Work Summary
The work planned and performed for this project during the Phase 1 of the SME Instrument aimed to a) gather the necessary elements to ensure market penetration of eForcis all over the world; b) check the technological feasibility and market viability of BeForcis and; c) make an informed decision regarding which other potential sectors should be approached next. Consequently, our project includes the following three main actions, as described in the proposal presented for the Phase 1 of the SME Instrument:
→ Action 1: A potential partner and client search and a market barriers study for eForcis, regarding the marine aquaculture, Data and AtoN buoy markets. This action was performed during month 1 and 2 of the project implementation.
→ Action 2: A technological feasibility study of BeForcis combined with a market study and a potential partner search. This action was performed between month 2 and 5 of the project implementation.
→ Action 3: A study of other potential sectors where eForcis and BeForcis could be of use. This action was performed between month 3 and 5 of the project implementation.
A qualitative research has been developed to analyse existing business opportunities for Smalle, which are understood as the existence of a potential demand for the concept being developed, namely, the buoy with a system of electric power generation from the movement of the waves for the feeding of sensors and equipment used in marine activities.During this research a wide range of stakeholders and companies all around the world have been contacted, interviewed and analyzed. Furthermore, many open sources have been consulted to gather the necessary data to assess our solution business opportunity. Among them: World Bank, European Marine Observation and Data Network, FAO, European Aquaculture Technology and Innovation Platform, Apromar.
Results overview
The implementation of the Work Planned above mentioned produced the following results:
Action 1: The results of the feasibility study have been very positive to verify the capacity of the eForcis to feed the batteries of Meteocean buoys, SMALLE initial target regarding data buoys. Considering the size of the AtoN buoys market, our company believes this niche should be approached if eForcis is mass manufactured at a cost that allow reasonable margins. A strategy for AtoN buoys segment would be to license the technology and release manufacturing process to one or more of the big and relevant players of this market, as they have well optimized manufacturing process for their buoys, which could include the mass production of the eForcis at a very competitive cost.
A contingency plan for expected market barriers has been drafted and includes the increase of potential providers, a new financial option through yearly payments and trust-building with market leaders.
Action 2: The technology feasibility study demonstrated that the current eForcis can generate enough to power the sensors of the buoys and decrease the frequency that batteries need to be changed. SMALLE has defined the basic features of the buoy that has to support the eForcis and the first BeForcis has been built. The current BeForcis first test in a real environment shown that power production required for fish farms can be achievable by increasing size of the eForcis and the supporting buoy parameters. Marine finfish aquaculture species segment represents not only the major energy consumer of the market but also the one we will look at in order to commercialize the BeForcis. In addition, although some barriers have to be overcome in order to convince the market with a new marine energy product, the trend towards a high-tech aquaculture sector widens BeForcis business opportunities.
Action 3: For SMALLE acknowledging other potential sectors besides data buoys and marine aquaculture is essential to develop a strategical business plan. Consequently, with this study we have detected that Wi-Fi and marine surveillance for touristic places, plague detection and drones for offshore windmills could be further applications for eForcis and BeForcis. Yet, they are still not mature enough today. However, the market trends show it is likely they will become feasible applications in the mid- long term. In addition, applying the eForcis technology to sailboats is also considered by our company if our device is adapted. Also, partnership with a sailboats designers and manufacturers would be needed to integrate the eForcis technology in the sailboat structure, studying possible effects on its stability.
Results exploitation and dissemination
The results of the work conducted will be used to prepare the product for commercialization.