Embley Energy, a UK-based clean and renewable energy source, is now seeking £1.5 million through its new equity crowdfunding campaign on Crowdcube for its SPERBOY device. According to Embley Energy, the SPERBOY device has the ability to generate large amounts of energy through wave power.
“The SPERBOY device is based on an oscillating water column, and floats on the water using waves to create energy. Its ability to generate huge amounts of energy from waves that are moving day and night is unparalleled. Creating no pollutants and simple to operate, SPERBOY™ is an environmentally friendly method of creating energy.”
While sharing more details about the investment round, Managing Director Michael Burrett, one of the minds behind SPERBOY, stated:
“It is rare that an opportunity of this magnitude is open to the general public and smaller investors, generally being the domain of the large corporates and investors.”
Professor Donald Swift-Hook, Director and Secretary to the Board of the World Renewable Energy Network, also shared:
“Embley’s performance to date is outstanding. Their modelling experiments, backed up by extensive computations, indicate that their generation costs will be as low as 6.9 pence, which matches the best results to date for other renewable energy resources such as wind and solar and is cheaper than coal, gas or oil generation and far cheaper than nuclear.”
Funds from the Crowdcube round will be used to move Embley Energy into its next phase of development. The capital raised will be used to fund a detailed SPERBOY design and specification, further wave tank trials, energy production projections and resulting cost of energy for a commercial prototype. The funding round is set to close at the end of April.
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