Ocean
Array Systems has developed an algorithm that allows the effects of marine turbulence
on tidal stream turbines to be predicted from minimal, and in some cases already available,
sets of marine survey data.
We think that we have spotted a gap in the market: current offerings are either
computationally intensive, and/or do not reflect important aspects of the physics. Our
algorithms make our technology nimble but powerful, ensuring much wider application than
alternative techniques. We need to test our hypothesis to see if this market gap really exists,
and, if it does, whether it is under threat from other entrants.
We intend to conduct market research to investigate the size and value of the market and
explore alternative routes to market. We will conduct a competitor appraisal, in particular
looking at the threat of entrants from adjacent industries (eg the wind turbine industry). We
will extend our existing monitoring of academia, consultancies and device developers. We
will also map the intellectual property landscape.
This project will form one component of our business planning process. Our market research
is looking at the value of our technologies to potential customers. We will also do in-house
modelling of our costs, development time and funds required to get to market.