Branching out from the renewable energy sector is the burgeoning wave energy industry, a sustainable solution harnessing ocean's power. Companies operating in this realm offer products and capabilities for generating electricity by transforming the energy of oceanic waves. These enterprises offer services spanning development, research, conversion technologies, and project installations. In future, the industry potentially holds a pioneering role in shifting from traditional energy sources to cleaner, sustainable solutions. Moreover, with continuous innovations and advancements, these wave energy companies may revolutionize the way we power our societies.


Top 28 Wave Energy Companies

1. EMEC: European Marine Energy Centre

  • Website: emec.org.uk
  • Headquarters: Stromness, Orkney, United Kingdom
  • Founded: 2003
  • Headcount: 51-200
  • LinkedIn

EMEC (European Marine Energy Centre) is a company that provides testing facilities for wave and tidal energy developers. Established in 2003, it has attracted developers from around the globe. They offer live data, research, and facilities across various locations in the Orkney Islands.


2. Simply Blue Group

Simply Blue Group is a leading blue economy project developer focused on harnessing the power of the sea through floating wind, wave energy, and aquaculture projects. They aim to replace fossil fuels with clean ocean energy and develop sustainable sources of protein while supporting coastal economies with new projects and investments.


3. CorPower Ocean

  • Website: corpowerocean.com
  • Headquarters: Hägersten, Stockholm County, Sweden
  • Founded: 2012
  • Headcount: 51-200
  • Latest funding type: Series Unknown
  • LinkedIn

CorPower Ocean is a Swedish company focused on harnessing wave energy to power the planet. They specialize in high-efficiency wave energy technology that enables reliable and cost-effective electricity harvesting from ocean waves. With offices in Portugal, Norway, and Scotland, they design, build, and install turnkey solutions to help customers transition to clean energy. Their innovations are inspired by the pumping principle of the human heart, and they believe in utilizing nature's forces and solutions to tackle climate change and achieve a sustainable low-carbon future.


4. Opt

Ocean Power Technologies is a pioneer in ocean-energy technology, offering reliable and environmentally friendly power solutions for offshore applications. Their PB3 PowerBuoy and hybrid PowerBuoy are easily deployable and can operate in any ocean depth. They also offer the OPT Subsea Battery, a cost-effective and efficient energy storage solution. With their expertise in marine robotics, OPT provides actionable insights and intelligent maritime solutions for various industries.


5. Floating Power Plant

Floating Power Plant is a company that develops, designs, and provides unique patented technology to harness the limitless energy of the ocean. They have a floating platform that hosts wind turbines and wave power integration, allowing for safe offshore operations. The company offers innovative solutions for sustainable energy production.


6. C-Power

  • Website: cpower.co
  • Headquarters: Charlottesville, Virginia, United States
  • Founded: 2005
  • Headcount: 11-50
  • LinkedIn

C.Power delivers products to change the ocean into a power- and data-enriched environment, with a focus on reducing stakeholder and environmental impact. Their system operates offshore in various sea conditions without shutting down. They are a worldwide leader in wave energy systems, providing reliable and cost-effective energy generation and storage. Their solutions have applications in offshore energy, defense and security, aquaculture, science and research, and communications.


7. Carnegie Clean Energy

  • Website: carnegiece.com
  • Headquarters: North Fremantle, Western Australia, Australia
  • Founded: 1987
  • Headcount: 11-50
  • Latest funding type: Post Ipo Equity
  • LinkedIn

Carnegie Clean Energy is a company that harnesses ocean energy to create a more sustainable world. They specialize in CETO® wave technology, which captures energy from ocean waves and converts it into electricity.


8. Mocean Energy

  • Website: mocean.energy
  • Headquarters: Scotland, Edinburgh, City Of, United Kingdom
  • Founded: 2015
  • Headcount: 11-50
  • Latest funding type: Seed
  • LinkedIn

Mocean Energy is a company that specializes in wave energy technology and systems. They utilize numerical modeling, optimization, rapid prototyping, and tank testing to design and deliver wave energy machines that generate high levels of power in harsh ocean environments.


9. Ingine

  • Website: ingine.co.kr
  • Headquarters: Dongdaemun-Gu, Seoul, Korea (the Republic of)
  • Founded: 2011
  • Headcount: 11-50
  • LinkedIn

Ingine is a company that specializes in wave energy technology. They have developed a unique technology called INWave, which effectively harnesses wave energy in coastal areas. This innovative technology allows for the installation of power generation facilities on land without the need for expensive underwater cables, making it economically viable. Ingine aims to provide solutions to environmental pollution and increasing electricity demand through renewable energy sources.


