An innovative Australian technology company, WaveX, is poised to make a significant breakthrough in renewable energy production by harnessing the power of ocean waves.

Supported by Perth’s Centre for Entrepreneurial Research and Innovation (CERI), WaveX has developed a unique solution that adapts proven structures from the oil and gas industry to generate wave energy.

WaveX founder Simon Renwick explains: “Australia has the largest wave resource in the world, however, we’ve so far failed to shift the dial when it comes to capturing wave energy.

“It’s like having the world’s largest iron ore reserves without the equipment to mine it.”

Renwick’s inspiration came during his time as an offshore construction engineer on a floating oil rig, where he observed the potential of wave energy firsthand.

The company’s innovative technology called the D-Spar Wave Power Generator, utilises existing moorings, power cables, and fabrication facilities developed by the oil and gas industry.

This approach allows for faster and more cost-effective commercialisation compared to alternative systems.

Key advantages of the D-Spar include:

• No underwater moving parts
• Floating design with minimal seabed disturbance
• Proven effectiveness through tank testing at the University of Western Australia

WaveX is currently raising $3.5 million to deploy a large-scale prototype off the coast of Albany, Western Australia, in 2025.

The prototype, measuring 10 metres long and weighing 40 tonnes, will have a 30-kilowatt capacity, equivalent to six residential solar rooftop installations.

Renwick envisions significant potential for scaling up the technology: “At scale, our device would be four times bigger than the prototype depending on the wave resource, and they’ll generate 100 times more power.

“That means each of these larger wave energy devices could produce around three megawatts, enough to power approximately 500 homes.”

The real game-changer, according to Renwick, will be the effect on the overall power grid.

WaveX’s technology can complement wind and solar energy, helping to fill gaps left by their intermittency and navigate seasonal variations.

CERI, a not-for-profit social enterprise, has played a crucial role in supporting WaveX’s development.

CERI CEO Toby Swingler states: “We’re really excited to have been able to help WaveX develop their research into a model that will be a game-changer for renewable energy production in Australia and potentially around the world.”

WaveX’s innovative approach has already garnered significant recognition:

• Finalist in the WA Innovator of the Year competition (Woodside Energy Platinum Category for Energy Innovation)
• Winner of the Subsea Energy Australia – Innovation in the Energy Transition 2024 award
• Finalist in the Technology and Innovation element of SXSW Sydney

As WaveX continues to develop its groundbreaking technology, it stands poised to make a substantial impact on the renewable energy landscape, potentially revolutionising wave energy production in Australia and beyond.