News and Announcements
Wave Swell Energy mitigates the effects of climate change with its unique and innovative technology generating electricity from waves
- Published January 20, 2020 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Wave Swell Energy (WSE) is an innovative Australian renewable energy technology company, founded in October 2016: https://www.waveswell.com
WSE was formed to commercialise its unique unidirectional Oscillating Water Column technology. WSE is currently developing a world first project utilising this new technology at King Island, Tasmania. Construction is nearing completion, the unit is on schedule to be deployed providing clean electricity by mid 2020. This is a significant event for WSE.
Hydro Tasmania, a world leader in the integration of renewable energy resources, will independently monitor the unit’s output. Our understanding is that Hydro Tasmania’s King Island power station will be the first in the world to generate electricity from wind, wave and solar.
Climate change is challenging the globe at an accelerating rate. The current bush fires in Australia are a testament to that. It is a notable and growing global issue for discussion which will receive additional coverage at the Davos World Economic Forum being held this month in Davos. Front and centre will be the social and economic global impact of climate change.
Market behaviour is changing. For example, the world’s largest asset manager, Blackrock, has recently taken a very proactive investment stance – within a decade, Blackrock’s sustainable assets will rise form $90 billion to $1 trillion.
WSE is seeking A$500,000 that will be used to develop a project pipeline and continue to develop technical innovations to improve unit design to achieve greater efficiencies.
WSE is offering equity at A$5.64 per share, with a minimum parcel of 2,000 shares (A$11,280). Commitments to invest are sought by Friday 28 February with funds deposited by 5.00 pm on Friday 13 March. Please email [email protected] for an Information Memorandum.
About Wave Swell Energy
WSE has developed a unique cost-effective technology to convert the energy in ocean waves into electricity. The technology involves no moving parts whatsoever in the water, thereby precluding costly underwater access for maintenance. The company is currently developing a 200 kW project at King Island, aimed at demonstrating the commercial viability of the technology.
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