“Working offshore is notoriously difficult and exceptionally dangerous,” OPT President and CEO Philipp Stratmann tells Fortune. “The barriers to entry for maritime technology are just so much higher [than onshore technology].”
Stratmann is quoted in Fortune’s latest look into the alternative energy market, “Why wave energy upstarts are struggling to scale.” The article also includes input from Oscilla Power founder Balky Nair, Verdant Power founder and CEO Trey Taylor, Resolute Marine founder and CEO Bill Staby, and IDLF Investment Fund CCO and a former wave energy company executive Andrew Parish, among others.
It’s notable that Parish and Erin Blanton, a senior research scholar at the Center on Global Energy Policy at Columbia University, both note the need for increased government funding to boost the innovators of the Blue Economy. This echoes a sentiment expressed by Stratmann and Fathom5 CEO Zac Staples in a recently published Nextgov op-ed.
Fortune subscribers can read the full article here: https://fortune.com/2021/09/28/wave-energy-upstarts/