Wavepiston opens capital raise to back wave energy system

Danish firm to explore wave energy deployment offshore Barbados

Danish company Wavepiston and Export Barbados (BIDC), an agency of the Barbados Government, are set to explore the deployment of wave energy farms offshore Barbados.

According to Wavepiston, Barbados and most of the Caribbean region hold a large potential for wave energy. Barbados has set a net-zero by 2030 goal, but like most islands in the Caribbean region it cannot cover all its needs with wind and solar PV and other renewable energy sources are needed.

Besides Barbados’ large need for renewables to lower its dependency and exposure to fossil fuel price shocks, the island is scarce of freshwater, the Danish company notes.

Under the acronym WEB (Wave Energy in Barbados), Wavepiston and Export Barbados will perform a pre-feasibility study for the deployment of wave farms in the Atlantic waters of Barbados.

The project is planned to commence in the second quarter of 2024.

“Due to the diligent work by resources within the Export Barbados’ Inez Oceans Unit, we have managed to write a strong plan and secured warm relations on the Island of Barbados,” Wavepiston said.

Wavepiston noted that it had made another successful grant application, this time with the Eureka Network: INNOWWIDE Call 2.

Related Article

INNOWWIDE is a Horizon 2020 project that aims to fund at least 120 European innovative SMEs and start-ups to conduct viability assessment projects (VAPs) in markets outside of Europe in cooperation with local stakeholders.

It includes two calls with a total budget of €7.2 million, allowing funding for 120 VAPs, and targeting markets of developing countries, large emerging economies, and developed countries.

Subscribe and follow

Offshore Energy – Marine Energy LinkedIn