Ocean current patterns have been identified around the world to have attractive velocity and directional characteristics that can be harnessed to make a significant contribution to energy production. The annual extractable ocean current energy in U.S. waters alone is estimated to be 1.8 trillion megawatt hours (mWh). OceanBased is focused on the Florida Gulf Stream, where research indicates 5-6 Gigawatts of extractable energy awaits.
Flowing water is nearly 800 times denser than blowing wind, which makes it more efficient and attractive as an energy source. Ocean water is the fuel for ocean current energy, with no emissions to adversely affect the environment. The Florida Gulf Stream current flows north at 3 to 5 mph, 24 hours per day, and is relatively constant in velocity and direction throughout the year. The Gulf Stream has existed since Earth was formed and will be here as long as it remains, as both a climate influence and sustainable energy source.