Same waves, new angle
Has this Western Australian startup cracked the wave energy challenge?
Few startups have successfully harnessed wave energy at a scale fit for commercial use, but Perth-based WaveX aims to change that with a fresh approach.
By adapting offshore tethering techniques from the oil and gas industry, the company is bringing its own wave energy device to life.
WaveX was founded in January last year by former construction engineer Simon Renwick. Renwick had a breakthrough idea while working on a floating oil rig. He saw that an existing structure from the oil and gas sector might just be the missing piece to make wave energy viable.
Despite Australia’s abundant wave resources, Renwick notes, progress in wave energy capture has been slow. “We’re convinced we’re different in a revolutionary way. A step-change proposition is what our device brings to the table,” he told The Zero Planet.
“We’ve approached the problem from a completely new angle, and I think that’s going to break the back of it.”
Unlike most wave energy startups, which build their technology from scratch, WaveX takes a different approach. By adapting structures used in the oil and gas industry, the startup aims to scale up much faster.
The design makes use of existing mooring systems, power cables, and fabrication methods from offshore rigs, promising a quicker and more cost-effective deployment.
"A step-change proposition is what our device brings to the table"
“We don’t claim IP on the anchor or mooring; we go to a design house in that industry for that,” Renwick said. “The components exist, they’re proven, and they’re readily available.”
WaveX has made significant progress in a short space of time. The company has completed tank testing of its D-Spar Wave Power Generator design which is based on nested cylinders at the University of Western Australia and in Perth’s Swan River, with encouraging results.
It was also a finalist in the Technology and Innovation segment at SXSW Sydney last month and was recently awarded a $2.4 million federal government grant, which WaveX hopes to match with a $3.5 million capital raise in the coming months.
These will help fund its vision of deploying a large-scale prototype – a 10-meter-long, 40-ton steel structure – with plans to deploy this off the coast of Albany, Western Australia, next year.
This location benefits from the strong, consistent swells along Australia’s southern coastline, which the CSIRO has identified as ideal for wave energy.
Filling the gaps
At full scale, each device could produce up to three megawatts, enough to power around 500 homes, and with multiple units, entire communities could benefit, according to WaveX.
“The real game-changer will be the impact our technology has on the power grid overall. We can fill the gaps left by the intermittency of wind and solar,” Renwick said.
“Combining all three renewable sources results in much higher levels of renewable electricity. It also helps navigate seasonal variations, as wave energy peaks in winter when wind and solar are less consistent.”
WaveX’s journey has been supported by Perth’s Centre for Entrepreneurial Research and Innovation (CERI), a social enterprise backing innovative Australian entrepreneurs.
“We’re excited to help WaveX transform their research into a model that could redefine renewable energy production in Australia and beyond,” CERI CEO Toby Swingler said.
“Innovators often lack the know-how to commercialise their research, and that’s where we step in to help.”
WaveX’s D-Spar Wave Power Generator is designed for fast, cost-effective deployment by using moorings, power cables, and fabrication techniques from offshore rigs. The generator’s unique design employs nested cylinders and avoids underwater moving parts, reducing seabed disturbance. Next year, a large-scale prototype – a 10-meter, 40-ton steel structure – will be deployed off Albany’s coast in Western Australia. At full scale, each generator could produce up to three megawatts, enough to power 500 homes, with multiple units capable of powering entire towns, according to WaveX.
