Marine Power Systems Adds New Members to Its Board
- Business & Finance
UK marine technology development company Marine Power Systems (MPS) has appointed Sue Barr and Tom Kahan as new members of its board.
Sue Barr’s experience in offshore wind, wave and tidal industries will be an asset to the Swansea-based marine tech company as it moves into a new phase of development and growth.
In addition to a 20 year-long career in technology development, Barr has high-level expertise across government policy and will provide MPS with advice on revenue support, business development, project planning and market intelligence. Alongside her new board appointment at MPS, Barr will maintain existing board positions for UK Marine Energy Council, Marine Energy Wales and a national level representation for marine energy.
Tom Kahan’s appointment as non-executive director will further strengthen the expertise of the MPS Board. A qualified chartered accountant from Deloitte, Kahan has 15 years of financial experience across practice and industry along with extensive experience in M&A activities and raising funds to support strategic growth within businesses. His experience managing costs and driving profits for international manufacturing business (SPTS Technologies) should be of value to MPS as it prepares for the full-scale development of its WaveSub wave energy technology.
Earlier this year MPS revealed plans to expand its tech offering with two new devices; a combined wind and wave device called DualSub and a floating wind turbine device called WindSub. These devices will be developed alongside the company’s existing WaveSub energy generation device, for which full-scale development kicked off in early 2019. Sue and Tom’s appointments will be a huge asset to MPS as it works to expand these technologies and its areas of marine energy expertise in the years to come.
Commenting on the new board position, Sue Barr, said: “My appointment to the MPS board is a hugely exciting moment in a career that spans nearly 20 years in the marine energy sector. Marine energy is at a particularly interesting point in its development, requiring collaboration and an international view. I very much look forward to working with MPS board members on the development of the company in the years ahead.”
Commenting on his new post as non-executive director, Tom Kahan, said: “I have a huge passion for MPS, having followed and supported the business for a number of years. I am delighted to join at such a critical stage in its development and it is a great honour to be part of a Welsh business that is a world leader in marine energy renewables. I look forward to working with the Board of Directors and MPS team to help shape the future development of this business which I truly believe can contribute to a greener future for us all and to change the world in which we live.”
Dr Graham Foster, chairman of MPS, commented: “With the UK committed to completely phasing out carbon emissions by 2050, our country’s vast marine renewable energy resources need to be embraced; they have the potential to provide as much as 20% of our electricity needs within this time frame. Sue and Tom’s appointments to the MPS board is fantastic for MPS. Their combined knowledge of the marine energy sector and experience in financial, operational and strategic management will be invaluable to the company and its development in the years to come. We’re delighted to welcome them both on board.”
MPS’ WaveSub device has been financed through a mixture of public and private investment including WEFO (European Regional Development Funds) and Innovate UK. In April MPS revealed its plans to expand into the floating offshore wind sector with two new devices; DualSub and WindSub. The progress of WaveSub’s development alongside DualSub and WindSub illustrates the company’s long-term ambition to develop a range of marine renewable devices that can play a significant role in the UK’s shift to low-carbon energy generation.