The focus of the project is to reduce the diesel consumed by offshore fish farms, and subsequently reduce the amount of CO2 emitted by the industry. The project will demonstrate the technology and validate the economics of the system in an operational environment.
Since September 2020, Aqua Power Technologies hybrid system has offset 32,408kg of CO2, and Aqua Power Technologies is now on track for offsetting 500,000kg of CO2 by the end of 2021. Under the SIF programme, Aqua Power Technologies has proven the efficacy and economics of the system in real world operating environments and is now seeking commercial deployment opportunities.
Using the current diesel prices, the system developed under the SIF programme offers users a return on investment in under three years, and the potential to offset 120,000KG of CO2 annually. Further CO2 offset potential can be added by integrating Aqua Power Technologies wave energy converter, MANTA, with hybrid systems, which provides a diesel/battery/wave power solution to the offshore aquaculture industry, further reducing payback times and carbon emissions.
Aqua Power Technologies Ltd.