Danish clean energy technology start-up Exowave has secured a DKK 14 million (around €1.9 million) grant from the Energy Technology Development and Demonstration Program (EUDP) for its project that combines wind and wave energy.
The grant will be used for the development of the company’s demonstration plant that will be located at a water depth of 14 meters in the North Sea.
Exowave and wind turbine supplier Siemens Gamesa have signed a letter of intent (LOI) to develop a combined wind and wave energy farm of respectively 588 MW + 250 MW in 2026.
According to the start-up, with this recent award, the development of its wave energy technology can continue its development.
“We are very pleased that the next phase of our technology development will also be anchored in Denmark in a development environment that will strengthen not only the Danish growth layer within wave energy, but also the entire offshore sector which in these years must move jobs and investments from the old fossil offshore energy sector to new green jobs at sea within the next generation of renewable energy,” said Martin Dahl, chairman of the board at Exowave.
“Exowave has an exponential development and learning curve in the goal of reaching 250 MW of wave power in the North Sea by 2030 and involves the most experienced and visionary specialist competencies in offshore, green energy and new technology. ”
Semco Maritime is the EPCI contractor for the project, while Offshore Center Danmark, MDT, DanWEC and Aalborg University are also participating.
The Exowave wave energy technology is based on the oscillating wave surge converter that extracts the kinetic energy from the ocean waves through bottom-hinged flaps.
The technology can be coupled with complementary market solutions to produce green electricity, cooling of data centres, fresh water for households, agricultural and industry use.
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