Stage: Alpha (prototype)
Number of employees: 1-5
Investors: Ramuel Maramara
We are building the MicroJelly. A Jellyfish based ocean wave harvester with a very low $20,000 price tag - equivalent to a 12KW solar installation. This will be a world firsts and will prove the viability of ocean wave energy harvesting. If we succeed, we will be among the first to open up a whole new category. Solar, then wind and now marine.
We’re pivoting because of the recent success of our prototype
The Jellyfish is now capable of producing electricity, desalinate sea water or both.
Our product is the Jellyfish. It's a machine that harvests the energy of ocean waves and converts it into usable energy. We have recently reached 55% absorbtion efficiency. No other commercial wave technology has claimed efficiency numbers higher than this.
Wave energy has an available 30kW to 80kW per meter of coastline. To visualize this number, imagine a man walking on the beach parallel to the waves. For every step he makes, the available power in waves can provide electricity to 5-8 homes.
We also have a manufacturing facility in place ready to build the Jellyfish.
We are currently in talks for our in ocean testing pilot.
Our Market path. The Jellyfish technology will be available in two forms. The MicroJelly and the BigJelly.
All MicroJelly. We will ship the first commercial MicroJelly in 2-3 years. Starting price is $20,000. Target markets are the Microgrids and individuals with access to the ocean. These are fishing villages, marinas and green affluent individuals (high end models). The $20,000 price tag is aggressive but should benefit the most people (market penetration).
BigJelly is utility size Jellyfish. It is an open market today but deployments by other companies are getting more and more common especially in Europe and China. Target price s $4M for a 2MW BigJelly. Target price is $.20/ kWh. It will go down as the technology matures.
Our revenue projection makes that case. The MicroJelly allows us to have positive cash flow early on and at the same time, fully test the functionality and debug the Jellyfish before going BigJelly. With a number of players coming in, there is no doubt, this new category will open up in the next 5-10 years. Imagine, Solar 2011 capital spending is $86B, Wind is $95B. Wave will hit the same numbers. A whole new world.
Acceptance is KEY. Right now, peoples attitude towards the Jellyfish is pure joy. I anticipate some change in attitude so PR is all important. We need people to understand that this is still early and there are risks. Bitcoins approach is excellent. People let it make mistakes because it is new but more importantly because it has great promise. Just like the Jellyfish.
Unique format -0Multiple harvesting tails cover the most area and harvest the most energy from the sea.
"Ride the wave" Technology -We call the shifting centroid design. Energy harvesting from the complex wave motion of the ocean is actually a vibration problem. It's all mechanical engineering. Simulations and testing are similar to "mass tuned dampers" and "liquid tuned dampers". In other words, we look into the math of it first and test and design around that concept. Others approach is build it, let it float and lets see how much it gets. We do our homework first. (patent application on going)
"Super storm technology"-Ballasting and deballasting allow us to build wide and still easily survive extreme weather events. Others approach is build for the most extreme, once in a 1000 year event. The reason windmills today are so big and efficient is because they don't operate during extreme events. 2 innovations, locked rotor and variable pitch blades. They avoid operating in extreme events. Our "superstorm" technology does the same. We fill the ballast tank and let the Jellyfish dive underwater during storms. Float after it has passed.( Patent application on going)
MicroJelly - This is the key to acceptance by the whole world. Build small, build for the common people, for the fishing villages. Everybody loves to help. We make money on the higher versions for green residential market, being an alternative to solar because it has the same price.