Bombora Wave Power, which started out life in Perth, Western Australia, but now bases itself in Pembroke Dock in Wales, has received a £3.54 million ($A6.68 million) investment designed to accelerate the commercialisation of its mWave energy technology.
The investment comes from leading Japanese global maritime transport group Mitsui O.S.K. Lines (MOL), the Japanese shipping giant that operating a global fleet of more than 700 vessels including tankers, bulkers, car carriers, and ferries, and also supports other offshore technology projects.
“Bombora is a company at the forefront of innovative wave technology and we are very happy to be continuing to work with Sam and the team,” said Yasuo Suzuki, corporate marketing division general manager at MOL.
“We see great opportunities for mWaveTM technology to provide a significant contribution to the renewable power generation mix in Japan and Asia.”
The investment follows 18 months of close collaboration between the two companies and will be used to complete a 1.5MW mWave validation project due to be installed off the coast of Wales in the coming months.
Bombora’s mWave technology consists of a membrane style wave energy converter which seeks to address several wave energy technology constraints, including the cost of energy and survivability in ocean conditions, all while still delivering a utility-scale solution.
Bombora is also working with global EPCI contractor TechnipFMC on incorporating its mWave technology into the offshore wind foundations of the InSPIRE project. The partnership, signed in April of 2021, will look to develop a 6MW hybrid floating wave and offshore wind generation platform.
Next on the cards for Bombora is a 14MW demonstrator project consisting of a 4MW mWave converter and a 10MW wind turbine integrated together on a floating platform.
It will then seek a pre-commercial demonstration of a similar 18MW project, which will consist of a 6MW mWave converter integrated on a floating platform with a 12MW wind turbine.
“Renewable energy supply is one of the big issues we’ve yet to fully tackle as a society,” said Sam Leighton, managing director at Bombora. “We are confident that our technology can contribute significantly to this market by delivering consistent and predictable renewable power.
“We have worked closely with MOL over the last 18 months and are delighted to strengthen our relationship through this investment. MOL bring invaluable expertise in marine operations, local industry supply chain knowledge and can provide support in project development in Japan and across the region.
“The MOL investment underpins Bombora’s wider capital raising initiatives to propel the company through the next phase and for delivery on commercial projects.”