10. Bombora

  • Website: bomborawave.com
  • Headquarters: Pembroke Dock, Pembrokeshire, Australia
  • Founded: 2012
  • Headcount: 11-50
  • Latest funding type: Debt Financing
  • LinkedIn

Bombora Wave Power is a company that aims to develop a reliable and cost-efficient electricity source using their patented mWave™ product. They are focused on unlocking the environmental and economic potential of wave energy. Their operations include offshore wind optimization, utility scale wave farms, island nation decarbonization, and oil & gas platform electrification. Bombora collaborates with strategic partners and the supply chain to make utility scale wave power a reality. Their mWave™ product is a global front-runner in multi-megawatt wave energy generation, offering significant operational, economic, and environmental benefits.


11. AW-Energy Oy - Plug into wave energy

  • Website: aw-energy.com
  • Headquarters: Vantaa, Southern Finland, Finland
  • Founded: 2002
  • Headcount: 11-50
  • Latest funding type: Series Unknown
  • LinkedIn

AW-Energy is a global leader in wave energy technology, offering sustainable solutions for the green economy. Their flagship product, WaveRoller®, is a submerged wave energy converter that generates electricity from wave movement. With strong industrial partnerships and a team of over 100 engineers, the company operates in multiple continents and is dedicated to providing renewable energy solutions.


12. Wavepiston

  • Website: wavepiston.dk
  • Headquarters: Helsingør, Capital Region, Denmark
  • Founded: 2009
  • Headcount: 11-50
  • Latest funding type: Equity Crowdfunding
  • LinkedIn

Wavepiston.dk is a company that offers competitive wave energy solutions for islands. They specialize in the production, transport, and deployment of wave energy systems. With their innovative technology, they aim to make wave energy a cost-effective and reliable renewable energy source.


13. AWS Ocean Energy Ltd

  • Website: awsocean.com
  • Headquarters: Inverness, Inverness-Shire, United Kingdom
  • Founded: 2004
  • Headcount: 11-50
  • LinkedIn

AWS Ocean Energy is a provider of professional services and enabling technologies to the emerging marine energy industry. The company's focus is on the development of wave power generation technology for powering remote oilfield infrastructure, aquaculture, and remote maritime communities.


14. Yam Pro Energy

  • Website: yamproenergy.com
  • Headquarters: Kfar Saba, Central District, Palestine, State of
  • Founded: 2014
  • Headcount: 11-50
  • LinkedIn

Yam Pro Energy provides cost-effective renewable energy solutions by harnessing energy from sea waves. Their environmentally friendly system can be constructed in the ocean depths or on wave breakers and produces generous amounts of electricity at the lowest cost per kWh of any currently viable production method.


15. Seatricity

Seatricity.net is a company that offers innovative wave energy solutions that convert power from the ocean into clean electricity.


16. Marine Power Systems Ltd (MPS)

Marine Power Systems is revolutionizing the way in which we harvest energy from the world’s oceans. Their flexible technology harnesses wind and wave energy, offering a cost-efficient and high-performance solution for deep water environments. With a structurally efficient floating platform and an advanced wave energy converter, they provide an extremely competitive cost of energy.


17. Policy and Innovation Group

Policy and Innovation Research Group specializes in technology assessment and analyses the dynamics of innovation in offshore renewable energy systems providing analysis and advice throughout a network of academic research, industry and policy stakeholders.


18. Symphony Wave Power

Symphony Wave Power is a technology company headquartered in the Netherlands, offering a novel wave and tidal energy solution developed through the co-makership between science and industry across Europe and beyond.


19. ENCORE: Energizing Coastal Regions with Offshore Renewable Energy

Energisingcoasts.eu is a partnership that focuses on the development of innovative renewable energy solutions for offshore and coastal areas.


20. Ocean Technology Industry News

OceanTech Asia Pacific is a company involved in ocean technology research, development, and deployment of renewable energy and sustainable ocean management practices around the world.


21. Azerbaijan Renewable Energy Agency

AREA is a company that focuses on green energy solutions and alternative power sources. They offer a range of services and projects related to solar, wind, hydro, geothermal, and wave energy. AREA is dedicated to promoting sustainability and environmentally friendly energy production.


22. INORE - International Network on Offshore Renewable Energy

  • Website: inorean.org
  • Headquarters: Plymouth, Devon, United Kingdom
  • Founded: 2006
  • Headcount: 501-1000
  • LinkedIn

