AquaGen’s SurgeDrive technology has been highlighted in a milestone report released by the Australia’s Principle Scientific Body, the CSIRO. The report found that ocean power generated by waves could supply a city the size of Melbourne by 2050. Alex Wonhas, the director of CSIRO's Energy Transformed Flagship, says waves could be a big part of the future. "We found it could provide up to 10 per cent of Australia's future energy needs by 2050. That's roughly equivalent of a city the size of Melbourne," he says.
Wonhas says getting ocean energy off the sea floor and into homes is fraught with environmental as well as technical and commercial barriers. "The technical challenges are really around making sure these devices last in the quite hostile ocean environment for maybe one or two decades," he says. "The commercial challenge is about reducing the cost of these devices."
“And that’s where AquaGen’s third generation technology can kick in to shorten the path to commercial reality” says CEO Nick Boyd. As shown in our recent Worley Parsons report, SurgeDrive’s Levelised cost of Energy will be on a par with onshore wind and the fact that the majority of our technology is out of the water significantly reduces the technical challenges faced. That’s the whole basis for the development of SurgeDrive, to remove most of the technology from the water and thereby reduce the costs and time to market. On top of this we have an in-built storm survival system so that the system can be retracted out of harms way during storm events and yet continue to generate electricity”
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