Aussie-born Bombora wave energy backed by Japanese shipping giant

Rendered image of Bombora's wave energy technology, mWave, with wind turbines in the background
Image: Bombora Wave Power

Ocean energy company Bombora Wave Power (Bombora), originally from Perth but now based in Wales, has received an investment of £3.54 million from Japanese shipping giant Mitsui O.S.K. Lines Ltd (MOL) to further commercialise its mWave energy generation technology.

The investment by MOL, one of the world’s largest shipping companies, follows 18 months of close collaboration between the parties and is a further endorsement of Bombora’s technology and the global opportunity that mWave represents.

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MOL’s funding will be used to further the development and operational capability of Bombora’s patented mWave technology, including the completion of its 1.5MW mWave validation project due to be installed off the coast of Pembrokeshire in the coming months.

This investment cements the strong relationship that has developed between the two companies. The expanded collaboration strengthens the marine energy project development capability of the group in Japan and the surrounding regions while building regional supply chain capacity and leveraging MOL’s expertise in marine logistics.

The collaboration also increases the reach of the InSPIRE platform where mWave is integrated onto floating wind platforms to create an integrated renewable energy solution.

mWave harnesses wave energy at large scale to produce environmentally friendly, consistent and cost-competitive renewable energy for commercial power generation. mWave can be installed in both nearshore and offshore sites with good wave resources to generate sustainable clean energy.

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

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“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.”

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