In a world where the global environment is changing, there is also a global challenge. A challenge that sets for the current and future generations the need to come up with new solutions that would allow a transition to a new sustainable global community. To tackle this need, a deep and serious reflection should be taken at international level, a reflection that should not exclude the young people of today, as they will be the generation of tomorrow. To ensure a clean and secure energy supply is one of the major challenges to achieve global sustainability, and it is here where the renewable energies are called to play a key role, providing a clean, sustainable based energy source. Offshore Renewable Energy (ORE) includes offshore wind, wave energy, tidal energy and Ocean Thermal Energy Conversion (OTEC). OREs are amongst the renewables with the greatest potential, and they are expected to provide a substantial part of the future energy mix, (e.g. satisfying the 50% of the European electricity demand by 2050), becoming even more relevant for coastal and island communities. The International Network on Offshore Renewable energy (INORE) is an association that seeks to support the development of an active and connected network of researchers from around the world. The main objective of INORE is to promote and advance the education of Offshore Renewable Energies (e.g. offshore wind, wave, tidal barrage, tidal stream, and OTEC energy technologies), especially among the young professionals community. To make this possible INORE, links together an international and interdisciplinary active group of researchers and other professionals working out on issues related to offshore renewable energy.


23. Ocean Energy Europe

Ocean Energy Europe is the largest network of ocean energy professionals in the world. Over 120 organisations, including Europe's leading utilities, industrialists and research institutes, trust OEE to represent the interests of Europe's ocean energy sector. Ocean Energy Europe's mission is to create a strong environment for the development of ocean energy, improve access to funding, and enhance business opportunities for its members. To achieve this, OEE engages with the European Institutions (Commission, Parliament, Council, EIB, etc), and national ministries on policy issues affecting the sector. The results are undeniable: in past four years the sector's profile has increased significantly, and the EU has emerged as a major driver of the industry.


24. OREC's

The Ocean Renewable Energy Coalition (OREC) has been established to define common ground among ocean renewable industry participants and promote legislation and regulations that support industry wide goals. OREC supports legislation that encourages all ocean renewable technologies including tidal, wave, current, thermal and offshore wind. Legislation and regulatory policies should be neutral with respect to specific ocean technologies. Ultimately, market forces and not regulatory policy will determine the success of a particular technology. Oceans are a public resource that sustain multiple uses. Ocean renewable energy technologies are compatible with multiple uses and contribute to optimizing comprehensive use of our oceans to the benefit of the public. If you belong to one of OREC's coalition partner's you are eligible to take 20% off OREC's first year member dues. How Can I Join OREC? If you're interested in joining OREC as an individual member, click on the ""donation"" button in the side column and you can pay the $50.00 fee via Paypal. When you join with a Paypal payment, your contact information will automatically be sent to us for our membership list. If you are interested in our affiliate membership and rates or if you are unable to use Paypal, please email us at info@oceanrenewable.com so that we can send the appropriate forms and information.


25. IDCORE - EPSRC and NERC Industrial CDT for Offshore Renewable Energy

IDCORE is the EPSRC Industrial Centre for Doctoral Training for Offshore Renewable Energy, a partnership between the Universities of Edinburgh, Exeter, and Strathclyde, and the Scottish Association for Marine Science. It aims to train world-class research engineers to accelerate the deployment of offshore wind, wave, and tidal-current technologies in order to meet the UK's ambitious offshore renewable energy targets.


26. Hawaii Natural Energy Institute

The Hawaii Natural Energy Institute (HNEI), a research unit of the School of Ocean and Earth Science and Technology (SOEST), University of Hawai'i at Manoa (UHM), conducts research of state and national importance to develop, test and evaluate novel renewable energy technologies. The Institute leverages its in-house work with public-private partnerships to demonstrate real-world operations and enable integration of emerging technologies into the energy mix. Founded in 1974, HNEI was established in statute in 2007 to address critical State energy needs. Read more.


27. Seabased

Seabased offers cost-competitive renewable energy from wave to grid. Our mission is to develop and lead the emerging and potentially enormous wave energy market. A world leader in wave energy technology on the brink of commercialization, Seabased has been full-scale ocean testing for over 10 years and has pilot experience managing every aspect of our turnkey wave parks. Waves work 24/7/365, are highly predictable and utterly renewable. This aids with grid integration and avoids the need for expensive batteries. Our wave parks are modular, so customers can start recovering costs before the entire park has been completed. Seabased wave parks can be a great source of energy for many coastal and island populations because they don’t require scarce and expensive land area, they don’t create eyesores and they don’t make loud noises. Our technology is aligned with the UN Sustainable Development goals, and research indicates our parks create artificial reefs that provide a refuge for marine wildlife. We are proud to be awarded the European Commission's Seal of Excellence and to be a beneficiary of multiple grants, currently including two Interreg grants, OESA and Dual Ports.


28. Marine Renewable Industrial Association

Marine Renewables Industry Association (MRIA) which represents companies and interests on the island of Ireland - Ireland and Northern Ireland - in the Marine Renewables Emerging Technologies' (MRET) fields of wave, tidal, floating wind and 'hybrid' energy. The Association includes firms engaged in device development and manufacture, developers of projects and sites, academic researchers, consultants, professional firms and researchers.


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