Tailwind for Waveco’s Wave Energy System
Waveco recently received funding for their subwave turbine from EU and Vestland County Council. The company is now making progress in collaboration with strong international players.
Waveco aims to have a full-scale prototype ready in the autumn of 2021 and the Institute of Marine Research in Bergen has offered to perform a sea test.
Building a strong consortium will be the task ahead and Waveco plans to introduce a commercial product to the market by the end of 2022.
Underwater Wind Turbines
Waveco's focus is small-scale wave energy-capture for self-positioning of ocean observation and power hub platforms. These are again powered by Waveco's patented submerged wave energy converter.
The system can be placed anywhere in the deep ocean, regardless of external power supply and water depth, and over a long period of time.
The application areas could eventually be to supply green energy onshore and for the production of hydrogen in offshore filling stations for ships along long-distance routes.
Several Players Contribute with Funding
As a start-up company, Waveco has previously received funding from GCE Ocean Technology, Sparebanken Vest, and Innovation Norway.
Recent funding from Interreg NW Europe Marine Energy Alliance and Vestland County Council has allowed the development to continue with vital analyses and tests.
– For a small start-up company like Waveco, it has been imperative to receive external financing, says Inge Bakke, Founder and main shareholder.
The Irish Exceedance Ltd. in Cork performs market analysis for Waveco and the Dutch Marine Energy Center (DMEC), French Ecole Centrale Nantes (ECN) and NORCE in Haugesund, Norway, perform theoretical analysis and computer simulations.
Inge Bakke and his companion Arne Kaland Sværen see an upcoming market for several types of small-scale ocean observation vessels.
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