TWEFDA: COMBINED WAVE ENERGY CONVERTER & GREEN STORAGE
One tool to help balance the electricity Grid.
This Scottish company is developing the first and most efficient energy tool that can produce energy generation or storage on-demand from either of each functionalities.
4 machines in one single piece or hardware truly helping decarbonise the Grid since, at any time, the Grid requires either Generation or Storage and our tool can switch from one functionality to the other providing exactly what it is required and at the same time to avoid providing what it is NOT required by the Grid.
Our vission is to reduce carbon dependency by helping balance the grid with renewable generation and storage in order to allow our children and the subsequent generations to enjoy a secure and positive future.
In line with the 17 UN Sustainable goals, our vision is to make a major contribution to solving our collective environmental challenges, by revolutionising the flexibility of renewable energy globally.
In terms of the strategy, the process of commercialisation is divided into 3 stages which are shown in Figure 7 and Figure 8:
Stage 1 (Short Term): TWEFDA Ltd will license its 10 areas of innovation (see Figure 7 for details) to established companies in the Wave and Storage market.
Stage 2 (Long Term): A Eurogia or a CET Partnership project will bring together industrial partners, to complete the development process from TRL 3 (Technology Readiness Level) onwards creating their own IP that they will exploit. In addition, they will manufacture the TWEFDA Association of the future.
Stage 3 (Exit): In 2028, when TRL 5 is achieved, one or more commercial Industrial Partners will take over, supported by TWEFDA Ltd, taking the technology to a fully commercial stage, delivering the TWEFDA Association.