Progress for Ocean Harvesting
Wave power will be an important part of the future renewable energy mix, contributing both to lower cost of energy and a more stable energy system. Swedish Ocean Harvesting has made substantial progress developing their wave energy converter InfinityWEC, as can be seen in recent press releases.
Latest press releases from Ocean Harvesting
Ocean Harvesting to raise 3 MEUR for sea trials with InfinityWEC wave energy converter
Ocean Harvesting is currently preparing for sea trials of InfinityWEC at scale 1:3 to be performed off the west coast of Sweden. The sea trials will validate the performance in real sea environment and the results will be used to further develop and improve the full-scale system with regards to energy yield, system efficiency, availability, and ultimately affordability.
To finance sea trials with wave energy converter InfinityWEC at scale 1:3, Ocean Harvesting is raising 3 MEUR in equity investment at a pre-money valuation of 7 MEUR. This investment will be combined with public financing for the project. The sea trials are planned to be completed by the end of 2024, after which commercialization of the technology will be initiated with sea trials of full-scale systems.
Illustration: InfinityWEC prototype in scale 1:3 with a close-up view of the power take-off
Novel buoy made of high-strength concrete
Ocean Harvesting is developing a novel concrete hull for the buoy of InfinityWEC wave energy converter, using high strength concrete with low environmental footprint and excellent durability.
The solution allows for large scale production and results in a buoy with weight similar to a conventional steel hull, but at a quarter of the cost, a third of the CO2 footprint, and one tenth of the manufacturing time.
Illustration: InfinityWEC wave energy converter with the novel high-strength concrete buoy connected to the PTO system
The unique high-performance concrete mix used for the buoy is developed by RISE (Research Institutes of Sweden) department for Infrastructure and Concrete Technology as part the joint industry project WECHull. To facilitate a thin-walled, lightweight structure and easy, rapid manufacturing, alternative reinforcement measures were investigated, evaluating the use of fibres of different types (carbon, aramid, glass, steel and biomass), as well as polymer reinforcement with carbontextile grids.
Testing of InfinityWEC power take-off and control system in a scale 1:10 test rig completed
The company has successfully completed the testing of a prototype in scale 1:10 of the power take-off (PTO) and the control system for the wave energy converter InfinityWEC, in a project co-financed by the Swedish Energy Agency.
The test rig will have continued use as a development platform to evaluate advanced reactive control strategies and design principles, to further refine InfinityWEC’s capability to extract maximum power from every individual wave.
About Wave Power
The estimated global theoretical potential of wave power exceeds the global use of electricity and is available in coastal areas where most of the population lives.
Wave power produces electricity more consistently and at different times compared to wind & solar power and therefore contributes to offset intermittency, reducing the total cost of carbon-free electricity. Wave power furthermore needs only half the amount of energy storage to balance the power production to a constant output throughout the whole year compared to wind power, further reducing the total cost of energy.
Wave power will be an important part of the future renewable energy mix, contributing both to lower cost of energy and a more stable energy system.
For more information please contact:
CEO of Ocean Harvesting Technologies AB
+46 709 55 61 66
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