With Bombora’s mWaveTM technology and project development experience, MOL will work to minimise the environmental impact of its business activities and aim to achieve sustainable net-zero GHG emissions, bringing its expertise accumulated in offshore business such as marine consultation, operations, and its knowledge of the regional supply chain to the joint study. The rapid growth of the marine renewable energy sector represents a new opportunity for MOL, and it is anticipating there will be a significant demand for vessels involved in the construction and ongoing operations across the marine energy sector. The collaborative project with Bombora will contribute to mitigate its environmental impact whilst driving new and sustainable business growth opportunities across the region.

MOL continually promotes and expands its “environmental and emission-free businesses” for sustainable society all over the world.

(*1) Bombora
Bombora has developed a membrane style wave energy converter. The 1.5MW Demonstration Project of the converter in Wales is in the final assembly phase and is scheduled to be installed in mid-2021. Part of the project cost was funded by the European Regional Development Fund (ERDF) through the Welsh Government. For further information, please visit Bombora’s website : www.bomborawave.com

(*2) mWaveTM
A membrane style wave energy converter developed by Bombora is located 10 meters beneath the ocean’s surface, similar to a fully submerged reef. The Fixed Bottom mWaveTM is completely invisible from the shoreline. As ocean waves pass over mWaveTM, the membranes deflect, pumping air through a turbine to generate electricity. Electricity is directly transferred to shore via a submerged cable. mWaveTM is unique among wave energy converters as it simultaneously addresses the ‘cost of energy’ and ‘ocean wave survivability’ challenges.