M3Wave announced that the company has surpassed the $500,000 mark in grant awards in the last 18 months.
M3 Wave Energy Systems LLC was formed to commercialize the DMP ocean power device. Funding for M3 Wave Energy Systems LLC is predominantly a combination of US Government grants and private investors.
The Delos-Reyes Morrow Pressure Device, or DMP, is an innovative approach to the concept of extracting energy from the ocean, which was originally developed in 1991.
The DMP operates beneath the surface of the ocean, avoiding many of the issues inherent with surface-based systems, like ocean power buoys, ocean wind farms and floating PV.
Submerged operation reduces the impact on commercial navigation, recreation, fisheries, marine animals, aesthetics and sea birds. Residing under the surface also protects the DMP from some of the harsh aspects of the ocean environment, such aswind loading, inclement weather, rogue waves, UV damage, etc. Additional benefits include tow-to-site, self-deploying and recovery capability, enhanced power source security, and stealthy power generation potential for military applications.
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Offshore WIND staff, June 07, 2012; Image: M3Wave