Press Release, Swell Fuel, December 14, 2007
Swell Fuel, a leading ocean wave energy company, is pleased to announce its intention to begin marketing wave energy converters (The Stinger) to researchers, universities and technology companies early next year. The goal is to demonstrate Swell Fuel’s ability to produce clean and efficient energy from ocean waves and to initiate deployment of its products on a larger scale.
Many countries are interested in installing ocean energy converters but often won’t commit to products that are unproven. As a result, Swell Fuel will be selling units for testing for as low as $1000.
With patent-pending prototypes and four separate sizes to choose from, the company will offer units that produce 20, 100, 1000 and 5000 watts of electricity. Feedback will be requested from researchers to enhance and improve future product designs.
“This is a huge step forward for our company,” said Chris Olson, founder and president of Houston-based Swell Fuel.
“We want to bring our ocean energy converters to market and put them in the hands of researchers to demonstrate their potential,” he added.
Using a lever operated pivoting float anchored to the lake or ocean floor, Swell Fuel’s converters are activated when wave action lifts a lever in an up-and-down motion, which in turn produces electricity.
The company has already licensed its product in seven countries and many see it as a solution to providing energy and electricity for coastal area residents. Earlier this year, Swell Fuel successfully tested its prototypes in the waters of El Salvador and at a research facility at The University of Rhode Island.
“This is not some theoretical product that is years away from implementation,” said Olson. “These units are ready to produce electricity right now.”
Having gone through over 30 different prototypes, Olson claims to have perfected his product for use on a much larger scale. He claims that linking multiple units together on a grid-like system will one day provide enough energy for entire coastal cities.
Based on recent feedback, he expects strong demand for his units when they’re made available for testing early next year.