Wave Tidal Market

Company Headquarters: Sydney, Australia Founded: 2006 Workforce: ~50 Company Working: BioPower Systems Pty Ltd (BPS) is engaged in developing marine renewable energy technology. It offers products for harvesting energy from both, wave and tidal energy. The equipment offered by the company for harvesting wave and tidal energy uses a similar energy conversion technology. It is strategically located in Australia where the intensity of tidal waves is generally high throughout the year. The company’s manufacturing facility is located in Australia. It has also operated numerous pilot projects in Australia to improve the efficiency of its equipment

Company Headquarters: Orkney, UK Founded: 2002 Workforce: ~30 Company Working: In October 2018, Scotrenewables Tidal Power Limited was renamed as Orbital Marine Power. Its manufacturing facility is based in the UK. Orbital Marine Power is involved in the business of fabricating, assembly, installation, operation, maintenance, and decommissioning of floating tidal technology. After nine years of R&D, it launched its first prototype in 2011, following which it has been receiving substantial investments from investment companies for the development of the technology. For instance, in January 2019, the company raised funds of about USD 8.26 million through crowdfunding. These funds will be used to build its tidal stream turbine commercially.

Company Headquarters: Glasgow, UK Founded: 1997 Workforce: ~20 Company Working: Andritz Hydro Hammerfest is engaged in manufacturing turnkey tidal power arrays for the global market. It operates through two segments, which are products and services. The company offers tidal turbines under its products segment. Under its services segment, it also offers various services such as feasibility assessment, engineering, designing, manufacturing, commissioning, service, and maintenance. Its manufacturing unit is located in Glasgow. Andritz Group (Austria) and Iberdrola (Spain) are shareholders in the company and have extended substantial assistance to the company for developing tidal energy harvesting systems.

Company Headquarters: Taipei, Taiwan Founded: 2014 Workforce: ~50 Company Working: Aquanet Power designs, manufactures, and supplies wave energy conversion technology. It offers a number of products for converting wave energy into electricity. The company uses oscillating water columns technology in all its products. In addition to offering wave energy harvesting systems, it also manufactures power take-off equipment, which are used for converting wave into electrical energy. The company has its sales offices in Taiwan, China, Ireland, and the UK. Its manufacturing unit is located in Taiwan. It serves various industries including desalination solutions, coastal defense & security, offshore platforms, and remote island energy & water.

Company Headquarters: Jarvenpaa, Finland Founded: 2002 Workforce: ~150 Company Working: AW Energy OY is engaged in manufacturing equipment for harnessing wave energy. Its flagship product, the Waveroller, is a submerged wave energy harnessing technology, which is based on a hinged panel that is attached to the sea bed. This technology generates electricity from the surge phenomenon of sea waves. The company’s manufacturing facility is located in Finland. It has collaborated with many major industrial companies including Lloyds Register Group Services Limited (UK), Wartsila (Finland), and DNV GL (Norway).

Company Headquarters: Kfar Saba, Israel Founded: 1979 Workforce: ~50 Company Working: Yam Pro Energy is engaged in developing clean renewable energy from ocean waves. It designs, manufactures, installs, and maintains equipment related to renewable energy generation. The company specializes in manufactures onshore floating systems for harnessing energy. This drastically reduces the costs of operating and maintaining onshore equipment in comparison to offshore systems. It tested its first prototype in 2010, following which in 2014 it brought the patents for WERPO and SDE technology. The company has sales offices and manufacturing facilities located in Israel. However, it has obtained several contracts for installing the technology in other countries.