WaveX Founder Simon Renwick
An Australian technology business supported by Perth’s Centre for Entrepreneurial Research and Innovation (CERI) has developed a unique solution to harness wave energy by utilising an already-proven structure from the oil and gas industry.
WaveX aims to become the first company to successfully produce a new type of power generator – to harness the power of ocean waves.
“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,” says WaveX Founder Simon Renwick.
“It’s like having the world’s largest iron ore reserves without the equipment to mine it,” he says.
“Other companies have spent a lot of time on research and development of wave energy technology but haven’t been able to scale to the level required to become commercial. WaveX is different because we’ve adapted a structure from oil and gas, so that ability to scale already exists via an established supply chain,” says Mr Renwick.
He came up with the solution while working as an offshore construction engineer on a floating oil rig.
“At two o’clock in the morning, we were doing a big lift, lowering a 100-ton steel tube into the water, and I remember how visceral it was – the lights, the roll of the rig, and the movement due to the waves ” he says.
“As we pumped water into the tube to sink it, the tube started heaving in resonance with the passing waves. We only had 1m waves and this structure was heaving more than 5m, it hit me that this was the way to harness the power of wave energy.”
The D-Spar Wave Power Generator uses already-proven moorings, power cables and fabrication facilities developed by the oil and gas industry, allowing it to be commercialised faster and more cost effectively than alternate systems. It also avoids any underwater moving parts, and is floating so there is minimum disturbance to the seabed unlike offshore wind turbines.
“It’s a simple concept, grounded in oil and gas engineering, but it could revolutionise wave energy,” Mr Renwick says.
Tank testing at the University of Western Australia has already shown the D-Spar works.
WaveX is currently raising $3.5M to deploy a large-scale prototype of its innovative technology in the ocean off Albany, Western Australia in 2025.
The 10 metre long prototype made out of 40 tonnes of steel will have a 30 kilowatt capacity, the equivalent to 6 residential solar rooftop installations. The real impact will be delivered once the device is deployed in full commercial application.
“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,” says Mr Renwick. “That means each of these larger wave energy devices could produce around three megawatts, enough to power approximately 500 homes. Multiple devices together could power entire towns.”
“The real game changer will be the effect our technology will have on the power grid overall. We can fill-the-gaps left by the intermittency of wind and solar. Having all 3 renewable energy sources combined results in much higher overall levels of renewable electricity. It also helps to navigate seasonal variation because during winter when wind and solar resources are less, wave energy is at its peak.”
WaveX is supported by Perth’s Centre for Entrepreneurial Research and Innovation (CERI), a not for profit social enterprise set up to help and mentor innovators to move their ideas from the prototype phase and into the real world.
“We’re really excited to have been able to help WaveX develop their research into a model that will be a gamechanger for renewable energy production in Australia and potentially around the world, “says CERI CEO Toby Swingler.
“Often innovators lack the know-how to commercialise their research and that’s where we step in and help,” he says.
“We’ve already successfully helped more than 100 startups get off the ground and have had more than 1000 students undertaking our programs,” he says.
WaveX is a finalist in this year’s WA Innovator of the Year competition in the Woodside Energy Platinum Category for Energy Innovation, and recent winner of the industry award with Subsea Energy Australia – Innovation in the Energy Transition 2024.
The company is also a finalist in the Technology and Innovation element of SXSW Sydney.
About WaveX
WaveX, based in Perth, Western Australia, is a leader in wave energy technology. Its proprietary D-Spar system leverages the team’s knowledge from over 150 years of combined offshore engineering experience, taking the immense power of ocean waves and converting it to clean, renewable electricity using already-proven components from the oil & gas industry.
About the Centre for Entrepreneurial Research and Innovation
CERI is a social enterprise supporting the next generation of Australian entrepreneurs. It was founded in 2015 by the Bass Family Foundation and 2024 WA Senior Australian of the Year Charlie Bass, who wanted to ensure a more sustainable future for business. Our programs are curated to educate and empower early stage entrepreneurs, PhD students and visionaries. We offer a range of services from education to mentorship, workplace residency, industry exposure and access to an extensive network of experts and like-minded people.
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