Perth energy developer Protean Wave Energy has flagged global ambitions outside of its core tidal power business under new chief executive Stephen Rogers.
Rogers, the former Woodside Petroleum executive who joined Protean last month, has sent a bullish letter introducing himself to shareholders, in which he says the company needs to leverage its technical expertise and “consider other forms of energy production such as tidal, wind and potentially even solar.”
“Ultimately, we aim to provide energy that is suitable for the particular locations where we will operate and I firmly believe in our ability to innovate and develop smart technologies that will differentiate our Company,” says Rogers, who also says Protean should look for global opportunities.
The fledgling company is piloting its proprietary tidal energy technology in WA waters off Bunbury, announcing in July that it will install an additional two devices in its demonstration array. Protean is aiming to commercialise its technology in a project in the Maldives.
Satisfied by data from an independent review of the first Protean wave energy converter installed in May, Protean will proceed with initial plans to install three devices by the end of the third quarter.
The company, which was created through a backdoor listing of a former mining company called Stonehenge, also has some mineral assets and is developing a vandanium project with a Korean joint venture partner.
Vandanium is a key component in the development of energy storage battery systems.