The path to achieving climate goals requires new technologies and we are doing just that. Alyria is developing the world's most advanced wind turbine that is not only efficient but also addresses the needs of underserved markets such as offshore wind energy, shipping industry or small home and office installations.
Despite having higher wind speed in consistent direction, exciting offshore wind turbine technology requires more complex infrastructure to support it and, as a result, is more expensive to construct and to maintain. In comparison, Alyria's wind turbine technology provides a more feasible and scalable option at viable costs enabling to expand the utilization of this vast energy source.
The shipping industry is responsible for about 3% of today's global emissions. This is expected to grow to 10% by 2050 as existing technologies are not feasible to address the shipping industry decarbonization goals. For this reason, Alyria's wind turbine technology provides a retrofit solution that can be installed onboard existing fleet as well as newly built ones to reduce fuel consumption.
This sector is only limited to solar installations as of now as a renewable energy source which is first expensive and second is not reliable. Customers with significant energy demand in winter and located in areas where the winters are cold, cloudy and wet, have little use of solar energy. Alternatively, Alyria technology provides a reliable energy source 24/7 as long as the wind is blowing.
Alyria targets an initial market size of $10 Billion USD. That is roughly about 8% of the total wind turbine market of more than $120 Billion USD across offshore wind, shipping, as well as small to medium home and office markets.
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