The creators of a new type of wave energy device claim it is capable of generating cheaper electricity than any other renewable source.
The Waveline Magnet, developed by UK-based startup Sea Wave Energy Ltd. (SWEL), is a spine-like device that floats on top of the sea perpendicular to the shore in order to capture the kinetic energy of waves.
The company claims it can provide substantial power on demand at a low cost, while requiring minimum maintenance in “any wave environment”.
The Waveline Magnet has been tested in wave tanks, as well as real-world sea conditions, with SWEL claiming that its patented technology enables far more efficient energy generation than current methods.
“Wave and tidal experts must re-evaluate their thought process and understanding of the wave,” said Adam Zakheos, chief technology officer of SWEL.
“Our technology challenges the current understanding, delivering significantly greater results than competing wave energy converters. We can demonstrate to both the believers and non-believers how the Waveline Magnet is set to change the world.”
Deploying the spine-like floating device off certain coasts can even help prevent coastal erosion, according to SWEL, as it reduces the impact of waves.
The efficiency with which it generates electricity, combined with the low cost materials and ease of deployment, mean it not only competes with solar and wind energy generation, but could also undercut traditional fossil fuel sources.
Mr Zakheos said a commercial-sized device would achieve a levelised cost of energy (LCoE) of less than £0.01/kWh, far exceeding the current wave energy industry reference value of £0.72/kWh.
SWEL remains a long way from commercialising its offshore energy technology at any significant scale, however the firm is currently seeking strategic alliacnces and partnerships in an attempt to roll out the Waveline Magnet and offer it as a potential solution to the current energy crisis.
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