With increasing global concern about climate change, energy companies are looking to offer more renewable, clean sources of energy in order to meet the targets of the Paris Agreement. Wind energy is seen as a sustainable and eco-friendly solution and a recent report suggested the global offshore wind turbine market will increase 22.5% from 2018 to 2025 with annual revenue rising to $30.5 bn, representing 4.8% worldwide electricity usage at the end of 2019.
Key to the success of offshore wind as an energy source is ensuring that wind turbines work efficiently. Whilst the number of wind turbines is rapidly increasing, providing the world with 600 GWh of renewable energy every year, the repair of turbine blades is very costly due to the difficulty of accessing the blades themselves: an average blade repair can cost up to $30,000 and a new blade costs, on average, about $200,000.
Ilika plc (LON:IKA) is a pioneer in materials innovation and has been inventing new materials for energy and electronics applications for over a decade. Global brands such as Rolls Royce and Toyota have long term collaborations with Ilika’s development teams.
