Ann: Investor Presentation, page-24

I would also like to add that some numbers being provided here for cost of construction vs say solar or wind are not robust.

There are many factors involved in viable energy production at a large scale and pure peak design capacity numbers are almost irrelevant.

In the case of solar vs. wave, peak design capacity is one of the least important parts of the equation. While a 1.5mw Protean array vs. a 1.5mw Solar array both have the ability at peak to provide 1,500 kw of power to a grid (at source mind you - transmission is another huge topic), Solar only provides this for a small part of the day unless very complicated methods are used to tilt the panels etc. Are employed which significantly raises the cost. Also figures are being used based on PV Solar which is not quite an apples to apples comparison.

Wave is able to provide at least some power throughout the whole day therefore the supply design capacity is higher, and in the case of Protean there are some very good methods for storage and output regulation due to the generation method which greatly raises the supply efficiency.

Therefore Protean may have a delivery / supply design efficiency of say 60% vs Solar's 20%, which means the numbers should be factored accordingly.

I hope my posts are of some contribution to intelligent discourse.

My opinions only and DYOR.