ATMOCEAN, INC. ADVANCES OCEAN WAVE ENERGY TECHNOLOGY

Wave energy company is raising $600,000 on Indiegogo to deploy its commercial wave energy system in Peru next Spring.

How it works: The idea behind wave energy is to harness the kinetic motion produced by the motion of waves. Philip Kithil’s system, seen in this rendering uses a set of buoys that convert wave energy into pressured water, which then powers a set of turbines. Courtesy Atmocean
How it works: The idea behind wave energy is to harness the kinetic motion produced by the motion of waves. Philip Kithil’s system, seen in this rendering uses a set of buoys that convert wave energy into pressured water, which then powers a set of turbines. Courtesy Atmocean

SANTA FE, NM, USA, September 16, 2014 – Atmocean, Inc. today announced the launch of its crowdfunding campaign on www.Indiegogo.com. The company intends to raise $600,000 that will enable deployment by Spring 2015 of its first commercial-scale wave energy system in the Pacific Ocean north of Lima, Peru. With its exposure to steady waves originating from Antarctica, Peru’s coastline is ideal for the Atmocean technology. Peru also offers expedited permitting, and low costs of manufacturing and operations.

The Atmocean wave energy system is unique in that each array of fifteen seawater pumps located 2 miles offshore produces pressurized water transmitted in a seafloor hose to the onshore turbine operating a generator. This design is very low cost – about $500,000 per megawatt of rated capacity – and thus is economic even without government subsidies, delivering electricity for about 6 cents per kilo-Watt-hour (kWh).

In addition to producing clean, renewable electricity from ocean waves, the pumped seawater can be filtered to remove plastic debris which is now understood to be a major source of pollution in the world’s oceans. Other end products of the Atmocean wave energy system include fresh water from desalination, and ice for commercial fishing.

Once the first system is operating, Atmocean and its Peru manufacturing partner Tecnolog S.A. intend to double the number of new systems each year, reaching up to 1 gigawatt of installed capacity by 2025, providing a significant percentage of Peru’s electricity from clean, renewable ocean wave energy. Peru, whose economy is growing at 5 percent per year with low inflation, needs more renewable energy to lessen the impact of fossil fuel mining in its Amazon rainforest. According to Chris White, Project Manager for Atmocean in Peru, “With this effort, we’re see a real chance for Atmocean to act as a catalyst for the implementation of wave energy on a global scale”.

For more information please contact Atmocean CEO Philip W. Kithil at atmocean.kithil@gmail.com; Project Manager Chris White at atmocean.white@gmail.com; visit http://www.atmocean.com; or view the Atmocean crowdfunding campaign at http://igg.me/at/atmocean.com/.
Media Contact:
Philip Kithil
Atmocean Inc
Tel: 505-310-2294
Email: atmocean.information@gmail.com
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