Wave Swell Energy opens investment round after completing Tasmania trial

Australian company Wave Swell Energy (WSE) has validated its 200 kW wave energy converter (WEC) on King Island, Tasmania, demonstrating the effectiveness of its unidirectional oscillating water column technology. Following this milestone, WSE has opened an investment round to support its next growth phase.

According to the company, the project achieved approximately 50% energy conversion efficiency, with the Australian Maritime College independently verifying the performance.

The company is now offering early investment access via VentureCrowd to fund expansion efforts.

WSE’s patented system, which operates with no moving parts in the water, is said to be proven durable in harsh marine conditions, minimizing maintenance costs and environmental impact. 

Following the completed trial, WSE is focusing on the U.S. market, where it is participating in a Department of Energy (DOE) funding program. The company has proposed a 200 kW demonstration integrated into a breakwater, aiming to advance commercial deployment in the region.

WSE said that it is forming strategic partnerships and has established a U.S.-based subsidiary. The future includes the potential to establish an assembly facility supporting an economic uplift and job creation in the U.S., the company noted.

In 2023, Wave Swell Energy retrieved its UniWave200 wave energy device after being deployed for over two years off the coast of King Island in Tasmania.