OreCon, another wave-power startup, dives in
Vast amounts of power are locked away in the movements of the ocean, but because of technical challenges, the number of startups that have attempted to harness wave power thus far is relatively small when compared to wind or solar.
OreCon is the latest, with plans for a sort of giant, self-contained buoy that floats atop the water, each unit generating a megawatt and a half of energy. The company has raised $24 million, which it plans to use in building a full-scale example.
One of the problems with putting mechanical equipment in the ocean is that the salt and other chemicals in sea water tend to destroy moving parts. OreCon uses a design called the Oscillating Water Column to keep most of the parts well above water level.
In an OWC, which is a well-known setup, the pressure from waves outside the device causes water to rise and fall within it, which in turn pushes air in and out through a turbine, creating energy. They tend to be fairly inefficient, though. (See this brief animation to get a better idea of what happens in an OWC.)
OreCon’s innovation is using what it calls “multi-resonant chambers”. In its proprietary design, the company deploys multiple OWCs around a 40 meter platform that’s tethered to the sea floor a few miles off shore.
The first unit should be deployed somewhere off the coast of England in Cornwall, near Plymouth, where OreCon was founded six years ago. Closer to home, rival designs by Finavera Renewables and Pelamis Wave Power are planned for deployment off the coast near San Francisco.
The funding OreCon raised was for £12 million (about $24 million US dollars). The round was led by Advent Venture Partners, and Venrock, Wellington Partners and Northzone Ventures also participated.
Next Story: Life sciences briefing: Tuesday, March 4, 2008
Previous Story: Google apps go offline and mobile
About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.