Wave tech surges ahead
Australia's wave energy sector is gaining momentum, with pioneering companies advancing prototype deployments both at home and abroad.
With its vast coastline, abundant wave resources, and skilled engineering base, Australia is well-positioned to become a global leader in marine renewable energy.
Following successful trials, the nation’s wave energy startups are entering a critical phase as they seek out early-stage funding.
Each company is now planning to either scale operations, expand into new markets, or bring their technologies closer to commercialisation.
Wave Swell crowdfunds its US rollout
After completing a successful two-year trial of its UniWave200 wave energy converter on King Island, Tasmania, Wave Swell Energy (WSE) has launched a crowdfunding campaign through VentureCrowd to finance its next growth phase.
Wave Swell's technology uses a one-way oscillating water column to generate electricity without any moving parts in the water. The trial demonstrated over 50% energy conversion efficiency which has been independently validated.
“The world needs reliable, clean energy - and Wave Swell Energy has cracked the code. Our proven, award-winning wave energy technology is ready to scale globally and transform how the world powers itself,” the company said.
Wave Swell is now turning its focus to the US market, where it is engaged in a Department of Energy (DOE) funding program and has also proposed a new 200 kW demonstration project embedded in coastal breakwater infrastructure.
"We've taken the decision that in order to be successful in commercialising our technology, we must expand internationally," CEO Paul Geason said. "Favourable government policies and funding programs make the United States a destination and priority market for Wave Swell."
The company says it has established a US subsidiary and is leasing space in the Port of Los Angeles. It's also developing local partnerships and is laying the groundwork for a local assembly facility, with its next goal to raise up to A$3 million to help fund this expansion.
Carnegie gets backing for Europe demo
Western Australia-based Carnegie Clean Energy has had a recent win in Spain with a €600,000 contract that will see its subsidiaries in Ireland and Spain install and test its CETO wave energy technology there.
The test will take place at the Biscay Marine Energy Platform (BiMEP) site under the EU-backed ACHIEVE Program and builds on a previous reservation made for the site.
CETO is a fully submerged, point absorber system. A buoy moves with ocean swells just below the surface, converting kinetic motion into clean electricity. The system will be installed between SAITEC’s DemoSATH floating wind turbine and Tecnalia’s HarshLab offshore platform.
“BiMEP provides established world-class facilities, a supportive and collaborative team and challenging sea states,” Carnegie CEO Jonathan Fiévez said. “This combination is precisely why we’ve chosen to deploy CETO at BiMEP and we look forward to CETO demonstrating its performance and reliability at the site.”
Last month, Carnegie Clean Energy's Spain subsidiary received a €317,945 milestone payment from the Basque Energy Agency (Ente Vasco de la Energía – EVE) for its ACHIEVE+ wave energy project.
Carnegie’s Irish subsidiary also recently secured €203,437 under EuropeWave Phase 3, a €20 million European initiative co-led by Wave Energy Scotland and Ente Vasco de la Energía (EVE) to accelerate wave technology development through a competitive stage-gated process.
WaveX seeks funding for WA prototype
Perth-based startup WaveX is preparing to raise capital via a seed investment round to support the next stage of its technology roadmap. The company plans to use the funding to deploy a large-scale steel prototype off the southern coast of Western Australia.
Designed for simplicity and durability, WaveX's D-Spar energy device employs nested cylinders and avoids underwater moving parts, reducing seabed disturbance, complexity and maintenance demands.
“We're going to deploy our tech that has no underwater moving parts, we're going to onboard an amazing local team who've already installed a million tonnes of offshore structures, and we're going to do it right here in Western Australia,” WaveX said.
WaveX is collaborating with several partners, including engineering firm Arup on electrical systems design, as well as Trident Energy in the UK, and Floating Solutions Consulting (FSC) in Australia.
