Exowave, a Danish wave energy technology company, has partnered with AquaX Energy Americas to establish a joint venture (JV), AquaX JV, to deploy wave energy solutions across North America, Central America, South America, and the Caribbean.
According to Exowave, this partnership targets the implementation of Exowave’s wave energy converter (WEC) technology in the Americas, focusing on sustainable energy generation and water desalination.
The JV’s roadmap includes launching demonstrator projects along the U.S. coastline, with initial sites selected in Monterey, California, and Virginia Beach, Virginia, the company noted.
These projects are said to serve as a proving ground for Exowave’s technology, enabling validation of its performance, efficiency, and commercial viability before scaling up to a 20 MW project pipeline slated for completion by 2030.
“This partnership marks a significant milestone in renewable energy innovation. By integrating Exowave’s advanced technology with AquaX’s market expertise, we are poised to deliver transformative solutions for energy and water security. AquaX JV LLC will redefine how coastal, and island communities access sustainable resources while mitigating climate challenges,” said Oliver E. Jones , President of AquaX Energy Americas and Co-Founder of AquaX JV.
According to ExoWave, the technology deployed by AquaX JV promises to deliver clean electricity at a competitive rate of $60 per megawatt-hour and potable water through desalination systems at less than $0.50 per cubic meter. Additionally, the venture expects to create over 500 jobs in installation, maintenance, and operations by the end of the decade.
Lars Wigant , Chief Executive Officer of Exowave Aps and Co-Founder of AquaX JV LLC, said: “We are thrilled to collaborate with AquaX Energy Americas to bring our Wave Energy Converters to the Americas. This joint venture represents a leap forward in achieving global scalability for wave energy and desalination solutions, combining the strength of our European innovations with AquaX’s deep understanding of regional markets.”
AquaX JV aims to support coastal and island communities with sustainable energy and water resources while aligning with the U.S. sustainable development goals, the company noted. The JV’s environmental benefits are said to include near-zero carbon emissions and minimal ecological impact. In 2023, Exowave signed a cooperation agreement with Gugler Water Turbines for a wave energy project planned for the Danish North Sea.