Seabased is a global leader in the growing wave energy market. Our patented, turnkey technology delivers renewable energy from ocean waves to the grid. We have recently signed a 100 MW contract and are competitively priced in our target markets.
Seabased is a global leader in the growing wave energy market. Our patented technology delivers renewable energy from ocean waves straight to the grid.
Our passion is to supply renewable, sustainable energy that’s accessible to large populations in a way that’s cost-competitive, and gentle on the environment.
A clean energy technology firm on the brink of commercialization, Seabased’s solution is attracting global interest because it generates a lot of power with relatively small waves, seldom requires batteries, is virtually invisible, and creates artificial reefs that can benefit marine animal and plant life. The parks have no pollutants, no dangerous moving parts.
Our market traction includes a 100 MW/ close to $200 million signed contract for a wave power plant in Ghana and an additional 100 MW in the pipeline through 3 projects in final stage negotiations, with a current visible opportunity over $32 billion (18,000 MW). We are working toward an IPO on a Nordic stock exchange in 2018.
Who We Are
Seabased technology began as the brainchild of Swedish inventor and electrical engineering professor Mats Leijon, whose scientific and technical achievements have won global recognition, and his colleague, professor Hans Bernhoff. Since they co-founded the company in 2001, their efforts have been joined by those of more than 20 PhDs, and experts in fields like subsea construction and manufacturing efficiency, as well as the Swedish Energy Administration and Finnish energy company Fortum. The result is the world’s first multi-generator, grid-connected wave park, backed by more than 20 families of patents. It’s a proven system that has been deployed, tested and refined in diverse locations from Sweden to Ghana.
We built our own factory in Sweden, where we constantly evolve our processes to save both time and money, while producing a robust wave energy solution that can withstand storms at sea.
We have been ocean testing for over 10 years and have pilot experience managing every aspect of our turnkey wave park projects from feasibility study and design to permitting, engineering, manufacture, installing, and connecting the park to the grid. This experience has been excellent preparation for commercialization.
Benefits of Seabased Wave Energy Solution
-Works 24/7, 365
-Rarely requires batteries to store the energy
-Requires virtually no land use
-Has no pollutants or blades that harm the environment or wildlife
-Can create artificial reefs to protect wildlife
-Produces a lot of power per square meter
-Is almost invisible from the shore
-Has proven adaptable to different environments
-Can withstand storms
-Is cost competitive in many markets today
What We Do
The hallmark of Seabased technology is its robust simplicity. The energy of the waves is collected by huge steel buoys. The buoys transmit the energy through a steel line to generators on the seabed that convert it into electrical energy.
That energy then moves, through cables, to a switchgear which converts it into power suitable for grid use. From there, cables carry that electrical energy to the grid.
-Optimized for moderate wave climates
-Mechanically simple with few moving parts
-Modular “plug & play” design saves costs, increases flexibility, reduces risk, and allows cost recovery to begin quickly.
Why We Do It
We believe in abundance. We believe you should dream big, and power those dreams with affordable, renewable electricity.
We love the challenge of creating technical solutions that create a triple win for people, planet, and profit.
Reasons to Invest in Seabased
The wave energy industry is in its infancy, with many companies working on solutions. Seabased is a global market leader and one of only a handful of wave power companies worldwide that are nearing commercialization.
Market leader: In a market where only a few companies have proven their technology in full-scale ocean tests, Seabased has completed 2 pilot projects with turnkey multi-generator parks. We have created a solution that’s good for people and the planet, built a manufacturing plant to produce it, tested it in several environments for a total of more than 4.5 years of generator operation We’re experienced at upscaling production and incorporating end-to-end manufacturing processes in our own factory.
Cost Competitive: Even in these early stages of commercialization, Seabased wave power can be cost competitive. In coastal markets with an attractive wave climate, we are less expensive than diesel and can often out-compete other renewables—including solar and wind—on price. This is driving huge global interest.
Enormous market: Seabased’s commercial entrance market includes shoreline regions with 1-3 m waves and a cost of electricity at or above about $10 cents per kWh. Seabased has a signed contract for 100 MW (close to USD $200 million) with TC’s Energy of Ghana and is currently in late, or final stage, negotiations with other customers for utility scale commercial contracts for an additional 100 MW / USD $200 million. Our pipeline of projects is over 2,500 MW or $4.5 billion USD and our current visible opportunity amounts to over $32 billion USD (over 18,000 MW).
Ready for commercialization: Beyond extensive testing of our generators, we have the whole system experience that is essential for commercial installations.
Gentle on the environment: The manufacture, installation and use of Seabased wave parks fulfill all of Sweden’s 16 ambitious environmental quality objectives and the 17 UN Sustainable Development Goals that can be understood to relate to wave energy. Because they are protected areas, Seabased wave parks become artificial reefs, a sheltering ground for marine wildlife. We can add custom details to the installation that foster the habitats of desired species.
Numerous studies have examined the environmental impact of Seabased wave parks. The preponderance of evidence points to Seabased’s contribution to helping marine animal and plant life thrive. While the minimal noise of the system is audible to nearby marine life, it does not seem to disturb their behavior.
-Parks are protected areas that become marine wildlife reserves
-The installation can be built with features to attract desired speciesi
-No emissions or fuel costs during operation
-No pollutants, including no oils and no chemicals needed for cleaning
-No dangerous moving parts
-Materials tested safe for subsea saltwater installation
Ocean waves gather, store, and transmit energy for thousands of miles with little loss. They are very predictable and in many places are also very stable, working essentially 24/7 all year around.
Waves are an impressive energy resource; they deliver greater power per square meter than many other renewables. Research shows you get a lot more energy out of every per square meter you allocate for wave energy, relative to wind and solar.
-Wind produces 400-600 W per square meter
-Wave produces 2000-3000 W per square meter
Wave power only requires enough land for grid connection, and in many environments, it can provide what’s called a stable base load to the grid; no batteries are needed. Because wave parks can often be located close to the grid and the end consumers, little is lost in transmission.
Though wave power has been recognized for generations as a potential source of significant energy, we are only now developing the technologies that overcome the obstacles presented by a varied and turbulent ocean environment.