Aberdeen-based wave energy company ZOEX has secured £531,000 funding which will support long-term sea trials to validate the technology’s reliability in real-world marine environment before commercially deploying at the end of 2025.
ZOEX’s design allows it to be used as stand-alone wave power or be mounted onto any marine structure such as a pier, aquaculture installment, floating wind installation or vessel. It can be raised for maintenance or submerged in stormy conditions. The 100 kilowatt full scale prototype, which was tested in Aberdeen Harbour last year, will now be transported to Ordu, Turkey and tested there for a year to assess the seasonal performance differences.
The funding came from Equity Gap, The University of Strathclyde and Scottish Enterprise.
“This investment is a huge step forward for ZOEX and for women in marine energy,” said ZOEX founder Aslihan Penley in an article in Scottish Financial News which said Penley is UK’s first woman founder in wave energy. “Our technology has been designed not just to survive at sea, but to thrive efficiently, sustainably, and at scale. We’re grateful for the latest backing from Equity Gap, Scottish Enterprise and The University of Strathclyde, who share our vision for a cleaner, more resilient energy future.”
Wave energy devices capture the power of ocean waves, the largest unused renewable energy source on the planet. The total theoretical wave energy resource worldwide stands at an 30,000 TWh/year. Wave energy is extremely dense and highly predictable, making it easy for grid operators to incorporate.
“Our investment in ZOEX underscores our commitment to creating an internationally competitive energy transition industry in Scotland,” said Derek Shaw, director of entrepreneurship and investment at Scottish Enterprise. “By supporting ambitious companies in areas such as wave energy we can help them drive innovation and capitalise on the significant economic opportunities linked to the shift from the production and consumption of fossil fuels to sources of renewable energy.”
