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TWEFDA is bringing the first single energy machine in the market providing dual complementary functions of Generation or Storage on demand for each function.
About
TWEFDA is reimagining the renewable energy sector with a business that places Planet and People at its core, underlining what truly matters to our society. We're bringing together all stakeholders in a cooperative project, fostering a sustainable ecosystem where marine wildlife can flourish. With our device that manipulates Weight Changing Energy, we're transforming energy generation and storage on demand, bringing the potential to revolutionize the entire Marine Renewable Energy sector. Our all-in-one solution comprises four machines working together, housed within an Energy Management and Control environment, promising dynamic flexibility within a collaborative framework.
Key Benefits
Our short-term market are wave and storage developers. Wave developers could enhance the production of their devices by incorporating some of our technologies. We can do a consultation project with the implementation of our technology and wave developers will bring more power out of their devices.Storage providers could bring a fully sustainable form of storage both in the ocean and in land, with no need of rare elements and with an external eye assessment of the state of charge. The solution is especially suitable for places without recycling facilities, such as some regions in Africa.
Applications
According to the FANBEST (Funding Atlantic Network for Blue Economy Technology Transfer), the ‘blue’ economy represents roughly 5.4 million jobs and generates a gross added value of almost €500 billion a year.According to the Carbon Trust , flexibility is what we need to achieve the 2050 goals in a cost-effective way. As mentioned by Andrew Lever in the video report investing in flexibility is a 'no regrets' decision worth £16.7B/year across all the scenarios analysed for 2050, just in the UK.According to the International Energy Agency , global renewable energy capacity is expected to grow by 2,400 gigawatts (GW) over the period 2022-2027, an amount equivalent to China's total power capacity today.According to EASE - The European Association for Storage of Energy has estimated that the European Union requirements for energy storage are approximately 200 GW by 2030, and 600 GW by 2050 (of which over two-thirds are a no-regret option for energy shifting provided by power-to-X-to-power technologies). Current market trajectories for storage will fail to meet these requirements if urgent measures to boost deployment are not taken now. Yet, energy storage is an essential component for enabling renewables integration and establishing a secure, low-emission and affordable energy system.A single machine should be a generator OR a storage device simultaneously to meet flexibility but, up to now, there is not such a machine in the market. This is the problem we are mainly addressing.Delivering net zero represents, by 2050, 22 gigawatts (GW) of Wave Energy in the UK, and 235 GW globally. The market for renewable energy sources is expected to increase 50% , and this market is expected to grow by 1,200GW from 2020 to 2025. This is the equivalent of the total electricity capacity of the United States of America.The global Wave and Tidal Energy market was valued at $212.7 million in 2016, growing at a CAGR of 42.5% over the period 2014-2026 reaching some $10.5B at the end of the period.The Energy Storage market size in 2018 was $71.83bn and the CAGR is 20.18% until 2026 which means reaching a figure of some $312.5B at the end of the period.The TWEFDA Association also works as an integrated Energy Management and Control system providing flexibility in a collaborative scheme, providing benefits not assessed in any forecast, simply because the TWEFDA Association with its dual capacity of Generation or Storage sits in a unique place that has not been explored, to date.Our design is also taking into account the larger size of the storage market to maximise profit. According with the growth of the global energy storage market report from Wood Mackenzie, the global energy storage deployments will nearly triple year-on-year, reaching 12 GW/28 GWh on 2021 and close to the 1TWh mark by 2030..