WaveX Pty Ltd

Renewable energy from the other 50% of the planet

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About Us

WaveX was initiated by a group of offshore engineers with a vision to make a positive impact by applying their existing expertise to the growing green economy. Over time, the company has conducted several scale model tests, supported by a robust numerical simulator that validates the performance of our innovative floating structure. As we transition from tank testing, WaveX is progressing towards the development of a large-scale prototype, marking a significant step closer to pre-commercialisation.

Renewable technology that breaks through existing barriers and opens up the other 50% of the planet - our deep oceans. WaveX's patented IP uses Wave Powered Generators to convert the vertical motion of the deep ocean into electricity at an industrial scale.

Pathway to Net Zero 2050

CO2 emissions from electricity account for 25% of global emissions, a percentage projected to increase as we advance in our decarbonisation initiatives. A crucial shift is imperative to transition our electricity generation from reliance on coal, oil, and gas to more sustainable renewable sources. While wind and solar are currently pivotal players in this transition, achieving a cost-effective pathway to net-zero emissions by 2050 necessitates the adoption of a diversified energy mix.

Integral to this diversification strategy is the incorporation of power generation from the world's oceans. This approach complements the efforts of wind and solar by filling gaps in energy production at the source, resulting in a more stable grid. By minimising the need for extensive energy storage, this comprehensive energy mix not only enhances grid stability but also proves to be more economically viable in our collective pursuit of sustainable energy solutions.

Solution

WaveX has assembled a team of engineers, boasting over 150 years of combined experience in offshore project delivery, to address the wave energy challenge. The outcome is a straightforward yet robust system, inspired by proven structures in the oil and gas industry. To mitigate risk, WaveX utilises traditional materials compatible with a circular economy, employing tried and tested fabrication techniques.

Operating without underwater moving parts and on a scale similar to offshore wind energy, the system is "self-installing," eliminating the need for large floating cranes. Fundamental to the design is ensuring safe access for the Operations and Maintenance (O&M) team.

The validation of the system and numerical models through tank testing at the University of Western Australia marks a crucial milestone for WaveX. As the company progresses along its development pathway, WaveX is poised for large-scale deployment by 2025, emphasising its commitment to revolutionising wave energy solutions.

Board & Management

Matt Allen

Director

ECO Magazine Top 10 Ocean Influencer 2019. Blue economy start-up founder and successful exit to ASX listed business in 2022. As a Company Director and Marine Engineer, Matt brings 30 years delivering projects for tier one offshore energy companies. His strengths in strategic planning, project execution and corporate governance combine with an extensive network as a leader in the blue economy.

Culminating in 2020, Matt successfully led a team to patent and then globally license the IP for an underwater stabilisation technology, a team which included Shell in The Hague and The Oceans Graduate School at UWA in Perth.

Matt has an excellent understanding of both the challenges and the opportunities facing the wave energy and the blue economy and is uniquely placed to realise the commercial development of the WaveX technology.

Tracie Clark

Director

Tracie is a renowned advisor and investment professional with over 23 years of experience in investment management, financial services, accounting and business strategy.

She has founded two successful financial services businesses, worked in senior leadership teams and as a consultant. Tracie is heavily involved in the start-up community and has a passion for supporting innovation and mentoring future entrepreneurs.

Tracie holds a bachelor of commerce in Accounting and Business Law, is a Certified Practising Accountant, and a graduate of the Australian Institute of Company Directors.

Tracie’s skillsets are an exceptional compliment to WaveX’ engineering and projects background, and her governance and strategic credentials will help ensure WaveX remains on-track on its pathway to commercialisation.

Simon Renwick

Managing Director

More than 25 years as an engineer and manager of large scale offshore, industrial projects. In the wave energy space, Simon has previously worked for Energetech, Pelamis Wave Power and consulted on Carnegie Clean Energy technology. In oil and gas, Simon has been a team leader for scopes across some of the largest and most innovative projects in the world, including Gorgon (US$50B), Prelude (US$20B) and NRB (US$5B) encompassing engineering design, procurement, construction and commissioning.

Following his UWA honours project in 1998 – “hydrodynamic motion of spar buoys”, it wasn’t after completion of his work in Europe with Pelamis, that the concept for the WaveX technology was borne – looking to bring together lessons learned from his wave energy experience, uniquely combined with his knowledge from the oil and gas industry. Over the years, this led to collaboration with the University of Western Australia to move through TRL 1-5.

Simon has been a founding Director of a number of SME’s including an offshore engineering consultancy, subsea construction company, offshore personnel access services provider, and a solar farm O&M business.

He “quit his job” in October 2022 to pursue the vision of WaveX on a full time basis and is using his extensive professional network to ensure the commercialisation of this technology.

Tim Green

Operations Manager

Tim has spent more than 10 years in business management and leadership of a maritime engineering consultancy. He worked through the full life cycle of an engineering start-up which was ultimately acquired by an international consultancy. Strong experience in developing and promoting an employee focussed culture through positive leadership.

With over 20 years’ experience across all aspects of delivery of maintenance and capital dredging and marine works, Tim specialises in implementation and management for site investigations, environmental assessments, tender preparation and evaluation, contract preparation and delivery, and subsequent contract management through to completion.

Tim is passionate about reducing our collective footprint on the world, and the amazing opportunities to work with our environment, not against it.