Tests1:15 TestsGalway Bay Tests

Ocean Energy LimitedNext Steps

• ¾ Scale device; • Build; 2009 - 2010

• Deployment; 2010 - 2011

• Full scale device ;• Build; 2011 – 2012

• Deployment; 2012 - 2013

Irish Government – Ocean Energy

• Government Target 2020 ; 500mw.

• Feed-in tariff ; €220 MW/h.

• Funding Package ; €26m.

• Funding Agency ; 1 v Multi.

Employment – Wind Industry

Manufacturing

71%Other Direct

Employment

10%

Operations &

Maintenance

12%

Installation

7%

Source; EWEA

Investors in the Industry

GE, Iberdrola, Total SA, Voith Siemens, RWE, Fred Olsen, Chevron, Vattenfal, Emera, Norsk HydroEDF Energy, ESBI, Scottish and Southern Energy, NIE,NPower, Guernsey Electricity,Dresser – Rand Pacific Gas & Electric

Source; Emerging Energy Consulting

B.A.N.A.N.A.

Build Absolutely Nothing Anywhere Near Anybody.

www.oceanenergy.ie