Climate KIC will build the world’s first Integrated Ocean Energy Marketplace, designed to address the lack of market demand for ocean energy in the Blue Economy (eg, coastal businesses, communities and industries). The goal is to increase awareness, provide access to ocean energy system providers, assure ocean energy is affordable, increase commercial projects and reduce development risk. The strategic purpose is to shift the industry paradigm from technology push to a market pull.
CSIRO estimates that wave energy alone could contribute up to 11% of Australia’s energy by 2050 (CSIRO). A need exists to bridge the chasm between ocean energy technology providers and Blue Economy markets seeking to reduce emissions and transition to sustainable energy solution. To date, energy from Australia’s oceans has been too often overlooked as an essential part of Australia’s energy mix because of significant barriers to demand.Go to website