Perpetuwave Power says that a £63 000 grant from the European Regional Development Fund Convergence Programme will help it to develop its wave power technology.
The UK division of the Australian renewable energy firm will use the cash to trial a prototype of its Wave Harvester technology in Cornwall, south-west England. It believes its wave energy converter to be the most efficient in the world.
Perpetuwave's Wave Harvester converts up to 40 per cent of energy in ocean waters to electricity. It plans to open an office in Cornwall and work closely with the University of Exeter to develop the prototype and test its performance.
"These authentic results can then be used to reliably forecast electricity generated, and revenue of commercial projects", said Glen Dullaway, CEO and Managing Director of Perpetuwave. "The major outcome of the project is to position Perpetuwave to advance to a full scale pilot power plant as the final step in the technology authentication phase."
Perpetuwave Power has been actively developing its world leading Wave Harvester technology for approximately 10 years and has systematically improved performance and authenticity of performance results. Perpetuwave has more recently also been working with a number of world leading organisations to fast track commercialisation of the technology.
A scale prototype has been purpose built for the testing programme and has passed preliminary testing.
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