Wave Swell Energy!
Accru Melbourne is proud to be working with an innovative Australian renewable energy company on the verge of building a commercial wave energy pilot plant to be deployed off the coast of King Island, Tasmania. Wave Swell Energy Ltd has been a client since inception and our partnership has helped the company move through an exciting phase of development to a genuine contender in providing an alternative renewal energy source.
Wave Swell Energy has developed a world leading proprietary technology that converts the energy in ocean waves into clean, emission-free electricity. The technology is non-invasive, totally renewable and has no negative impact on marine life, even protecting the coastline from erosion. The company aims to demonstrate the ability to produce electrical energy at a cost comparable to that of new coal-fired power plants, when installed at large scale.
Inventor of the technology and the company’s CEO Dr Tom Denniss first proposed an earlier version of a Wave Energy Unit in late 1990. However the current designs are vastly improved and superior in performance. The technology is simpler and therefore more robust and cost effective than other technologies.
The technology of Wave Swell Energy is based on the well-established concept of the oscillating water column (OWC). An OWC is effectively an artificial blowhole. It is a large hollow concrete chamber, partially submerged and sitting on the seabed, and vented to the ocean through an underwater opening. The chamber also includes a small opening to the atmosphere above the water line, in which is housed an air turbine.
Greg Winnett, one of our Partners, sits on the Board of Directors of WSE providing financial reporting, Corporate Governance and Strategic advice to the company. Accru also provide ongoing accounting, taxation and shareholder management services to WSE. If you would like to discuss our services in more detail, contact us today on (03) 9835 8200 or alternatively fill in your details below and we will be in touch.