Wave Swell Energy is developing the UniWave 200, a 200 kW pilot-scale wave energy converter designed to be partially submerged on the seabed. The UniWave 200 captures oscillating water inside a chamber, driving air through a turbine to generate electricity. The company plans to design, construct, install and operate the device off King Island, Tasmania, integrated with Hydro Tasmania's microgrid. ARENA has committed $4 million in funding toward the $12.3 million project to demonstrate commercial viability and integration with wind and solar. Wave Swell’s CEO said the King Island demonstration is intended to be the first of many projects using the company’s intellectual property. ARENA and company materials highlight wave energy’s relative predictability and potential to reduce the need for significant battery storage on island microgrids.

Total raised

$4M

Funding rounds

1

Latest round

Equity

Latest activity

Sep 2019