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Wavepiston

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Wavepiston system harnesses wave energy to produce clean electricity and water

128%
 - 
Funded 17 Jun 2024
€600,003 target
€777,982 from 834 investors
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Business overview

Location Helsingør, Denmark
Social media
Website www.wavepiston.dk
Sectors Energy Non-Digital B2B
Company number 35680829
Incorporation date 5 Mar 2014
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Investment summary

Type Equity
Valuation (pre-money) €16.6M
Equity offered 4.45%
Tax relief N/A
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Business highlights

  • Full-scale demonstration ongoing in Gran Canaria
  • Agreements in place for commercial pilots
  • €15.6M funding secured to date
  • Production of clean energy and desalinated water
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Key features

  • Secondary Market
  • Nominee investment min. €24.20 +

Pitch

About the Campaign

Wavepiston aims to raise up to €1.5 million in 2024 to further demonstrate and commercialise its revolutionary wave energy technology. The investment raised in this round will be be used to:

· Demonstrate time-series of data from the full-scale system

· Continue technology development

· Develop commercial pilot wave farms.

By achieving the above, we plan to establish strategic partnerships in 2025 with investor(s) and partners with a broad industry network and scaling experience from the offshore/renewables industry.

Market Opportunity

Producing clean electricity and desalinated water, Wavepiston taps into a vast market opportunity. The unobtrusive design is an attractive option for coastal regions globally.

Wave energy will be a key source in the green transition with electricity demand expected to triple by 2050. IRENA expects 350 GW capacity by 2050 (annual revenue of EUR 125 bn).

Wavepiston has dialogues toward 17 sold projects by 2030, leading the way to 3.5-5.4 GW sold capacity by 2035.​

Traction & Key Accomplishment

Wavepiston’s track record includes the deployment of our 1:1 scale system in Gran Canaria in a consortium with Vryhof (NL), Enermed (IT) and Fiellberg (FI)​, and two publicly funded projects - total € 6m - are in place for continued technology development on our commercial version. We believe our successful offshore testing and patents position us as a leader in wave energy technology.

Importantly, Wavepiston recently secured its first commercial revenue from Shell Technology - MRE. Besides securing €5.3 million in equity, €0.7 million in debt, and €9.6 million in public funding.

In March 2024 Export Barbados (BIDC) and Wavepiston announced an upcoming pre-feasibility study for the deployment of wave farms in the Atlantic ocean off Barbados, and Wavepiston is developing and engaging with project partners for its first commercial pilot farms in Gran Canaria, Martinique and Denmark.

Team

Wavepiston team boasts extensive experience in various industries and is well-equipped to drive the company's success.

We have built an international organisation spanning 5 different nationalities and locations in Denmark and Gran Canaria.

Business Model

Wavepiston's revenue comes from delivering turn-key wave energy farms for wave-to-energy and wave-to-desalination applications. Revenue streams will include installed capacity, monitoring and the supply of spare-parts during operation and maintenance activities.

Wavepiston’s initial focus is on islands and remote coastal communities.

Beyond this, Wavepiston will look to expand to utility scale installations when the company matures, with a view to achieving sustainable growth.

Use of Funds

Funds raised will fuel the final stages of demonstration and technology development. Specific goals include demonstrating successful results, securing commercial partnerships and preparing for the deployment of small-scale wave energy farms in target markets.

We are driving to ensure Wavepiston is at the forefront of revolutionising renewable energy with its innovative wave energy solutions.

Join us in our mission to combat climate change and provide clean energy and potable water to communities worldwide.

Key Information

Currencies

Direct investors in this round are investing in Danish Krone (DKK). The share price for the round is set at DKK 90.

Investments made in Wavepiston in DKK are converted with an exchange rate of 7.438 DKK per Euro for the campaign's duration.

Shares classes

Wavepiston has two share classes: A and B. The founders hold A shares, and investors hold B shares. Investors in this round via Seedrs will be issued B shares. These are the highest-ranking shares and have preferential dividend rights to A shares.

Group structure

Investors in this round are investing in and will become shareholders of Wavepiston A/S (35680829), the group's holding company. Wavepiston SL is a fully-owned subsidiary registered in Spain.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited (trading as Republic Europe) ("Republic Europe"), which is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Republic Europe platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Republic Europe platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from €16,626,622

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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