MD Energy is a device for the conversion of wave energy into electrical energy. It is a point that absorbs which transforms the vertical motion of the circular floating buoy due to waves into electrical energy. Sigma Energy is a company that was established in 2008 in order to develop and deploy energy conversion technology. Company is privately owned by Mile Dragić, head engineer of the project.
The device included of circular float and support. The support is a tension leg platform (TLP), with a focus on the seabed. The float is connected to a spherical seal so it could pitch an heave. The original mechanical power take-off (PTO) system is covered by several international patent licenses. Efficiency of the scaled model at 1:18, measured at the CWR was above 30%.
Early prototype tests (2007-2009) were held on the Danube river and the coast of Montenegro. Small scaled model tests (scale 1:30) have been performed in MARINTEK in Trondheim, Norway in May 2010. The model has been tested in recent years. The model (1:35 in scale) was tested in Aalborg, Denmark in 2013. In 2014 the model scaled at 1:18 was tested in Brest, France under the EU-sponsored incentive for renewable technology trials. The latest prototype testing in December, 2017 took place in Bar, Montenegro where 1/3 scaled device was successfully deployed.