SyncWave Energy Inc. of Pemberton, B.C., and Marinus Power LLC of Houston, Texas, signed a memorandum of understanding to form SyncWave Systems to commercialize SyncWave's Power Resonator and SWELS wave energy conversion technologies.
SyncWave Energy's B.C. engineering team has developed a frequency-based wave energy conversion technology that treats waves as a variable energy signal. The companies called the technology a breakthrough that promises significantly better efficiency than other known wave energy capture devices. They said the SyncWave technology also is expected to be simpler to build, deploy, and maintain.
Marinus focuses on development and financing of ocean renewable energy technologies and projects. It is working with developers of tidal and wave energy extraction devices and also is evaluating technologies and methods to develop economically viable offshore wind projects.
Both companies are to work together to secure additional funding to engineer and build a first-generation demonstration device to be deployed and tested off the west coast of Vancouver Island. The demonstration device is targeted for deployment in late 2009 or 2010. A commercial pilot project supplying power to a customer is planned to follow in one to two years.
SyncWave Energy is to license its proprietary technologies to SyncWave Systems and provide its scientific engineering expertise, ocean test permit, and customer and utility relationships. Marinus is to bring ocean engineering, offshore construction, and project management expertise.