A Hauppauge energy company riding the waves of a leading-edge clean-gen technology is closer than ever to a critical pilot project in the waters off the Philippines.
But with a signed letter of intent from one of the Southeast Asian island country’s largest utility companies to provide up to $600,000 to the cause, Brimes Energy still needs about $400,000 in working capital to proceed with its ambitious plans.
That’s the breakdown from CEO Ramuel Maramara, a native Filipino who continues to make inroads with the Philippine Energy Regulatory Commission and that corporate partner, which has invoked a confidentiality agreement that prevents Maramara from naming names (though he did tell Innovate LI the company is “one of the biggest” in the nation of 7,000 islands).
“They already have a 3,000-gigawatt capacity,” Maramara said. “And they want to explore ocean-wave energy as another source.”
Enter Brimes Energy, a member of Stony Brook University’s Clean Energy Business Incubator Program, and its “artificial jellyfish” wave-energy device, an update of the gyroscopic Salter’s Duck, which is still considered by many in the field to be the best of a poor selection of wave-energy power generators...