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Resolute Marine Energy: Power in Waves

MIT Sloan > LearningEdge > Entrepreneurship > Resolute Marine Energy: Power in Waves
"The most important thing is not to get too enamored with a particular technology and make sure the technology is being harnessed to actually satisfy a specific customer’s need." – Bill Staby, CEO, RME
Resolute Marine Energy (RME) founder and CEO Bill Staby and COO Olivier Ceberio believed their company’s wave energy desalination system could provide safe and affordable drinking water to water-stressed communities. They set their sights on launching RME’s Wave2O system in Ugu, South Africa, population 700,000, where wave energy was abundant. Keeping in mind the many commercial failures of wave energy companies that came before them, what Staby and Ceberio were less certain of in the spring of 2012 was which of three strategic approaches to take as they worked to commercialize RME’s unique technology.
Learning Objective
To generate class discussion on the challenges entrepreneurs and startups face in commercializing a unique, niche-oriented technology, particularly when the funding that is available may well lead them down a less desirable strategic path.
Could be taught in the following course(s)
strategy, technology, entrepreneurship, sustainability