Canadian company Voltai has secured $1.83 million for its wave energy tech designed to power ships. The company will use the funding to accelerate technology development and commercialization within the maritime sector.
Voltai said that its electrostatic generators capture kinetic energy from waves and vessel movements, converting it into electricity. Designed for onboard use, the system can be installed on moving vessels without drag, making wave energy practical at sea.
The round was led by Invest Nova Scotia with participation from an angel investor group headed by Mahir Sahin, former advisor to Alphabet’s Moonshot Factory X (formerly Google X) and founder of Cloudberry Ventures.
“Harnessing the energy potential of waves has long posed significant challenges. Voltai’s electrostatic generator, with its unique energy conversion mechanism, addresses these challenges head-on to make wave energy conversion efficient and cost-effective,” said Jen Fuccillo, Investment Principal at Invest Nova Scotia.
With the pre-seed closed, Voltai is now preparing for a seed round to expand and scale its wave energy solutions in the global maritime energy market.
“This funding allows us to fast-track our development and bring real, scalable solutions to a sector that urgently needs them,” said Maja Maher, CEO and Founder of Voltai.