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Project acronym:AQUAGEN Grant Agreement no. 262315

Drafting date: 5-10-2010

SEVENTH FRAMEWORK PROGRAMME

FP7-SME-2010-1 Grant agreement for:

Research for SMEs

Annex I - “Description of Work”

PART A Project acronym: AquaGen Project full title: Development of cost effective power take off system for marine energy applications

Grant agreement no.: 262315 Version: Date of preparation of Annex I (latest version): Date of approval of Annex I by Commission:

10.0 5/10/2010 12/10/2010

A1 Project summary Abstract The group of SME participants in the AQUAGEN project aims to address a major market opportunity by developing a power take-off (PTO) system targeted at marine energy applications, enabling significantly improved reliability and efficiency of around 33%, and with a reduction of 25% in Operation and Maintenance costs, when compared with currently available solutions. Since it is a water-based PTO system, the risks of oil leaks in the ocean will also be fully eliminated. The system and components developed will have a broad range of applications, from wave energy, as the main application area, to water desalination and small hydro power generation, and will therefore benefit a European value chain of SMEs specialized in engineering and green energy generation. To achieve our objectives, we need to develop new scientific knowledge in: design of innovative system components such as a variable speed generator, an adaptive blade turbine, elastomeric structures and the overall hydraulic system; protective coatings for marine environments; modeling the ageing of elastomeric structures; and wireless controlled monitoring of offshore moving equipment. Due to the technical challenges of testing the system, there was a conscious decision to hold the activities of AQUAGEN during a 3 year period. Whilst the SMEs form a supply chain for the manufacture of the ultimate PTO system we have neither the facilities nor the resources to undertake the necessary R&D. The Research for SMEs funding instrument provides the ideal solution, allowing us to outsource the R&D to four RTD Performers – BHR, NTUA, UM and CMG. The Foreground Intellectual Property (FIP) generated in the AQUAGEN project will be owned and exploited by the SMEs, envisaging several market segments and a geographical distribution of non-exclusive licenses for markets outside Europe. The SMEs will benefit from sales and licensing of the FIP to profit €250million over a five year postproject period.

FP7-SME-2010-1

Page 1


Project acronym:AQUAGEN Grant Agreement no. 262315

Drafting date: 5-10-2010

A2 List of Beneficiaries

Beneficiary no. 1 (Coordinator) 2 3 4 5 6 7

Participant organisation name

Short name

Beneficiary Country Type

BHR BHR Group Limited IT Power Limited Dexa Wave Energy ApS National Technical University of Athens University of Minho Checkmate Flexible Engineering LLP Norsistemas

FP7-SME-2010-1

IT DX NTUA UM CMG NS

RTD SME SME RTD RTD RTD SME

UK

Date Entered Project 16/12/2010

UK Denmark Greece

16/12/2010 16/12/2010 16/12/2010

Portugal UK

16/12/2010 16/12/2010

Portugal

16/12/2010

Date exited Project

Page 2


157,415

Patent 100% ownership Sole license to DX for wavepower Own exploitation for other duties

Hydraulic system design

Adaptive blade turbine design

2

3

FP7-SME-2010-1

4

121,003

128,250

50% Joint Ownership with DX Sole license to DX for wavepower

Variable speed generator design

1

Patent and manufacturing methodology Joint ownership with DX, NS. Licensed to DX Exploitation only via DX Ownership in relation to funding contribution

99,859

Patent Ownership 100% Sole license to DX for wavepower

Elastomeric PTO system

Remuneration (€)

Type of Exploitation

(No)

Project result (description)

Project result

Participant No. 2 IT

221,839

Patent and manufacturing methodology Joint ownership with IT, NS. Sole exploitation by DX via license or sale with agreed royalties due to IT and NS. Ownership in relation to funding contribution

Page 7

192,396

69,058

99,859

Remuneration (€)

Sole Exploitation by DX for wavepower via sub-license or sale with agreed royalties due to IT

Sole Exploitation by DX for wavepower via sub-license or sale with agreed royalties due to IT 50% Joint Ownership with IT Sole Exploitation by DX for wavepower via sub-license or sale with agreed royalties due to IT

Type of Exploitation

Participant no 3 DX

Drafting date: 5-10-2010

A2.2 (NEF A5) The Project results including knowledge to be acquired by participants

Project acronym:AQUAGEN Grant Agreement no. 262315

Joint ownership with IT, DX License of EPTO condition monitoring technology to DX for wavepower Ownership in relation to funding contribution

Type of Exploitation

60,502

0

0

0

Remuneration (€)

Participant no. 7 NS


FP7-SME-2010-1

Total remunerations

1,579,046

610,510

0

Customised and marinised wireless monitoring system

7

Subtotal Remuneration

0

Integrated model of novel wave power generator

6

103,983

Protective Nanocoatings for elastomers for harsh environments

Joint ownership 50% with DX. Licensed to DX Exploitation only via DX

5

Project acronym:AQUAGEN Grant Agreement no. 262315

Page 8

Joint ownership 50% sole exploitation by DX via license or sale with agreed royalties due to IT Sole marketing rights and 100% ownership Sole right to license from NS for wavepower applications. Exploited by DX via License or sale with agreed royalties due to NS

Drafting date: 5-10-2010

861,567

38,019

136,412

103,983

Owned 100% Sole license to DX for wavepower. Own exploitation for any other applications

106,969

46,468

0

0


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