£10.3m boost for Bombora Wave Power Europe

Watermark congratulates client Bombora Wave Power Europe (‘Bombora’) on being awarded a European Regional Development Funding grant for their patented, Australian designed 1.5 Megawatt (MW) mWaveTM wave energy technology trial project to take place in Wales, United Kingdom.

The £10.3m award will support the design and testing of a fully-submerged membrane-style wave energy convertor capable of generating large amounts of renewable electricity – paving the way for the developers, Bombora Wave Power Europe, to construct and commercialise the technology from its Pembrokeshire base in Wales.

The latest funding boost follows a multimillion dollar investment in November 2017 from Enzen, a global energy and environment company, to support the construction of Bombora’s first commercial sized mWaveTM wave energy technology.

Late last year, key staff including Chief Executive Officer, Sam Leighton, and Chief Technical Officer, Cam Algie, relocated from Australia to Wales to launch the operations and facilitate the transfer of mWaveTM wave energy technology.

Mark Pullen, Principal, Watermark, who has advised Bombora on intellectual property since 2013, said ‘we are delighted that through the latest EU funding allocation, Bombora is well on the way to constructing and commercialising their ground breaking marine energy technology.’

‘It has been incredibly satisfying to follow Bombora’s journey from its humble beginnings in Perth to a key player on an international stage. We look forward to Bombora successfully bringing their mWaveTM wave energy technology to market,’ he said.

For more information on Bombora Wave Power, click here.