The former chief executive of the Manx Electricity Authority is hoping to build an experimental renewable energy plant for the Australian navy's largest fleet base.
Chief executive of Renewable Energy Holdings Mike Proffitt says the company has signed a Memorandum of Understanding with the Australian Department of Defence.
The agreement means the firm could soon build its wave power device, CETO, at Garden Island in Western Australia.
The facility would test commercial CETO units and could eventually provide the base with electricity and fresh water.
Mr Proffitt (pictured) says CETO units are undergoing final tests and could be deployed in the northern hemisphere soon.
Renewable Energy Holdings set up in the Isle of Man in 2004 and has offices in London and Douglas.
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