Denmark’s Wavepiston has opened its next capital raise with the aim of supporting the critical objectives of operating its full-scale wave energy system, among other things.
Wavepiston reported that it had on February 8 installed its first full-scale energy collector on the Wavepiston string at the Oceanic Platform of the Canary Islands (PLOCAN) in Gran Canaria.
According to the company, the capital raise will support the critical objectives of operating the full-scale system, further technology refinement, and expanding the commercial project pipeline.
The equity issue is scheduled from February 16 to March 1.
Wavepiston’s wave energy system consists of energy collectors placed in the ocean which produce pressurized seawater which is transported to the shore where power generation and reverse osmosis units for desalination are located.
The energy collectors are designed by Wavepiston and manufactured by Thune Eureka.