Havkraft, a Norwegian based wave energy developer, has recently deployed its prototype wave power device off the coast of Norway, and is looking for the funds to build a full scale demonstration plant.
In 2012, Havkraft received little over EUR 500,000 in funding from Innovation Norway, which helped the developer to recently launch its first full-scale prototype of wave power device outside Selje, Norway.
“We may have spent a little more time than expected, but technologically we have not encountered any problems. For me this is pretty special,” Geir Arne Solheim , CEO of Havkraft, said.
The prototype utilizes all wave sizes ranging from 20 centimeters of height and upward, which ensures nearly constant production of electricity.
In order to build a full scale demonstration plant, additional EUR 2,4 million is required. The plant would have the capacity of 1 MW when put into operation, and be five time as large as the prototype.
“We need someone who is interested to invest in a project that has enormous potential globally, considering that 70 percent of the earth is covered by sea,” Solheim added.
According to Solheim, the amount of funds necessary to commence with the demonstration project is between EUR 335 000 and EUR 560 000. He said that the company hopes to initiate the project in 2015, and complete it in 2016.
Havkraft is a technology company that was founded in 2010 and is located at Raudeberg, Norway. The company has developed and patented Wave Energy Converter (WEC H), which is an energy conversion technology used in wave power electricity generation.
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Tidal Energy Today Staff; Image: flickr/Chris Hartman