Whatever the unit cost, there's no way IMO it can be $16k LOL. These buoys weigh less than 70 kg each from memory and they are not filled with complex engineering - just simple moving parts, some electronics, pistons and cabling. The cleverness we know is in this simplicity, and, very importantly, their unique responsiveness to the hydrostatic resistance properties of water itself to efficiently generate power.
Just to play devil's advocate for a moment - what is it worth to the company (exposure wise) to get a commercialised WEC system on the market, with contracts and revenue - WITHOUT any form of government grant, or subsidy needed in either it's early design, development, approval or production to market?
Think about it, a renewable energy source not requiring those means to survive - unlike early solar and wind which we wouldn't have if not for that support.
Now, it seems, solar is gaining greater traction (i.e land-based) as the real cost benefits of mass global production are coming to fruition. Advances in battery technology will stretch that benefit even further, with batteries able to enhance all the renewable options and provide energy storage means when the sun doesn't shine or wind blow.
Not letting them off the hook of course, ARENA money could possibly accelerate the commercialisation process, or at the very least, significantly increase awareness of the system by providing the company with greater resources for promotion/application.
Just (in my view here) believe that the world is moving into a new relationship with renewable energy whereby only the most cost-efficient methods will survive as Governments are becoming wary of over-developing RE infrastructure if it means a glut of energy results. (Doesn't South Australia have too much wind energy now for current demand, for example ?)
Protean might very well set a new standard/change thinking in that respect by showing another way, and in the process further reinforcing it's advantages.
Cheers BC
POW Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
(20min delay)