The Australian Government has awarded $2.4 million to wave energy firm WaveX to continue the development of its unique anchors for offshore wind and wave energy.
Teaming up with global experts in wave energy from the University of Western Australia, WaveX hopes to become a leader in the race to harness wave energy.
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WaveX’s patented IP uses wave-powered generators to convert the vertical motion of the deep ocean into electricity at an industrial scale.
As Australia continues its progression towards an offshore wind industry, WaveX says it could integrate its wave energy technology with offshore wind farms.
“We will work with offshore developers to improve the yield of assets by generating power when wind and solar are below threshold levels,” the company says on its website.
“We will help to de-bottleneck an already constrained supply chain, with more megawatts per hectare, and new vendors outside of traditional markets.”
In announcing the funding, the Hon. Ed Husic, Minister for Industry and Science said, “West Australian smarts are showing the rest of the world how to get things smarter, more efficiently, with great potential for exports and local jobs.
“We’re backing Aussie businesses and that’s how you create jobs for Aussie workers.
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“More than $55 million for scaling up good ideas is what will help drive business in the longer term.
“We want Australia to be a renewable superpower that’s why we’ll continue to back companies like WaveX.”
