Wave energy developer Eco Wave Power has paid the first installment, 50% of the grid connection fee, for its planned 1 MW wave energy station in Porto, Portugal. The payment was made to E-REDES, the Portuguese electricity distribution system operator. Eco Wave Power also formally accepted the Connec
The U.S. Testing Expertise and Access to Marine Energy Research (TEAMER) program has approved 17 marine energy projects through its fifteenth request for technical support (RFTS), allocating over $2.3 million in assistance. Technical support recipients (TSRs) will gain access to numerical modeling,
French engineering group Setec has acquired a majority stake in UK-based Sealand Projects, strengthening its marine engineering and offshore wind capabilities. According to Setec, the acquisition expands the company’s service offering in the marine renewables sector and enhances its presence in the
Australia’s wave energy developer Carnegie Clean Energy has secured a contract with the Biscay Marine Energy Platform (BiMEP) to install and test its CETO wave energy technology in Spain. The agreement, signed by Carnegie’s subsidiaries CETO Wave Energy Ireland and Carnegie Technologies Spain, final
Balmoral Comtec, part of Balmoral Group, has invested £1 million (approximately $1.3M) in a new wave and current simulation facility at Balmoral Business Park in Aberdeen. According to Balmoral Comtec, the facility is designed to simulate surface, subsea, and seabed conditions for testing offshore
Sweden’s Ocean Harvesting Technologies has launched a €200,000 financing round to support further development of its InfinityWEC wave energy converter (WEC) in 2025. The move is part of a larger €700,000 capital requirement for 2025-2027. InfinityWEC is currently being developed under two EU-funded
Renewable energy company WaveGen Energy has completed testing of its 200 W proof of concept (POC) at the National Institute of Technology Karnataka (NITK), demonstrating wave energy technology that could surpass current efficiency standards in the sector. According to WaveGen, its patented technolog
Swedish wave energy developer CorPower Ocean has secured funding from Sweden’s national innovation agency, Vinnova, to integrate artificial intelligence (AI) into its wave energy technology in collaboration with the Norwegian University of Science and Technology (NTNU). According to CorPower Ocean,
Australian company Wave Swell Energy (WSE) has validated its 200 kW wave energy converter (WEC) on King Island, Tasmania, demonstrating the effectiveness of its unidirectional oscillating water column technology. Following this milestone, WSE has opened an investment round to support its next growth
Australian wave energy company WaveX is seeking a SEED investment round to fund the next development phase, aiming to scale up its wave energy technology. The company plans to deploy a large-scale steel prototype in southern Western Australia to demonstrate consistent and reliable electricity produc
Danish wave energy firm Wavepiston has secured a €900,000 investment from two professional investors through The Blue Line, a Dutch joint venture (JV) company. The Blue Line is backed by Connect the Drops, a Dutch investment fund focused on the water sector, and Unknown Group, a venture capital firm
Tidal energy developer Normandie Hydroliennes’ NH1 tidal energy project has been awarded €31.3 million in funding from the European Union’s 2023 Innovation Fund. According to Normandie Hydroliennes, the grant will accelerate the deployment of one of France’s first commercial-scale tidal energy pilo
Australia’s wave energy developer Carnegie Clean Energy has received a €317,945 “milestone payment” from the Basque Energy Agency (Ente Vasco de la Energía – EVE) for its ACHIEVE+ wave energy project. The company’s subsidiary, Carnegie Technologies Spain, secured the payment under EVE’s grants progr
Swedish tidal energy developer Minesto has been selected to participate in the Global Innovation Accelerator (GIA), a program funded by the Swedish Energy Agency and operated with Business Sweden. According to Minesto, the initiative supports companies with an international market strategy that con
