“Wave Swell Energy’s technology has the potential to supply a meaningful proportion of the world’s energy supply. The technology is efficient, survivable, and accessible. Not only does it take the energy from ocean waves and convert it into electricity – it can also be used as a form of coastal protection, reducing the effects of erosion caused by sea level rise and extreme storm events. This is a technology perfectly suited to the future.”
Tom Denniss, Founder, Wave Swell Energy Ltd
The world is in urgent need of a wider range of renewable energy resources to diversify the renewable energy supply. Wave energy is predictable and consistent, an important requirement for complementing other forms of generation during the transition to 100% renewables.
Additionally, sea level rise and extreme storm events are creating major problems for low-lying island nations, requiring the construction of seawalls. However, seawalls are a sunk cost. Turning this cost into a source of revenue is paramount.
The WSE technology addresses the global requirement for renewable energy, while at the same time doubling as a way to protect coastlines and low-lying islands from erosion and inundation.
- Is more predictable than wind and solar
- Complements existing fossil fuel generation
- Diversifies the mix of renewables
The WSE technology is unique in terms of its other major application. WSE units:
- Placed side by side act as an effective barrier to the waves, creating a breakwater or seawall
- Allow coastal protection to become a revenue generating issue, rather than a sunk cost
- Provide low lying islands with the ability to achieve both cheaper and greener power, as well as protection from the inevitable effects of sea level rise
WSE has several competitive edges over other wave energy technologies, and even over other renewable energy sources. In regard to other wave energy technologies, it is:
- More cost effective
- More efficient, survivable, and accessible
- Has no movement whatsoever in the water
- Doubles as a seawall to protect coastlines from erosion
The WSE technology also exhibits advantages over wind and solar. The ability to accurately predict the output of a WSE device days in advance provides a significant competitive edge, allowing the technology to be considered complementary to existing fossil fuel base-load generation.
The small team at WSE has 80 years of combined experience in the wave energy sector. Additionally, WSE co-founder, Dr Tom Denniss, served as the Australian Government’s inaugural representative on the International Energy Agency’s Ocean Energy Systems Executive Committee, and was the first person inducted into the International Ocean Energy Hall of Fame in 2007.
WSE is raising up to A$2M at a share price of A$7.68. The WSE share register is uncomplicated consisting of one class of share only – ordinary shares, all with accompanying equal voting rights of one vote per share.
It is expected that the company’s King Island project will be grid connected and generating electricity by April 2021 – this is a major milestone event for WSE. It is expected that this event will result in a significant uplift in the valuation of WSE. Therefore, the opportunity to invest at this $7.68 share price can only be assured up until this event occurs.
- WSE has successfully constructed, transported, and deployed its technology at King Island in Bass Strait, via a 200kW demonstration unit dubbed UniWave200
- The WSE technology and its King Island project have featured extensively in domestic and international news, magazines, and television, attracting widespread interest
- The US Department of Energy (DOE) has requested and funded a collaboration with WSE in regard to the King Island project as part of its marine renewable energy program. This collaboration will involve access to all data and results from the project for the purpose of the DOE analysing the potential of the technology for use in US waters