See the overview of the combined power of Flexcom Wave from Wood Group and ExceedenceFINANCE from Exceedence to quickly build, analyse and optimise wave energy devices & for Energy Yield, LCOE, (Levelised Cost) ROI and IRR. Kindly funded by SEAI and presented at EWTEC 2017 in Cork.
5G and 6G refer to generations of mobile network technology, each representin...
Techno Financial Software for Wave Energy
1. Simulation & Financial Software for
Offshore Renewable Energy Devices
Flexcom Wave and
ExceedenceFINANCE
Ray Alcorn
CEO Exceedence
Aengus Connolly
Senior Consultant, Wood Group Digital Solutions
2. • Specific need for Techno-Financial software
• Combined offering
• Wood Group - Flexcom
• Exceedence Cloud based overview
• QUESTIONS PLEASE
• Please sign up to our news group!
OUTLINE
3. Your Specific Needs
• Why Techno - Financial models?
– Convince Investors, Government and EU Funders
– Plan for cost reduction, measure and track progress
– Make both Corporate and Technical Development decisions
– Supply chain credibility
– BE COMPETITIVE
• You need
– Reference models & data
– Own Data Import and Output with full transparency
– Variable granularity – Input and Output
– Indicators – Yield, Capacity Factor, LCOE, IRR, NPV, NPV/MW
– Built in Data Sets (e.g. WES) and Device Models to get started
– STANDARDISED
– What-IF? Analysis and Optimisation
8. 30+ years of Building Simulation Software
Renowned Simulation of Offshore Structures
Automated Engineering Analysis for Drilling & Installation
On-Board Operation Monitoring & Planning
9. • Structural analysis software
– General purpose & highly versatile
– Renowned finite element formulation
• Traditionally oil & gas oriented
– Risers, mooring lines, umbilicals,
offloading lines, seafloor conduits,
installation processes
• Renewable energy devices
– Wave energy converters
– Floating offshore wind turbines
Flexcom
9
10. • Simulator for Offshore Wind Turbines: Flexcom Wind
– Phase 1: Q3 2016 to Q2 2017 => Version 1 Release
– Guided by board of industry advisors
• Simulator for Wave Energy Converters: Flexcom Wave
– Phase 1: Q2 2017 to Q4 2017 => Version 1 Release
– Collaboration with Exceedence Ltd. (financial modelling)
Recent Developments for Offshore Renewables
10
11. • Aerodynamic model delivered via fully
integrated coupling with FAST
• Inputs defined in engineering terms
and logically grouped into familiar
components e.g. blade, tower, floater
• Solution validated via test cases
sourced from the international
benchmark project OC4
• Affordable cost structure and flexible
licensing options
Flexcom Wind
11
12. • Easy to build models
– New user interface
– Sample WEC devices
• Wave resource data at your fingertips
– Interface with ExceedenceFinance
• Provide power outputs
– 3D plots
– Export to ExceedenceFinance
• Detailed simulation
– Finite element structural analysis
– Radiation-diffraction hydrodynamics
– Validated solution
Vision for Flexcom Wave
12
15. A Taster of what is to come - Demo
• FEEDBACK from OUR USERS
– Refined User Interface (UI) and User Experience (UX)
– Clear Workflow and stopping off points
– Speed to build & Improved response time
– Validation EY and Data SETS (WES Mandatory Sea States)
• END RESULT
– Focus on Analytics and KPIs (Power Performance, LCOE, IRR, NPV)
• Sensitivity & What If?
• Optimisation
• Model Comparison
– Currency, Location, By Metric
17. Value Proposition
Save Time
Variable detail entry, prepackaged data
sets, intuitive interface
Integrated WEC Simulator
Deeper understanding of the
capabilities of the technology
More Accurate Financial KPI’s
Through the modelling of an
engineering design
Reduce Risk
No single points of knowledge
Maximize Resources
Streamline processes internally and
externally
Increase Profitability
Optimize projects earlier
Build Trust
Transparency & standards enhance
certainty in the supply chain
Unlock More Investment
Increase investor confidence through
standardized language and process
18. Conclusions
• Subscription model available Q1/Q2 2018
• Desktop versions are currently available – Any
existing users will get transferred for free +
bonus
• Join our news group & tell us your needs
– info@exceedence.com
19. Thank You
Ray Alcorn
CEO Exceedence
Aengus Connolly
Senior Consultant, Wood Group Digital Solutions
Editor's Notes
These funders are the sweetspot customers.
They are actively seeking us out and by selling to them we can make the software a DE FACTO standard