JEC COMPOSITES MAGAZINE - Issue #52 - October 2009 - 17

BUSINESS Trends Ocean energy: generating new business Based on the latest research and the trend observed over the past 20 years, global energy demand will almost double in the next 20 years. Demand may outstrip supply by as much as 18% by 2020. Ocean Energy may well be an answer. Gurit has decided to explore this new field. only increase if clean-burn technologies become commercially competitive. Nuclear power is sometimes heralded as the saviour to the energy gap but many experts are predicting that a uranium deficit is likely to emerge in a matter of decades. With a timescale of 10 to 15 years to build a nuclear power station, the short-term issue is blatant. Over 80% of electricity is currently generated by fossil fuels. Whilst fuel prices are currently low, it will not stay that way. Oil production is expected to peak in 8 years and gas in 30 years. Sharp price rises are inevitable before the peaks. Renewable energy, whilst not being the overall solution to the potential energy shortage, can at least significantly contribute to bridging the coming energy gap. Existing technologies such as wind or solar energy will see continued long-term growth. However, they both depend on the atmospheric conditions at any given time. Tidal power generators will provide predictable power and can thus contribute to the grid power baseload. It is with the designers and developers of these devices that Gurit is defining its strategy to build a new business. Depending on the design concept, the amount of composite materials in an ocean energy device varies considerably, perhaps from 5% to almost 95%. By targeting developers who we believe have strong intellectual property from the earliest opportunity, we can not only create longterm, successful alliances but also become an enabler for device developers and build a significant, sustainable market for Gurit products and services. THOMAS ROYLE, HEAD OF GURIT STRATEGIC BUSINESS DEVELOPMENT, GURIT [UK] LIMITED Open Hydro. Ocean energy is part of the solution For renewable energy to become a significant continuous and long-term contributor, a diverse portfolio of technologies will be required. Ocean Energy includes power extracted both from wave motion and tidal streams and is estimated to have a practical recoverable capacity of approximately 5 times the current installed wind capacity. Industry experts and independent government research predict a Open Hydro technical centre. The approaching energy gap Coal reserves are sufficient to last until the end of this century but the use of coal can No52 October 2009 / jec composites magazine Credit: Open Hydro, Marine Current Turbines Ltd urit Strategic Business Development is a small team tasked with researching, selecting and building long-term new business for Gurit that does not fit into any of their existing focus markets. The team, based in Newport on the Isle of Wight, UK, has just announced their first target: ocean energy. G

JEC COMPOSITES MAGAZINE - Issue #52 - October 2009

Table of Contents for the Digital Edition of JEC COMPOSITES MAGAZINE - Issue #52 - October 2009