Wavepiston

Wavepiston is on the mission to bring wave energy to the world replacing fossil fuels with renewable energy and ensuring more drinking water.
 
The company was founded in Denmark in 2014 by Kristian Glejbøl, Martin von Bülow and Michael Henriksen. With Kristian and Martin focusing on the technical parts, and Michael focusing on the financial and commercial parts. Wavepiston has a Spanish subsidiary and a total of 12 people working in the company plus a professional board of directors.
 
Wavepiston has developed a patent protected and proven breakthrough technology to produce low-cost electricity optionally in combination with desalinated water.

Key highlights to date:

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• Technology: Low-tech patent protected system producing clean electricity and desalinated water via a standard hydropower turbine and reverse osmosis system.
   

• Maturity: The first full-scale system is being demonstrated in the Atlantic Ocean off the coast of Gran Canaria, Spain. Planned deployment of the first MW scale wave energy farm in 2027.
   

• Commercial: Wavepiston is entering their commercialization phase, where they are currently engaging with commercial sites and partners to create a strong market pull and pipeline.
   

• Market potential: Wave energy could cover 1.1x of global electricity demand, which is expected to grow 3x by 2050 to reach ~80k TWh. Hence, wave energy is needed as the third large renewable energy source next to wind and solar.
   

• Levelized Cost of Energy (LCOE): Wavepiston’s solution will significantly lower the LCOE for wave energy to reach 39 EUR/MWh in the next 10 years, ensuring competitiveness with conventional energy sources and complementary value to other renewables.
   

• Levelized Cost of Water (LCOW): Wavepiston’s solution will significantly lower the LCOW to reach 0.25 EUR/m3 in the next 10 years, ensuring competitiveness with conventional methods.
   

• Financial projections: Wavepiston anticipates generating EUR 1-2bn in revenue by 2035 and realize positive cashflows from 2030.
   

• Capacity buildout: with the current funding round, Wavepiston will scale their capacity to accelerate the commercialization and technology development journey to meet the rising demand for green power and realize sold capacity of 3.5-5.5 GW by 2035.