NextWave

Project "NextWave" data sheet

The following table provides information about the project.

 Partnership

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Map

 Project objective

Wave power can generate electricity around the clock, eliminating the need for energy-storage systems and making it easier to integrate into the grid than variable solar and wind power. However, compared to wind and solar energy, wave energy has remained relatively expensive and hard to capture. While a range of technologies and devices have been demonstrated through pilot projects, they are still in pre-commercial stage. SEABASED is the first company able to deliver turnkey wave parks that at a competitive price (compared to fossil fuels, solar or wind energy) in several places in the world. Seabased wave parks at their current stage are the product of over 15 years of R&D. We have developed the entire system from buoy to grid and the manufacturing processes that enable cost-competitiveness. We have obtained over 100 patents (in 20 patent families) for our innovations. The world will invest over €6 trillion in new renewable power generation until 2040. Both governments and private investors in the energy sector have recognized the potential of ocean energy. Policies to encourage its wider adoption are being established worldwide. Seabased is creating the market opportunity for wave energy. We have achieved a cost-effective technology and this in turn is starting to open markets for this clean and abundant energy source in places where it is very much needed. The short-term goal is to further guarantee the successful optimisation of the technology and foster initial commercial success. The longer term vision is the extensive deployment of utility scale (tens to hundreds of MW) wave energy parks in a global market.