Australian wave energy technology developer, Protean Wave Energy, is eyeing tidal energy as a potential sector to dive into in the future.
Namely, in his letter to shareholders, the company’s new CEO and Managing Director, Stephen Rogers, said that he had started to develop a long-term vision and strategy for the business, taking into account the progress towards commercialisation of the Protean wave energy converter (WEC) and the positioning of the company.
Rogers said the strategy is focused on the best way to bring Protean’s technology to market whilst simultaneously optimising the company’s broader opportunity in the new energy sector.
“As we cement our strategy and grow the business, we will leverage our technical expertise to consider other forms of energy production such as tidal, wind and potentially even solar power,” Rogers said.
“Ultimately, we aim to provide energy that is suitable for the particular locations where we will operate and I firmly believe in our ability to innovate and develop smart technologies that will differentiate our Company.”
With a large number of opportunities for renewable energy around the world, it is necessary for the company to explore them in order to grow into a broad provider of clean and affordable energy, Rogers said.