COMPETITION

To make a significant impact, you need the tools to make it happen. Our tool is our wave energy power technology. Our solutions can produce electricity onshore, nearshore and offshore to consumers worldwide, ensuring clean, affordable, sustainable and nature-friendly energy for all.

Our solutions offer several advantages over other wave energy technologies.

Wave

  • Is highly adaptable and can be used almost anywhere with close to 100% uptime.
  • Can deliver electricity without the need for government subsidies, thus representing a viable and profitable solution with a favourable rate of return.
  • Offers a clean energy source that has little to no environmental impact on the surrounding ecosystem with negligible noise.
  • OceanONE is the only wave power technology that has two highly effective WECs to accommodate a broad spectrum of wave frequencies and also increase the absorption surface area.
  • Has no moving mechanical parts in contact with the sea.
  • Multiple chambers with different depths and angles make it possible to harness a wide range of wave frequencies.
  • The converter’s independence of carrier makes it possible to adapt solutions to the client’s demands.
  • Scaling in size makes it possible to adjust the converter to any climate wave size. Scaling in width through a module-based system makes it possible to reach desired energy uptake.
  • A bankable and insurable solution.
  • We are not only in competition against other wave energy companies. With our goal of being the preferred supplier of sustainable, renewable and affordable energy solutions to coastal operations worldwide we must offer attractive solutions compared with other renewable energies such as solar and wind.

Solar

  • The worldwide daily average value of solar irradiance across the whole planet over one day is equal to approximately 5 kilowatt hours (kWh)/m2/day.
  • Average panel conversion efficiency 20–22%.
  • Levelized cost of energy average around USD 0.354/kWh (Bellini, 2020c) for utility-scale FPV power plants. As low as USD 0.051/kWh has been achieved (lake).
  • 1 MW solar power plant requires 12 500–16 000 m2.
  • 1 MW OceanONE power plant requires 600 m2.
  • Floating solar power plants will occupy large ocean areas and darken the ocean beneath. They must also withstand harsh weather conditions.
  • Similarities: bearing and floating structure, power electronics, mooring.
  • Differences: solar panel – converter, turbine, generator.
  • One H-WEC equals around 400 solar panels. An OceanONE has 3 H-WECs (1 200 solar panels).

Wind

  • Wind turbines comes in sizes from 90 metres to 300 metres (2–10 MW capacity).
  • A wind turbine is typically 30–50% efficient.
  • The capacity factor of a wind turbine is its average power output divided by its maximum power capability. On land, capacity factors range from 0.26 to 0.52.
  • Offshore the capacity factors are higher on average (expected to reach 51% by 2022 for new projects), but offshore wind farms are more expensive to build and maintain.
  • Total CAPEX = USD 3,223,000/MW.
  • Annual average OPEX = USD 103,000/MW.
  • Lifetime = 27 years.
  • Net annual average energy production = 4,471 MWh/year/MW.
  • One wind turbine requires about 3 km2 (7 rotor diameters).
  • 1 MW OceanONE power plant requires 600 m2.
  • Co-locating wind and wave energy will be beneficial for both parties. A wind farm has large unused areas where wave power can be installed. As it uses the same infrastructure, you will get an increased energy yield at a lower cost.