Excipio Energy was created to bring together offshore oil and gas expertise and Offshore Renewable Energy (ORE) technology. Excipio's goal is to become a first-tier supplier of offshore renewable power to both the grid and offshore oil and gas facilities. The current global focus is on offshore wind, but ORE encompasses capturing energy from winds, waves, tides, ocean currents, and thermal gradients. Excipio's concept is a modular platform design that captures all ORE modalities suitable to the location. The initial objective is to provide green power to locations where the wholesale price is over 20 cents per kWh. Excipio plans to offer these power-only platforms, which we call an Excibuoyâ¢, under Build Own Operate Maintain (BOOM) contracts. This reduces the risk to the client and can shift a significant portion of the cost of an ORE development into OPEX. This allows Excipio to realize a higher cost per kWh making even the prototype Excibuoy⢠a profitable device. As we perfect the platforms and our required price per kWh reduces Excipio intends to migrate to a power company model, selling green electricity to the grid. The act of integrating Marine Hydro-Kinetic (MHK) devices, and where appropriate OTEC, into a floating wind platform has the effect of reducing the LCOE, and our goal is to be cost competitive with conventional gas-fired power plants without any form of subsidies. Excipio Energy Inc. is the parent company based in Houston, Texas. Our organizational model is based on leading a Consortium of companies, each providing a required part of the supply chain, to allow us to offer to our clients either direct power sales, Build Own Operate Maintain contracts, or turn-key products for other operators. Our primary goal is to see integrated platforms deployed as part of the renewable energy matrix. To date we have letters of intent from 12 companies, with 6 more pending. The intent is to have a catalog of ORE products that we can tailor to each market based around a single platform. Once fully funded the intent is to create subsidiary companies to execute each project and to create a subsidiary operating company, Excipio Energy Power Systems (EEPS), to manage those assets for which we have retained ownersh
