The Amplified Wave Energy Converter

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EXECUTIVE SUMMARY

THE PROBLEM

The world is running out of clean water. Presently, worldwide demand for potable water exceeds supply by 10 billion gallons per day. In 2005, World Health Organization authorities estimated that approximately 16% of the world’s population -- over one billion people -- did not have access to safe drinking water. Worse yet, 3 million people died during that year due to a lack of clean water. Over the next 10 years the United Nations and World Bank independently estimate that, because of population demand and environmental contamination, 40% of people on earth will not have access to potable water. In addition, rising energy costs will continue to make processing and delivery of existing water supplies more expensive. Ismail Serageldin, former Vice President of the World Bank predicted: “While the world’s population has tripled, water demand has sextupled. If the wars of the past century were fought over oil, the wars of this century will be fought over water.”

THE BUSINESS

Ocean Energy Systems (OES) has been organized by its founders to develop and commercialize products that will help reduce this water deficit. OES’s initial product -- The Amplified Wave Energy Converter System (AWECS) -- is a self-contained, transportable desalinization plant that uses ocean wave energy to safely, reliably and inexpensively desalinate and purify ocean water. The AWECS (patent applied for) uses a high percentage of commercial-off-the-shelf components and is designed to operate in harsh ocean environments, including 100 year storm conditions. Each AWECS is expected to produce 250,000 gallons of potable water per day, at a projected shore-side price of $2.53/1000 gallons. The AWECS, designed for a 20-year operating life, with appropriate maintenance and will be superseded with newer designs, materials and technologies every second decade.

OES plans to commercialize the AWECS for worldwide distribution and, because of the size of the potable water deficit, the market can be considered almost infinite and growing. The majority of OES’s customers are expected to be government agencies, islands, disaster relief organizations and humanitarian operations. Additionally, the AWECS will be marketed to environmentally friendly businesses (e.g., eco-tourism resorts) and commercial operations where delivery of clean water is prohibitively expensive or logistically impossible.

OES is owned and operated by Robert Murtha, Brian Cunningham and Dr. Michael McCormick -- its three founders. Bob, Brian and Mike collectively represent a unique, synergistic blend of over 100 years of business, entrepreneurial, academic and engineering design experience. They are committed to developing high quality, innovative and value based renewable energy products to help alleviate the potable water and energy crisis in America and around the world. (See Biographies)