Finavera

Finavera owns 100% of the AquaBuOY wave energy technology and is currently investigating financing options for direct investment into the wave energy subsidiary in order to avoid parent company dilution. Finavera has identified potential engineering and systems integration partners which could diversify the technology risk while simultaneously attracting funding specific to early stage research.

Offshore power plants consist of patented wave energy converters that are based on proven, survivable buoy technology. Clusters of these small, modular devices called AquaBuOYs are moored several kilometers offshore where the wave resource is the greatest. The power plants are scalable from hundreds of kilowatts to hundreds of megawatts. Finavera power plants are designed to provide clean, renewable energy for large population centers. The offshore plants are suitable as distributed generation and load balancing at coastal transmission points.