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Langlee Wave Power gets NOK 6m funding

Langlee Wave Power, which is developing a 50 kW wave energy device, has secured NOK 6 million (~£700,000) funding from Färna Invest AB.

By Kari Williamson

Langlee Founder and CEO Julius Espedal, says: “There are a number of projects underway with the 50 kW E1 module, which offers energy independence to small island communities. With a new mooring solution, which will be presented at the Latin America Marine Energy conference in Santiago, Chile later this month, we can build larger units by putting an array of Langlee E1 modules together. The size of the unit then can expand to several megawatts.”

The 50 kW Langlee E1 module is a floating structure harnessing horizontal wave movements through large water 'wings'. These move in opposite directions to produce electricity through generators. The calculated yearly production for 1 MW installed Langlee wave power is 4 GWh.

Langlee Wave Power has already signed a license agreement with Turkish partner Unmaksan, part of the Altintas Group, for a 600 kW test unit off Turkey; and has entered into a collaboration agreement with Tangaroa Energy to help power New Zealand’s remote Stewart Island.

Färna Invest AB is a Swedish private Investment Company, which has 49.34% of the shares in Langlee.

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Wave and tidal energy