Ocean Renewable Energy at a Critical Juncture, Says Pike Research

BOULDER, Colo.--(Business Wire)--
The earth`s largest water source, the ocean that covers three-quarters of the
planet, has yet to be tapped in any major way for electricity
generation.However, dozens of technology companies and project developers are
now striving to change that, working to make hydrokinetic power the next hot
renewable energy sector.

More than 300 projects are currently in the pipeline around the world, and a new
report from Pike Research forecasts that this nascent industry will grow to
provide 2.7 gigawatts of power generation capacity by 2015, up from just 264
megawatts in 2008.But the future of ocean energy beyond this initial phase is
highly uncertain.If the sector really takes off, Pike Research estimates it has
the potential to provide up to 200 gigawatts of generation capacity by 2025.But
if key challenges are not faced successfully, marine renewable power could be
relegated to niche status.

"The next five years will be `make or break` for the ocean energy business,"
says industry analyst Peter Asmus."Each of the five major marine energy
technologies remains unproven beyond small pilot projects.Other challenges
include regulatory uncertainty, shortage of capital for project development, and
lingering environmental concerns."

During this formative period for the industry, adds Asmus, some of the key
players to watch are:Aquantis, Marine Current Turbines, Ocean Power
Technologies, Ocean Renewable Power Company, Oceanlinx, OpenHydro, Pelamis Wave
Power, and Verdant Power.

Pike Research`s study, "Hydrokinetic and Ocean Energy", assesses the market
opportunity for five main types of marine and hydrokinetic energy
technologies:ocean wave, tidal stream, river hydrokinetic, ocean current, and
ocean thermal.The report includes an examination of business drivers, regulatory
issues, implementation challenges, and the competitive landscape, along with
detailed market forecasts for each technology through 2015.An Executive Summary
of the report is available for free download on the firm`s website.

Pike Research is a market research and consulting firm that provides in-depth
analysis of global clean technology markets.The company`s research methodology
combines supply-side industry analysis, end-user primary research and demand
assessment, and deep examination of technology trends to provide a comprehensive
view of the Renewable Energy, Clean Transportation, Clean Industry, Green
Consumers, and Environmental Management sectors.For more information, visit
www.pikeresearch.com or call +1.303.997.7609.

Pike Research
Clint Wheelock, +1-303-997-7609
press@pikeresearch.com

Copyright Business Wire 2009