Because it is very difficult for some deep sea equipment to supply power, the electricity will cost about 1,000 yuan per kWh, a sum far beyond the means of the general public, he said.

"Essentially, it's a commercialization issue. Because of that, Wu's experiment needs to be encouraged. The results are highly anticipated because the platform may greatly reduce the cost of electricity," You said.

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He suggested that the government should launch a number of pilot programs aimed at accelerating the commercialization of ocean energy resources in coastal provinces such as Zhejiang and Fujian.

Wu said his company is probably the only one in the country involved in both the design and production of wave-power generators.

"If the project succeeds, it may become a model and attract further support from the government," he said.

The entrepreneur said that because private companies often have serious financial shortcomings when engaged in ocean-power projects, they are forced to "make every penny count".

Private enterprises are also likely to focus harder on the business aspects of projects such as alternative energy and be far more efficient, compared with teachers at universities and institutes who are forced to devote a large part of their time to teaching and academic tasks, Wu said.

"I hope more private companies will get in on the act," he said.