Our business strategy involves pursuing two primary applications of our technology. The first application will be the seaside lunar version, which will use large vessels and ships and will focus on developing a customer base that consists of port authorities, municipalities, naval stations, and eventually, utility companies. We will also eventually pursue an application that will use river locks and channels with a controlled tide system to lift and lower LPSMs. This application will result in utility scale renewable electricity that is baseload and capable of replacing nuclear and fossil fuel generation. The second application is to use the landlocked version of our technology for bulk energy storage, and to pursue a customer base consisting of compressed air energy storage companies, wind and solar farms. This application can increase the capacity of existing Pumped Stored Hydro stations, and increase the efficiency of compressed air storage technology.
We will maintain a small company servicing a large market by licensing our technology and continuing to develop innovative designs and equipment in the nautical torque field of renewable electricity generation. As a small company, we will develop and promote our technology to the point where its feasibility and scalability are beyond doubt, thereby capitalizing on the global demand for renewable cost effective energy. We have recently been granted a U.S. patent and will continue to file supplemental patents as our R&D continues. Once a utility scale operation is up and running, we can promote our technology throughout the world and sell licenses to all interested entities.