GOVERNMENT & ECONOMY
Low Carbon: Following the UNFCCC Paris Climate Accord, governments around the world have committed to carbon reducing targets and have a huge interest in the promotion and development of low carbon sources of energy production.
The decarbonising of energy production is a set target of the UK Government – Catapult
Circular Economy: A key element in the ES-Wave design is to facilitate the repurposing of existing structures used in oil and gas extraction, such as pipelines and/or jackets, to contribute to a circular economy and reduce the ecological and carbon footprints of the new generating capacity.
There is a duty for offshore installations and pipelines to be decommissioned imposed by the UK Government
Great Export Potential: The ES-Wave is unique. With its high production yield and low cost of energy due to its double business stream, it is set to be an industry leader with great export potential thereby generating local jobs and increasing Scotland's GDP.
Decommissioning Relief Deeds (DRDs) is a contract between the UK Government and companies operating in the UK and UK Continental Shelf, to provide certainty on the tax relief they will receive when decommissioning assets. Just displacing this tax relief in time is a finance strategy very well linked with the current COVID19 pandemic and the costly transition towards a more sustainable world.