Benefits for Wales
MPS’ 1:4 scale WaveSub project was part-funded by the European Regional Development Fund (ERDF) through the Welsh Government, with MPS receiving over £3 million in grant support which has largely been spent in Wales. MPS is supportive of creating a Welsh marine energy supply chain, with many of its suppliers for this operation and the full scale WaveSub being based in Wales and therefore feeding into the local economy. The WaveSub benefits from being able to be towed significant distances; MPS therefore see a significant opportunity for the manufacture and commercial rollout of devices from Wales. This will create a substantial export opportunity, with MPS establishing itself as a long-term sustainable business creating highly skilled jobs in a range of disciplines.