OE Systems AB

Market position

OE Systems positions WaveMove as a complement to solar and wind generation, addressing their intermittency by adding steadier wave-driven output into existing grid infrastructure. A third-party profile describes the company's offshore industrial background as a differentiator from most competitors in the segment.

Stated points of differentiation include integration with wind turbines to raise energy delivery through existing grid connections, annual capacity factors above 50% in many locations, conservative structural utilization margins for offshore durability, use of field-proven components and standard offshore manufacturing methods for cost-efficient scaling, recyclable materials with a compact footprint, and an offshore industrial background together with DNV verification of the solution.

Technology

WaveMove converts ocean wave energy into electricity via a surface collector that dampens wave motion through hydraulic cylinders driving a pump/generator. The company states the converter achieves annual capacity factors above 50% in many locations by delivering output even at lower sea states, and that ocean waves are more consistent and capture up to 10 times more energy than existing solutions. Structural loading is stated to remain under 10% utilization in normal conditions and under 20% in extreme sea states. The design is described as using recyclable materials and a compact footprint, and as being built with field-proven components and standard offshore manufacturing methods to support scaling. A third-party profile states the solution has been verified by DNV and is intended to match the >18 MW wind turbines expected in the 2030s.

Go-to-market

Direct engagement with site owners and developers, beginning with a free introductory meeting and a project value assessment of a prospective site, followed by phased deployment that starts with low-risk verification before expanding to full site capacity. The company works closely with customers' own engineering teams and uses LinkedIn as its primary public communication channel.

Owners and developers of offshore renewable energy sites, including existing (brownfield) wind sites seeking added output, greenfield combined wind/wave projects, and off-grid or grid-constrained locations where local production can avoid grid extension costs and turn net energy importers into exporters.

Geography

Headquartered at August Barks gata 6B, 421 32 Västra Frölunda (Gothenburg), Sweden, with a demonstrator system at a calibration site on the Swedish west coast.

History

The company was founded in 2020 and is based in the Gothenburg area of Västra Götaland, Sweden. A third-party startup profile records an association with Techstars dated February 2023 and a pre-seed round in March 2023.