Wave technology startup appeals to investors

AUSTRALIAN renewable technology start-up, Wave Swell Energy, is conducting a capital raise through equity crowdfunding platform Equitise to fund the remaining 20% of expected costs associated with its King Island project wave energy project.

Wave technology startup appeals to investors Wave technology startup appeals to investors Wave technology startup appeals to investors Wave technology startup appeals to investors Wave technology startup appeals to investors
 
The unlisted company was founded by Sydney-based Tom Dennis and Chris Gilbert and focuses on creating prototype wave energy generators which harness the sea's energy through a semi-submerged turbine-operated facility. 
 
Wave Swell Energy is currently busy developing a 1 megawatt project that is intended to be installed in the sea off the west coast of King Island Tasmanian and Australian mainland.
 
With a capital of A$24 million, the recently established company aims to be the first wave-energy developer to commercially produce energy at around 10 cents per kilowatt hour, something the company says makes the energy more efficient and cost effective than other renewable energy sources. 
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