Mocean Energy Secures Funding for Novel Wave Energy Generator Technology
Scottish wave energy company Mocean Energy has recently announced significant developments in its quest to revolutionize wave energy technology. The company has secured £140,000 (around $178,000) in commercial work and a £1.2 million (around $1.5 million) grant from Wave Energy Scotland (WES) to further advance its novel direct drive generator.
The funding boost from WES is aimed at refining Mocean Energy’s generator technology, with the goal of providing continuous power to offshore industries, remote islands, and other isolated applications.
Additionally, Mocean Energy’s successful commercial activities have brought the firm closer to achieving its crowdfunding goal. With only £1k left to raise, the crowdfunding initiative, which is set to close on December 31, 2024, has garnered significant support.
Recently, Mocean Energy secured an engineering study with a “major energy operator” to explore integrating its Blue Star wave energy device into the operator’s project. This collaboration signifies a growing interest in renewable ocean energy solutions and highlights the company’s commitment to innovation.
Furthermore, Mocean Energy is collaborating with German subsea technology firm SubCtech to explore the integration of wave and solar energy with batteries to deliver low-carbon power solutions for various applications in the subsea sector.
The joint efforts of Mocean Energy and SubCtech aim to develop cutting-edge subsea technologies that leverage wave, solar, and battery power to address the evolving needs of the industry.