Floating Power Plant has signed a grant agreement with the European Commission's Innovation Fund of 26 million euros to progress the development of its SEAWORTHY project.
SEAWORTHY, an acronym for "Sustainable dispatchable Energy enabled by wAve-Wind OffshoRe plaTforms with onboard Hydrogen, integrates floating wind and wave resources to generate electricity while utilising excess power to produce and store hydrogen. The SEAWORTHY project, located off the coast of Las Palmas in the Canary Islands at the Plocan test site, aims to advance Floating Power Plant's technology from Technology Readiness Level 6 (TRL6) to TRL8. This progression will be realised through the development, testing, and operation of a demonstration platform on a commercial scale. The platform will incorporate a 4.3 MW wind turbine, 0.8 MW wave energy converters, electrolysers with hydrogen storage, and a fuel cell.