Australian company BioPower Systems Pty Ltd has secured funding for a new ocean power system they have called bioWAVE. The system is a unique method of harnessing the power of the ocean. The bioWAVE device mimics the way marine plants respond to the movement of the currents and tides of the ocean.

The funding has amounted to $6 million of private equity investment from Lend Lease Ventures with additional investment from CVC REEF and CVC Sustainable Investments. This funding comes on top of a recent Australian Government REDI grant of $5 million.

As well as developing the promising bioWAVE system, BioPower is also developing and testing their bioSTREAM tidal current power system. This testing is being performed at the Australian Maritime College in Tasmania where renewable energy is extracted from the movement of both waves and tides.

The bioWAVE technology is based on the swaying motion of sea plants with the buoyant blades of the device having been designed for maximum energy absorption. Built into the system is a sensor that will signal to the bioWAVE in extreme conditions causing it to cease operating and lie flat on the seabed until conditions are safe.

“This project will allow us to develop the technologies to be ready for commercial production within a couple of years,” said BioPower’s Chief Executive Officer, Dr Tim Finnigan.

“Design concepts have been verified through tank testing at the Australian Maritime College engineering laboratories while the best wave and tidal resources in the region have been confirmed through analysis of numerical simulations of tidal flows performed by oceanographers at CSIRO Marine Research Laboratories.”

“Preferred deployment sites have been identified on the west coast of King Island [Tasmania] for the bioWAVE wave power system and near Flinders Island [Tasmania] for the bioSTREAM tidal power system.”

“We aim to have both systems connected to the distribution grids with preliminary discussions already held with Hydro Tasmania, which provides power on both islands,” Dr Finnigan said.

Each bioWAVE device will generate up to 250kW. Initially the test devices will be installed for a one-year trial period for continuous assessment and evaluation.

BioPower expects to begin manufacture of the bioWAVE devices on a commercial scale by mid-2008. The devices will be 20 metres tall and it is hoped that the first site installation will take place in early 2009. hen they are installed they will supply renewable energy power to King and Flinders islands which both currently rely on diesel fuel and wind power for electricity.

Depending on the success of this initial installation, the longer term plan is to expand the electricity supply to Tasmania and Victoria. After that, BioPower will look to investigate global commercial opportunities for power projects using their bioWAVE and bioSTREAM devices.