You missed part one of our interview series? Read the beginning of the story here!
Philipp, how did it eventually come to the founding of your start-up?
During the time of my doctorate I got acquainted with Dr. Lothar Stein, a big name in Munich’s start-up scene. He was my mentor during the founding of the start-up and the application for the EXIST research transfer. Finally, in 2014, with the first investors on board, SINN Power was founded.
Why do you think SINN Power's patented technology has the potential to be the only one to successfully use the energy ocean waves?
Within 3 years we have implemented a functioning prototype with only 1.5 million euros capital and have already won a commercial wave energy project in Cape Verde. To achieve the same status, our biggest competitors had to spend an average of 119 million euros.
Apart from the technical advantages that I mentioned before, we benefit from our proximity to TU Munich. Through our cooperation we get access to the excellent knowledge of top-class engineers. This constitutes a very important backbone of our company.
Which changes are to expect for the renewable technology industry if SINN Power redefines the concept of wave energy and makes it usable worldwide?
Our modular, floating technology offers a much greater flexibility compared to all previous wave energy converter approaches. Another significant advantage, especially with regard to the sun or wind, is that waves have base load capability and thus ensure a stable power supply day and night.
The use of waves could therefore open a new chapter of renewable energy supply. A really substantial amount of the global electricity demand can be covered by wave energy. About 60% of all people live near coastal areas—this exemplifies the enormous potential of our technology.
SINN Power just had its 3 year anniversary. What drives you? What vision do you pursue with your startup?
Visions can be placed as far away as you want. But if I rather interpreted the vision as an intention, it would actually be: to put an economically successful wave energy converter on the market. The market is gigantic, the potential is gigantic, there is little—except perhaps artificial intelligence—that holds greater potential.
In the past 3 years, we have made huge advances in developing a technology that uses wave power for supplying humanity with energy. And we're constantly working very hard to realize the final breakthrough.
Well, Philipp, which philosophy do you pass on to your team members?
The most important thing is to enjoy doing your job, because then everyone gets the maximum out of his or her potential. I implement this here in the company as a sort of ethics. We try very hard to consider the individual strengths and needs of each team member. We aim to especially strengthen and motivate them, and as a result, they are doing very valuable work for us.
Thanks for the interview and good luck with your young company SINN Power!
Download the press release here: Portrait: Philipp, CEO of SINN Power (part 2) (PDF)
Laden Sie die Pressemitteilung hier herunter: Portrait: Philipp, CEO von SINN Power (Teil 2) (PDF)