Oakland, CA – CalWave (“CalWave Power Technologies, Inc.”), a California-based wave energy developer, announced today that it has signed a memorandum of understanding with Launch Alaska, establishing a formal partnership to connect their technologies to real projects and opportunities in the state of Alaska. This agreement builds upon a mutually-identified pipeline of potential projects and CalWave is now planning to advance a region-specific deployment in the near future.
The collaboration stems from CalWave’s engagement with Launch Alaska’s 2021-2022 Tech Deployment Track Program, an initiative focused on deploying global solutions to climate and environmental issues for applications in Alaska. Through the 6-month program, CalWave has met with Alaskan customers, investors, and other tech/subject matter experts to progress on customer discovery, market fit, and project plans to bring their scalable energy solutions to Alaska and beyond. Organizations that have provided CalWave with mentorship and advice through Launch Alaska’s program include the Alaska Center for Energy and Power, Alaska Native Tribal Health Consortium, Alaska Village Electric Cooperative, Renewable Energy Alaska Project, and McKinley Capital, among others. CalWave is among four companies from the cohort of 19 selected to join Launch Alaska’s portfolio for future project development.
In 2019, Alaska’s waves could have satisfied the state’s electricity needs 146 times over according to research by the National Renewable Energy Laboratory. CalWave and Launch Alaska will work together to facilitate wave energy projects in Alaska through continued network-building, exploration of investment partnerships, and ESG data assessment.
Marcus Lehmann, CalWave CEO and Co-Founder states, “CalWave recognizes that Alaska is on the frontlines of climate change with the state warming faster than any other in the United States. As Alaska’s economy is dependent on industries that both currently drive and will be gravely impacted by global warming, we look forward to deploying our wave energy technology to support the just transition into a sustainable local economy.”
Launch Alaska CEO Isaac Vanderburg announces, “We welcome companies like CalWave that are working hard to address some of the world’s biggest challenges,” said Launch Alaska CEO Isaac Vanderburg. “Bringing their solutions to Alaska improves the quality of life for Alaska communities and shows others that if these technologies can work here, they can work anywhere.”
“Deploying clean energy technologies in Alaska comes with a number of challenges, but the quickly growing and unique market presents a number of opportunities as well,” says Ryan Davidson, CalWave Business Development Lead. “Launch Alaska has helped CalWave access quite a few of these opportunities while helping us mitigate the challenges, and we look forward to expanding our project pipeline around the state in the months and years to come.”
This partnership emerges as CalWave wraps up California’s first open-ocean, long-duration wave energy pilot and begins preparation for a larger-scale deployment at PacWave, the first federally-approved, grid-connected wave energy test site in the United States, rated at 20 MW.
About CalWave
Founded in 2014, CalWave’s mission is to provide reliable, cost-effective ocean wave technologies for sustainable energy access and envisions unlocking the power of ocean waves to secure a clean energy future. The company was awarded for the technology with the highest efficiency out of 92 teams in the U.S. Department of Energy Wave Energy Prize and is a member of the National Hydropower Association’s Marine Energy Council, which is calling for domestic marine energy deployment targets of at least 50 MW by 2025, 500 MW by 2030, and 1 GW by 2035.
About Launch Alaska
Founded in 2016 and based in Anchorage, Alaska, Launch Alaska is a nonprofit deployment accelerator focused on helping climate tech companies find customers, deploy projects, get revenue and make an impact in Alaska.Launch Alaska works with some of the brightest climate tech companies in the world to deploy innovations that tackle the planet’s biggest challenges. Launch Alaska works to deploy projects with stakeholders that solve challenges in the energy, transportation and industry sectors. This involves bringing climate tech startups to Alaska via the Tech Deployment Track and project facilitation through our Deployment Team.
Contact
Julie Mai
Head of Communications
press@calwave.energy
www.calwave.energy/pressroom
