Wavepiston has launched a crowdfunding campaign on Seedrs in order to raise between €2 and €3 million in order to fund the final phase of development of its patented wave energy technology and to demonstrate the technology at full scale.
Wavepiston’s technology is capable of delivering both electricity and desalinated water from the energy in waves.
Since 2009, the company has developed and tested its technology, taking it to a mature state. This campaign represents an opportunity to become part of the company’s future journey and invest in the innovations surrounding ‘green’ energy. Shares are available on the Seedrs crowdfunding platform at a price of DKK81.50 / €10.94.
“Our most recent tests were conducted at half scale in the North Sea with up to 12 meter waves, and the results are very promising. We anticipate being able to deliver electricity and desalinated water at half the price, that key markets like ocean islands and remote coastal areas are facing today, with diesel generators as their main power supply.
“With crowdfunding, we are giving a broader audience the chance to become an active part of the green transition, and we hope that this campaign will help raise awareness for the potential in wave energy. In this round we are planning to raise between €2 and €3 million for the next development phase, and existing shareholders as well as several new investors have already committed to a significant part of that amount.”Michael Henriksen, CEO of Wavepiston.
In addition to the private equity, the Wavepiston projects have received grants of €5.5 million from the European Union’s “Horizon 2020 research and innovation – SME Instrument” as well as “Fast Track to innovation” programs under grant agreements no. 830036 and 831041.