Ann: Application for quotation of securities - CCE, page-8

It has a small potential for specific operations in specific areas . Has to be exposed areas with suitable movement and with operators who are renewing equipment or doing new areas etc. I am not sure retrofit is a reality to existing support vessels . It will come down to economics which as the units are above the waterline may have a chance. Just what return on capital in having such a vessel can achieve as opposed to solar panels on pens , floating solar and battery onboard vessels will be interesting to compare as solar is so well understood. Much of energy use required in aquaculture is during daylight so some aspects of wave energy overnight are not as great an advantage .

The ability to reduce amount of storage of fuel that can contaminate aquaculture is a benefit but until it is eliminated there is still smaller scale fuel spill risk and service / resupply / transport vessels still pose that risk

Simple answer is CCE needs to find a niche and generate some income and prove itself as otherwise it won't get scale of investment it needs to get through trials to next stage.

Spanish sale of energy into system will be a small income and every bit helps especially when you do not pay for infrastructure and share other costs of site so they learn a lot about integration into a grid and further add to knowledge base on economics of where a suitable area would be.

CCE need to publish compelling data and prove how far along their progress time line and cost of energy they are in a easy to understand way for any continued investment . Timeline is important as other technology like batteries, stored hydro , solar at scale keeps taking away areas 20 years ago Carnegie would have had a easy entry if they had operational buoys etc etc