Talk by Andrew Parish, CEO of Wavebob, from Ireland, at Stanford Engineering, January 11 2010

1. Powering the future Andrew Parish CEO January 2010

2. “... and I sensed a loud infinite scream passing through endless nature.” * Edvard Munch: Skrik (The Scream of Nature), 1893 Diary notes 1892

3. Why Innovate? I =PxAxT Impact Affluence Technology Population Capitalism at the Crossroads, SL Hart ‘04

4. Why Innovate? “ Innovation is the specific instrument of entrepreneurship …. the act that endows resources with a new capacity to create wealth.” Peter F. DruckerChief US Innovation Advisor

5. The global demand for renewable energy is unquestionable... Source: SAR imagery . Global mean significant wave height (metres) in January ... and ocean wave energy forms an immense and yet un-tapped resource of renewable energy...

6. Market opportunities drive innovation Patents in wave energy technology Oil price

7. Creativity “Good times will come and go, but one thing is certain. The person who knows how to create good, new ideas and turn them into realities is the one who will prosper no matter what the future brings.” LeBoeuf 1980

8. Only a handful are facing reality…

9. Reality Survival – Survival - Survival

10. Our company Mission to be the leading wave power technology company Established in 1999 10 years of research and successful sea trials Funded - ‘4 F’s’ - industry partners, strategics Currently one of top technologies in wave energy globally Subsidiaries in key-markets: Ireland, UK, US 10

11. Wavebob product development Build a little; Test a little; Learn a lot! Calculate; Design; Simulate; Test; Verify;… Fail early; fail often; learn quickly..

12. Our product Wavebob technology is unique and protected by two families of patents covering our global key markets (45 countries).

13. Our approach Market Pull Best Partners Best Plan Best People PhD MBA Marine Open Innovation Systems Engineering Values Excellence – Commercial – Partnered – Innovative - Respect Commercialisation strategy IP Innovation Winning technology 13

14. Our partners Research Technology Open innovation Funding Strategic customers International network

15. Connect & develop.. “Collaboration and a company's ability to leverage the collective knowledge of a community will be the keys to future prosperity” -Economist Intelligence Unit “The EU policies of developing research for the global knowledge based economy focus increasingly on collaborative research” -EC FP7

16. Open Innovation and FP7 Formalises collaborative efforts Requires international approach Significant budget Pragmatic Target driven

17. Wavebob - STANDPOINT Three year FP7 funded project 250kW grid connected in Portugal Commenced November 2009 €5.1m EC contribution Focussed on demonstration of best practice in design, deployment and operation

18. “Those who say it cannot be done, should not interrupt those already doing it” Chinese proverb www.wavebob.com