Scottish wave energy specialist ZOEX, led by Ash Penley, has secured £531,000 in funding to expand its innovative wave energy technology. This financial boost comes from private investment from Equity Gap, the University of Strathclyde and Scottish Enterprise, and triggers an additional £196,000 from Innovate UK.
International validation of wave energy technology
Following initial successful trials in Aberdeen harbor, the 100 kW prototype will be deployed for a year in the waters off Ordu, Turkey. The objective is to evaluate the performance of the system under real and seasonal marine conditions. Collaboration with OREN Enerji AS and technical support from Malin Group and Applied Renewables Research strengthen this testing phase.
The ZOEX technology technology aims to replace diesel generators in sectors requiring autonomous solutions such as aquaculture, offshore wind, oil installations and remote ports. The system’s compact design, based on a patented articulated arm and rugged floats, allows for versatile installation in different coastal infrastructures.
Female leadership in marine technology
Founded by a former oil industry professional, ZOEX is the first British wave energy company led by a woman. Penley has been instrumental in the vision of bringing this clean technology to a global scale. Her proposal responds to the need to diversify the energy matrix with high-density renewable solutions, such as ocean energy.
ZOEX plans to start commercial operations by the end of 2025. The global wave energy wave and tidal energy and tidal power market is projected to grow from $1.3 billion in 2024 to nearly $20 billion in 2032. The company is positioned to address both niche demands and grid-level deployments.
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Source and photo: Aberdeen Business News
