Page 21: of Maritime Reporter Magazine (June 2019)

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TECH: RENEWABLE ENERGY

SurfWEC @ a Glance

Company SurfWEC LLC

Tech Wave Energy Harnessing Device

Start of Design 2007

Patented 2012

Patent Owner Stevens Institute a patented variable-depth shoaling fea- sil fuels. The patent ricated with buoy- in 2019.” of Technology

License Holder SurfWEC LLC ture, invented by Michael Raftery, Surf- was submitted in ant integrity similar Raftery said that those failures col-

Web www.surfwec.com

WEC Chief Technology Of? cer (CTO) 2007 and issued in to Boston Whaler lectively cost many millions of dollars while performing research at Stevens 2012. It is was cre- boats, these are the while earning the WEC industry a bad

Institute of Technology from 2004 to ated while Raftery design criteria spe- reputation. He said early investor reac- 2012. The technology essentially allows worked at Stevens Institute of Technol- ci? cally required to bring wave energy tions to SurfWEC have been “you’re offshore waves to be converted to surg- ogy, the renowned engineering school, conversion to the utility level,” said Raf- probably just like those other systems.” ing surf waves, allowing much more ef- which paid for and owns the patent tery. “There have been four major fail- But Raftery contends that SurfWEC fective wave energy recovery. rights to the system, while SurfWEC has ures in the industry that really put inves- has learned from past incidents, and he

Meeting with Raftery in Martin & Ot- an exclusive license option agreement in tors off. The sinking of the Advanced said that creating a system with “buoyant taway’s Tinton Falls, New Jersey of? ce, place to use this technology. Research Technologies/Wavegen “Os- integrity” was number one on his list. To it becomes immediately clear that this “I think the biggest perceptions to prey” in 1995, the sinking of the Finav- this end the wave energy system features system and its development are a labor overcome are the perceptions that wave era “Aquabuoy” in 2007, the sinking of foam-? lled compartments making it vir- of love for the inventor who’s long-term energy conversion is inef? cient, and that the Trident “DECM” in 2009, and the re- tually unsinkable. “We’ve addressed all goal is to end human dependence on fos- WEC units cannot be designed and fab- cent sinking of the Wello OY “Penguin” of the failures in the industry with this www.marinelink.com 21

MR #6 (18-25).indd 21 5/31/2019 9:38:51 AM