The Asian Development Bank’s Marine Aquaculture, Reefs, Renewable Energy, and Ecotoursim for Ecosystem Services (MARES) program culminated in a High Level Investor Forum, which took place in Malaysia February 7, 2023. The forum focused on best practices for the Blue Economy and ocean energy.
The MARES concept is illustrated in the graphic below, which includes OTEC, deep ocean water use, desalination, etc.
During the first Plenary, Rear Admiral Nick Lambert (Retd) presented the concept of multifunctional sea space and MARES-type projects. In his presentation, he noted, “The extensive research done by the experts in the MARES project shows its (OTEC) around TRL 7.” Later, he also said, “I would argue, we may be using the wrong word for OTEC, actually, OTEC is a means for getting deep ocean water as a resource up to the surface.” The full presentation can be seen on the ADB Knowledge Events Website: https://events.development.asia/materials/20230207/plenary-1-new-ocean-energy-economy
As a part of the MARES project, 33 proposals were evaluated and eventually 8 finalists were selected for presentation at the forum. Among the finalists, one winner (Subic Blue) and 3 honorable mentions were chosen including the OTEC-powered DOW infrastructure for Palau by the Institute of Ocean Energy, Saga University and Xenesys Inc.
More information on MARES and the forum are available here: https://events.development.asia/learning-events/high-level-investor-forum-new-ocean-energy-economy