The Company’s stellar reputation is further reflected in it’s history working with the U.S. Navy with whom OCEES was awarded and completed Design phases 1 and 2 from 2003-2006 for a $ 250 million OTEC facility for the Navy in Diego Garcia to produce 8.3 megawatts of electricity and 1.25 million gallons of fresh water per day. It is beyond debate that the future global market for renewable energy and clean water will rival or surpass the largest markets ever previously known throughout economic history. OCEES is now ideally positioned to capture a significant portion of that market, which will translate into a multi-billion dollar profitable business.
OCEES’ economic future also shines brightly in a number of other OTEC spin-off technologies and ancillary markets such as the Company’s non-fossil-fueled Seawater District Cooling systems (SDC), which for many years was proven as a workable solution at NELHA. Beginning in 2010, three new SDC projects are anticipated to provide the Company’s customers an aggregate of approximately $ 23 million in cost savings during the first four years of operation. SEAWATER DISTRICT COOLING AND LAKE SOURCE DISTRICT COOLING (pdf)
The Company can also use OTEC technology to provide renewable energy opportunities wherever waste heat is available, such as from nuclear and other power-producing facilities. The waste heat market is virtually unlimited because the technology can be applied literally anywhere in the world. Aquaculture associated with deep cold pathogen-free ocean water is another potential ancillary industry by which OCEES may profit. Recent data indicates that, around the globe, at least 65 countries and 35 territories can successfully utilize land-based OTEC facilities for their power needs. Long-term, OCEES plans to also produce renewable energy for transportation needs through large-scale production of hydrogen, through electrolysis generated by its OTEC facilities worldwide.