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The use of wave energy as a source of renewable energy is emerging sector. According to calculations conducted by the World Energy Council, the reserves of wave energy are significantly bigger than the reserves of tidal energy. Their technically exploitable potential amounting to 1400 TWh/year could cover 10% of global energy demand for electricity. Exploitable potential of tidal energy comes to only 380 TWh/year.

All the existing systems of wave energy converters are in experimental phases nowadays. The best known systems are for example OPT ; PELAMIS ; AWS Ocean Energy and Wave Star Energy.

Our system, WaveNRG, can function in two versions: using the energy of ocean currents thanks to the turbine with vertical axis, with significant power output of 2-5 MW or as a wave energy converter with floats of 10-15 metres, with power output of 50 to 100 kW for every float.

Our group WaveNRG having not much financial resources focused on developing the system which functions as wave energy converter. The basic stage of research was conducted in Gdansk University of Technology. A small device in 1:5 scale was examined by the Great Wave Flume (GWK) in Ship Design and Research Centre in Gdansk. The tests and numerical simulations proved the technological advantage of the invention over other wave energy converter systems thanks to its main chief asset, namely the simplicity of system’s concept.

Currently we are searching for venture capital in order to build a sea demonstrator. We would like to test the demonstrator with improvements which we want to introduce as a result of the first stage of research. The improvements should additionally increase the system’s already good efficiency of acquiring wave energy and converting it into electricity. The results of the research conducted at sea confirming the estimated system’s efficiency should open the way to introduce our system into the world’s markets as a dominating technology of acquiring wave energy.