CalWave Power Technologies UG

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Project details

Project description

CalWave develops a game-changing, next-generation and proprietary Wave Energy Converter to harness the vastly available, predictable and stable energy from ocean waves to serve coastal communities.

The problem we are solving

The high performing WEC operates fully submerged, allowing it to survive stormy seas while causing no visual pollution.

Comments

Offering our first solution to high-value maritime markets with a remote power as a service business model. The CalWave xNode is a versatile platform for converting and storing the power of ocean waves, serving as a facilitator in the Ocean Internet of Things. An adaptable payload compartment means a standard xNode can provide reliable power at sea for a range of remote offshore consumers. For example, xNode can easily maintain an AUV docking station to increase remote inspection frequency while reducing vessel costs. In the open ocean, the xNode can accommodate any third-party scientific payload, for instance, to complement the ARGO fleet of oceanographic profilers, acoustically monitor fish stocks and marine mammals, or measure CO2 above and below the sea surface.

Technology readiness level

Sustainable impact on Blue Economy

CalWave's vision is to provide 500MW baseload renewable energy powered by ocean waves by 2040; displacing 774.8M tones of CO2 annually. 1.1) Short-term impact: Island Developing States (SIDS) Islands heavily rely on imported diesel for electricity production. 11% of the world's total population (730 million) lives on islands. Over 90% of power on islands is generated through imported fossil fuels. Emissions of diesel generators are 778 g Co2/kWh, nearly as high as coal. Diesel generators use imported heavy fuels and have to run at 50% capacity even without a load. Wave power can provide stable electricity at nights and during winters where wind and solar are not available. 1.2) Long-term impact: Utility-scale power. Offshore wind and wave farms combined can double their capacity factor. A larger percentage of variable renewables like wind and solar. Wave can reach a significantly better Energy to mass ratio as wave power is 30-60x denser than wind and solar. The IPCC lists Ocean Energy as lowest in lifecycle emissions at 17 gCO2eq/kWh.

Basic information

Country

Germany

Sector

Blue energy

Patents

Brief biography of founders and CEO

Using his extensive experience in product development and background in the industry, Marcus Lehmann, PhD leads a diverse team of engineers, business development specialists, advisers, and industry partners. He holds a diploma in Mechanical Engineering and an honours degree in technology management from the Technical University of Munich and a PhD in Systems Engineering from Hamburg University of Technology . Thomas Boerner: Co-founder, MSc in Mechanical Engineering (ME) from TU Aachen and MSc in Economics. Nigel Kojimoto: MSc in ME from MIT, USA. Bryan Murray: BSc in Electrical Engineering (EE) from Virginia Tech, USA. Dan Petcovice: Diploma Marine Renewable Energy Instituto Superior Tecnico BSc in EE from UCLA, USA.

Financial data

Finance needs

400000.00

Planned Funding Uses

Commercial grid connected open ocean pilot

Company profile