WSE targets $12M for wave energy device

Illustration (Image: flickr/Codex41)

 
Wave Swell Energy (WSE) is reportedly looking to raise Au$12 million to develop a wave energy array in Australia.

WSE is eyeing King Island, off Tasmania, to deploy its first wave energy plant, with the plans to spend Au$5 million for such undertaking, according to The Australian.

Its wave energy technology has been under development in cooperation with the Australian Maritime College (AMC) in Tasmania, and with the Au$12 million the company is looking to raise starting from next month, WSE would secure enough funding to develop King Island project and prepare for the delivery of other projects, the Australian reports.

WSE’s shares to be issued amount to 2.5 million, at Au$4.80 each, the Australian informed.

Share this article

Follow Marine Energy

Events>

<< Apr 2018 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

ICOE 2018

ICOE 2018 will gather the world of Marine Renewable Energies in Cherbourg, Normandy…

read more >

Waterpower Week 2018

This 3-day jam packed event provides you the opportunity to network, learn about legislative and regulatory initiatives, and discuss…

read more >

All-Energy Exhibition & Conference 2018

All-Energy is the UK’s leading renewable energy and low carbon innovation event, showcasing the latest technologies and services…

read more >

NSRI Mastermining: Wave and Tidal Workshop

The event shall present the market challenges and highlight technical and cost reduction opportunities…

read more >