Renewables

Australian wave energy technology gets backing from Japanese shipping giant

Published by

Bombora Wave Power, which started out life in Perth, Western Australia, but now bases itself in Pembroke Dock in Wales, has received a £3.54 million ($A6.68 million) investment designed to accelerate the commercialisation of its mWave energy technology.

The investment comes from leading Japanese global maritime transport group Mitsui O.S.K. Lines (MOL), the Japanese shipping giant that operating a global fleet of more than 700 vessels including tankers, bulkers, car carriers, and ferries, and also supports other offshore technology projects.

“Bombora is a company at the forefront of innovative wave technology and we are very happy to be continuing to work with Sam and the team,” said Yasuo Suzuki, corporate marketing division general manager at MOL.

“We see great opportunities for mWaveTM technology to provide a significant contribution to the renewable power generation mix in Japan and Asia.”

The investment follows 18 months of close collaboration between the two companies and will be used to complete a 1.5MW mWave validation project due to be installed off the coast of Wales in the coming months.

Bombora’s mWave technology consists of a membrane style wave energy converter which seeks to address several wave energy technology constraints, including the cost of energy and survivability in ocean conditions, all while still delivering a utility-scale solution.

Bombora is also working with global EPCI contractor TechnipFMC on incorporating its mWave technology into the offshore wind foundations of the InSPIRE project. The partnership, signed in April of 2021, will look to develop a 6MW hybrid floating wave and offshore wind generation platform.

Next on the cards for Bombora is a 14MW demonstrator project consisting of a 4MW mWave converter and a 10MW wind turbine integrated together on a floating platform.

It will then seek a pre-commercial demonstration of a similar 18MW project, which will consist of a 6MW mWave converter integrated on a floating platform with a 12MW wind turbine.

“Renewable energy supply is one of the big issues we’ve yet to fully tackle as a society,” said Sam Leighton, managing director at Bombora. “We are confident that our technology can contribute significantly to this market by delivering consistent and predictable renewable power.

“We have worked closely with MOL over the last 18 months and are delighted to strengthen our relationship through this investment. MOL bring invaluable expertise in marine operations, local industry supply chain knowledge and can provide support in project development in Japan and across the region.

“The MOL investment underpins Bombora’s wider capital raising initiatives to propel the company through the next phase and for delivery on commercial projects.”

 

Joshua S. Hill is a Melbourne-based journalist who has been writing about climate change, clean technology, and electric vehicles for over 15 years. He has been reporting on electric vehicles and clean technologies for Renew Economy and The Driven since 2012. His preferred mode of transport is his feet.

Joshua S Hill

Joshua S. Hill is a Melbourne-based journalist who has been writing about climate change, clean technology, and electric vehicles for over 15 years. He has been reporting on electric vehicles and clean technologies for Renew Economy and The Driven since 2012. His preferred mode of transport is his feet.

Share
Published by

Recent Posts

“Shell companies for rent seekers:” Coalition attacks solar innovators, including Turnbull-backed SunDrive

Coalition Senator takes aim at Australian solar innovators looking to tap into the Solar Sunshot…

4 November 2024

Ausgrid pitches its first big batteries for Newcastle and Sydney

Ausgrid want to put two large batteries in Sydney and Newcastle, as part of the…

4 November 2024

SwitchedOn Podcast: Breaking even on solar, storage and two Teslas in under nine years

Rosemary Grundy is on a mission to demonstrate that going renewable and electric is not…

4 November 2024

Retail electricity upstart Energy Locals to get new owner after Quinbrook sale

Australian-owned electricity retailing upstart Energy Locals is set to change hands, after Quinbrook agrees to…

4 November 2024

Snowy Hydro profits double as it cashes in on grid outages and higher retail prices

Snowy Hydro annual earnings double, helped by its ability to cash in on extreme pricing…

4 November 2024

NSW approves supersized 1.3 GW wind project with fewer but bigger turbines

NSW gives planning approval for amended proposal to boost rated capacity of a gigawatt scale…

4 November 2024