Development Path and U.S. Funding Chief Technical Officer The “OE Buoy” Development Path and U.S. Funding Prof. Tony Lewis Chief Technical Officer Ocean Energy MRIA Forum 3rd February 2017 www.oceanenergy.ie 1

Background Wave energy is the renewable energy sector’s compelling new opportunity. Our company OceanEnergy is best position to deliver on it now – with the proven technology “OE Buoy”. 2

Umbilical Grid Connection The Device “OE Buoy” on-station 3 Mooring Points Wave Direction Umbilical Grid Connection

Development Protocol ???? WETS Hawaii Testing in Ireland LIR-NOTF ECN France LIR-NOTF Ireland Galway Bay Ireland WETS Hawaii ???? Using the US wind power sector as a model, there are currently 3 jobs for every mega watt of wind power generated In Ireland, wave energy has generated 1.5 jobs for every mega watt power created Testing in Ireland

ECN, HMRC2 1:15-Scale Device UCC, HMRC1 1:50 -Scale Device The Path TRL 1-2 TRL 3-4 TRL 5-6 TRL 7-8 COMPLETED STAGES       Near Full Scale Device         Live Sea Trials 1/4 Scale Device     ECN, HMRC2 1:15-Scale Device UCC, HMRC1 1:50 -Scale Device       2001 2003 2005   2006   2013 2014 2018 1. University College Cork, Ireland – Hydraulics & Maritime Research Centre 2. École centrale de Nantes, France – Hydraulics & Maritime Research Centre

US Navy Wave Energy Test Site Hawaii Test Site - WETS US Navy Wave Energy Test Site 6 6

Project Summary Location: US Navy Test Site Hawaii Device: 35m Floating OWC Device Rating: 500kW Significant Project Partners: US Navy US Department of Energy Dresser-Rand Ocean Energy Black & Veatch Revision Consulting NASSCO / General Dynamics Ben C. Gerwick 7

The Device OE35 Device for Demonstration in Hawaii Lightship weight 690 tonnes LOA 37.4m Moulded breadth 18.5m Draft 10m Yellow is above water and brown is below water

Partners Memorandum of Understanding to Develop Marine Technologies between the Governments of Ireland and the United States

Summary of Technology Development Improvements: B2D2 Improvements: OE Buoy STAGE 1: 1:50 STAGE 2: 1:15 OE Buoy OE Buoy Sea Keeping STAGE 3: 1:4 Sim. PTO: Orifice Plate PTO #1: Well’s Air Turbine PTO #2: Impulse Air Turbine STAGE 4: 1:1.25 OE Buoy HydroAir Turbine 10

US Dept. of Energy Funding Recipient & Project Details Funding$ m Recipient & Project Details 1 OE USA; Device Optimization 5 OE USA; Wave Energy Test Site US Navy Hawaii 2 Dresser-Rand/SIEMENS; 500kW PTO WETS 3 Re-Vision Consulting; Control Optimization Dresser-Rand/SIEMENS; 1 MW PTO $16m DOE Funding Total 11

US Dept. of Energy Funding – The Process No. Activity 1 Funding Opportunity Announcement (FOA) 2 Concept Paper (where applicable) 3 Full Application 4 Reviewer Comments 5 Response to Reviewer Comments 6 Selection for Award 7 Contract Negotiations with DOE 8 Statement of Project Objectives (SOPO) Negotiation and Agreement 9 Quarterly Project Reports – Milestones and Deliverables 10 Annual Peer Review 11 Go/No-Go at end of Budget Periods 12 Final Project Report and associated deliverables 12

1MW Turbine Repowering Deployed 2018-2019 Using the US wind power sector as a model, there are currently 3 jobs for every mega watt of wind power generated In Ireland, wave energy has generated 1.5 jobs for every mega watt power created

END Contact: Tony Lewis CTO, Ocean Energy USA LLC tl@oceanenergy.ie www.oceanenergy.ie 14