The Future of Renewables
The power and the beauty of the ocean have inspired poets for centuries. Now, the ocean is inspiring a new wave of renewable energy. Amongst renewable energy sources, sea waves contain the highest energy density. This allows for substantial energy generation in relatively small areas from a virtually inexhaustible energy source.
Propelled by the worldwide demand for renewable energy, ocean wave energy has the potential to become commercially viable quicker than other renewable technologies, achieving the fastest growth rate of all energy sources and generating significant wealth.
An independent market assessment estimated the potential world-wide wave energy economic contribution in the electricity market to be on the order of 2,000 TWh/year. That is an amazing 10% of world electricity consumption, comparable to the amount of electricity currently produced world-wide by large scale hydroelectric projects.
Finavera Renewables has positioned itself to be a world leader in the ocean energy market.
We plan to increase the rate of development of selected technologies by providing the initial financial and market support, similar to that provided in the past for the preceding technologies of wind energy, nuclear power and oil.
The power is waiting to be harnessed. Finavera Renewables has the knowledge, experience, and technology to do it.