Fortum Buys Stake in Swedish Wave Energy Conversion Company Seabased

One of the major advantages of the energy in the ocean’s waves is that it is constant and very predictable. Theoretically if we can build a wave energy conversion device that is tough enough to stand up to the open ocean, and inexpensive enough to be able to launch many of them at a time, we could have constant electricity.

All of the waves peak at different times so when you put them all together you can produce a steady, consistent, predictable output. The output is clean electricity,something that the world needs very badly.

Seabed Wave Energy Converters in an array

Seabased Wave Energy Converters in an array

Seabased is a high-tech clean energy growth firm that designs, builds and installs complete, grid-connected wave parks.

Transporting the wave energy converters to the installation site

Transporting the Seabased wave energy converters to the installation site

They have over 100 patents, more than 4.5 years of generator run time and an operational factory on the west coast of Sweden.


Seabase's wave energy converter

Seabased’s wave energy converter

Seabased’s technology was functionality verified with the connection of the Sotenäs Wave Power Plant on the Swedish west coast to the Nordic Electricity Grid, which is the world’s first multi-generator wave park.

Wave energy devices like this can be deployed all over the world's oceans

Wave energy devices like this can be deployed all over the world’s oceans

In addition, their generator technology has been proven via the WESA project in Finland a joint effort between Uppsala University (Lead Partner), Ålands Teknikkluster r.f. and University of Turku, a pioneering wave energy conversion project in the waters outside of Åland Islands. The project ran from May 2011 until the end of 2013 and was financed by the EU, through the European Regional Development Fund, and the remaining part by national governmental bodies.

Ghana-Trials-Seabed Wave-Energy-Generators-

Ghana-Trials-Seabased Wave-Energy-Conversion-Device

The Finnish power company Fortum has acquired shares in Seabased AB ( a Swedish wave energy company ) corresponding to an approximate 10% stake in the company. Both parties have agreed not to disclose the value of the deal.

Oivind Magnussen, CEO, Seabased said:

We are happy to have Fortum as our new shareholder. To have a major player such as Fortum onboard is a commitment in Seabased when we move towards commercialization.

“We have worked closely together during the wave power project in Sotenäs and believe there is a potential for a commercially viable solution, something Seabased now will continue to develop,” says Sebastian Johansen, Senior Technological Expert at Fortum.

Fortum is looking forward to future co-operation with Seabased from its new role as an owner.


About Gordon Smith
Gordon's expertise in the area of industrial energy efficiency and alternative energy. He is an experienced electrical engineer with a Masters degree in Alternative Energy technology. He is the co-founder of several renewable energy media sites including Solar Thermal Magazine.

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