Hann-Ocean Energy participated in the World Future Energy Summit 2018 in Abu Dhabi on 15 - 18 January 2018.  During these four days, our booth has been occupied by many delegates and pre-arranged meetings to explore collaborations and procurements for Drakoo from all over the world.  Some are very keen to learn more about the Drakoo technology while the others are eager to know the initial investment, the maintenance costs, the costs of electricity and the feasibility of the implementation in their regions. 

Amongst these delegates, one Chinese company in nuclear power business is interested in exploring the Drakoo application potential to diversify their local energy sources with wave energy.  Another Moroccan company wanted to pursue with the Drakoo applications for fish farm communities, and at the same time to promote our Rigifloat platform technology together with Drakoo technology for high-end floating tourist attractions/entertainment hubs/water sports facilities.  The Ministry of Environment and Energy of Maldives invited us to visit the Maldives and conduct a site survey and the feasibility study. While Hann-Ocean recognised the promising opportunities in starting off pilot projects in these regions, the visiting delegates were also eager to understand the potential of wave energy resources in the selected sea spaces and the possibility of forming partnerships to develop the new renewable energy markets.  A governmental official from Micronesia expressed his intent to organise a group trip to our China factory to witness the Drakoo testing and production lines and to discuss the pilot projects in his country.  Many attendants also indicated strong interests to become our market representatives in their specific regions/countries/cities.

During the exhibition and the two speeches given in the Efficiency Theater and Solar Theatre, the Drakoo live-demonstrations were performed over the internet successfully and won a few rounds of applause followed by contact exchanges and further discussions. Our MD Mr Han also attended the roundtable discussion namely “Renewable Energy Investments in Southeast Asia" organised by the International Renewable Energy Agency (IRENA) and the Energy Market Authority of Singapore (EMA). The discussions highlighted that, for the region to reach its target of securing 23% of primary energy from renewable sources by 2025, annual investment in renewables needs to reach USD 27 billion, which represents a ten-fold increase from the current levels. Mr Han addressed that being a highly efficient, versatile and scalable alternative renewable the Drakoo wave energy technology could likely fill up of the gap of 5.5% between the current forecast of 17.5% and the regional target of 23% if adequate governmental supports and relevant financing schemes are available.

To materialise the fruits of the exhibition and meetings, we shall follow up closely with the governments, companies and individuals to implement pilot projects and expand our Drakoo market swiftly.