commercial in confidence tidal solutions company Nova Innovation Tidal Solutions Company SME Instrument Case Study 23 June 2015

commercial in confidence tidal solutions company Presentation outline Background to Nova Innovation Our SME Instrument project SMEI application and project process Questions

commercial in confidence tidal solutions company Nova Innovation: Introduction Nova Innovation design, build, deploy and operate tidal turbines Our differentiators: technology; strategy; delivery – countercultural Our goal is to be a world-leading tidal energy technology company

commercial in confidence tidal solutions company Nova Innovation: Overview 2010: Started trading, based in Edinburgh, Scotland – Satellite offices in Shetland and Belgium (new) Owned by four directors – Experienced – strong industrial, utility and research track record – Years of tidal experience (previously assessed competitors devices) 18 employees plus contract staff Full design, build and deploy experience – “water to wire” Successfully delivered the world’s 1st community tidal project On track to deliver the world’s first tidal array in 2015 Aim: be a world leading supplier of tidal energy devices

commercial in confidence tidal solutions company Global tidal power market Massive global market Source: Carbon Trust Green Growth (2011) Forecast – 2050 Global capacity13 – 52 GW UK capacity4 – 9 GW Global market£2 – 8 billion Forecast – 2030 Global capacity2 – 6 GW UK capacity1 – 2 GW Global market£0.7 – 2.2 billion

commercial in confidence tidal solutions company Nova Technology

commercial in confidence tidal solutions company The Shetland Tidal Projects Nova M30 turbine Commercial contract Grid connected Grid-edge energy solution World first in 2014

commercial in confidence tidal solutions company Turbine scaling in the wind industry Source: IEA technology perspectives 2008, Nova Innovation 2015

commercial in confidence tidal solutions company The Shetland Tidal Projects Nova M100 Shetland Array Deployment in kW x 5 = 0.5 MW array Construction at advanced stage Test bed for tidal resource assessment and modelling Integrated storage solution

commercial in confidence tidal solutions company Research Projects SME Instrument Phase 1: Direct Drive Tidal Turbine Feasibility Study – Builds on years of research: SMART award, Renewnet fellowship & KTP – Improved reliability and efficiency of tidal turbines – 20% reduction in lifetime cost – Increased returns for our clients Scottish Enterprise WATERS3: Direct Drive Full Scale Demonstrator InnovateUK: Energy Storage (Nova REStore)

commercial in confidence tidal solutions company Direct Drive turbine evolution SMART Technical feasibility study Prototyping KTP Machine design optimisation Electrical, structural, thermo-fluid EU SME Phase 1 Commercial feasibility study Business case and strategy WATERS 3 Demonstrator DD Turbine Offshore deployment EU SME Phase 2 DD Turbine array & storage Base load tidal KEF Develop machine design tools Electrical, structural, thermo-fluid

commercial in confidence tidal solutions company Thoughts on the SME Instrument Process Application process – Encouraged by Jane Watters, Enterprise Europe Network! – Very straightforward application – for a mature idea Grant preparation – Well guided by EASME project officer (Gregor Novak) Actual project light on process – Ideal – we get to focus on the project Coaching – Early engagement of coaches beneficial – Growing database of accredited coaches

commercial in confidence tidal solutions company Questions Gavin McPherson Business Development Manager Nova Innovation +44 (0)