Ocean Harvesting to raise €500,000 for InfinityWEC Design Update and Sea Trials Preparation – AbellMoney

Ocean Harvesting to raise €500,000 for InfinityWEC Design Update and …

Ocean Harvesting Technologies AB, the developer of the wave energy converter InfinityWEC, is raising 500,000 Euro to fund a design update of its technology and prepare for upcoming sea trials.
Since 2017, Ocean Harvesting has been dedicated to the development of the InfinityWEC wave energy converter. Recent efforts have focused on refining the ball screw actuation system in the power take-off and enhancing simulation models for the sixth generation of the technology. The company plans to continue full-scale system design work throughout 2024, with a subsequent 1:3 scale sea trial project scheduled for 2025-2026.
The InfinityWEC converter aims to harness the vast renewable energy potential of ocean waves. By providing consistent electricity production that complements wind and solar power, the technology offers value-added benefits such as reducing the need for extensive energy storage infrastructure.
Mikael Sidenmark, CEO of Ocean Harvesting, highlights the efficiency of the ball screw actuators in the power take-off system, which, combined with advanced model predictive control algorithms, maximizes energy output from each wave while minimizing buoy motions and loads.
The InfinityWEC design emphasizes circularity and environmental sustainability, utilizing low-cost, low-carbon materials and achieving high material efficiency. Engineered for large-scale production and efficient deployment, the technology offers competitive energy production costs and minimal environmental impact.
In 2024, Ocean Harvesting will focus on implementing an enhanced model predictive control algorithm in the control system, completing full-scale system design, and advancing buoy technology as part of the EU-financed WECHull+ project. Preparation for the 1:3 scale sea trial project is also underway, supported by a 2 million Euro grant from the Swedish Energy Agency.
Ocean Harvesting’s commitment to innovation and sustainability positions it as a key player in the global transition towards renewable energy sources, contributing to the advancement of wave energy technology.
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Ocean Harvesting to raise €500,000 for InfinityWEC Design Update and Sea Trials Preparation