French wave company HACE raises €700K for wave prototype

HACE wave energy concept (Image: HACE)

Hydro Air Concept Energie (HACE) has raised around €700,000 which will be used to test its wave energy prototype later this year.

The company is currently conducting a fundraising campaign on the Happy Capital investment platform targeting €869,000, where it has already secured €332,400, with 42 days left until the campaign closes.

In addition to the funds raised so far, the company has received the contribution of €300,000 from an unnamed investor, along with the funding from other minority investors, reaching the total amount raised of around €700,000, according to the French financial newspaper La Tribune Bordeaux.

HACE has over the course of past 4 years been developing a wave energy technology that divides the swell to recover energy from all types of waves, with the ability to produce power starting from waves 30 cm high.

With the already secured funding of €700,000, HACE plans to build a small prototype, aiming to deploy it in September this year, La Tribune Bordeuax reports.

Take a look at the video showing how HACE wave energy device works.

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