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Ocean Thermal Energy Corporation (CPWR) |
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Ocean Thermal Energy's Comment on Competitors and Industry Peers
We compete in the development, construction, and operation of OTEC and SWAC plants
with other operators that develop similar facilities powered by other energy sources,
primarily oil, natural gas, nuclear energy, and solar power. These traditional
energy sources have well-established infrastructures for production, delivery,
and supply, with well-known commercial terms. In developing our OTEC and SWAC
plants, we will need to satisfy our customers that these technologies are sound
and economical, which may be a challenge until and unless we have an established
successful operating history. The energy industry is dominated by an array of
companies of all sizes that have proven technologies and well-established fuel
sources from a number of suppliers.
We expect that we will encounter increasing competition for OTEC and SWAC plants.
Other firms with greater financial and technical resources are focusing commercialization
of these technologies. This includes, for example, Akuo Energy and DCNS (now Naval
Energies), which were funded to construct and install a number of OTEC plants
adding up to 16 MWs of power generation outside the coastline of Martinique in
the Caribbean, and Lockheed Martin, which has recently designed a 10-MW OTEC plant
and has partnered with China-based Reignwood Group, which intends to build the
plant in Hainan, China.
Our competitors may benefit from collaborative relationships with countries, including
a large number of Caribbean nations that now have renewable energy standards,
and are looking at ways to reduce their carbon footprint, decouple the price of
electricity from the volatile price of oil, and increase energy security. Other
competitors may have advantageous relationships with authorities such as Hawaii,
U.S. territories, and the U.S. Department of Defense, which are looking at OTEC
as a possible source of renewable energy and water for drinking, fish farming,
and agriculture.
We cannot assure that we will be able to compete effectively as the industry grows
and becomes more established and as OTEC and SWAC plants become more accepted
as viable and economic energy solutions.
We believe competition in this industry is and will be based on technical soundness
and viability, the economics of plant outputs as compared to other energy sources,
developmental reputation and expertise, financial capability, and ability to develop
relationships with potential customers. All of these factors are outside our control.
*Market share is calculated based on total revenue.
Who are Ocean Thermal Energy Corporation's Competitors?
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