Our initial target market consists of Port Authorities, the US Navy, municipalities with seaside ports, private companies with huge power needs. Port Authorities already have vessels to serve as the LPSMs, the land, and the desire to increase their renewable energy portfolio. We are applying for grants, negotiating with various Northern California Port Authorities and reaching out to municipalities for letters of interest and demonstration projects.
The problem is that current renewable energy sources cannot replace fossil fuels as a consistent and long term energy source capable of meeting the world's growing energy demands. Nuclear and fossil fuel plants provide a consistent load of energy to the grid, so that the end users have 24 hours access. Wind, solar and other renewable provide intermittent spurts of energy to the grid and need to be supplemented by nuclear and fossil fuel power. Therefore, the construction of new nuclear power plants (with their high cost and nuclear waste bi-product) remains part of the discussion of how society should meet its growing energy demands.
With the recent landmark agreement between China and the US to reduce greenhouse gas emissions in China, Renewable energy is poised to become the mainstream. Emerging markets in Latin America, Middle East and Africa show increased investment and development opportunity. While North America faces challenges from a natural gas revolution, and Europe strives to meet 2020 targets, a base load renewable with an LCOD competitive with existing coal and nuclear power generation holds enormous market potential there, and throughout the world.