MOL Seeks to Develop Wave Energy for Japan Through Bombora Investment
Japan shipping company Mitsui O.S.K. Lines moved to expand its partnership that is developing wave energy through an investment in Bombora Wave Power. MOL reports that it has been working with the company for 18 months and is making the investment in Bombora to support its technology and global opportunity. MOL has previously worked with Bombora for the development of a wave energy project to be installed in Mauritius as part of the shipping company’s commitments to the island nation after the oil pollution caused by the grounding of the Wakashio in 2020.
Bombora, which was founded in 2012 in Perth, Western Australia, currently has its key operations in Pembroke Docks, Wales. The company’s mWave technology harnesses wave energy at scale to produce what it bills as “environmentally friendly, consistent and cost-competitive energy for commercial power generation.” They believe the technology has opportunities for global application.
MOL highlights that Bombora has developed a patented membrane-style wave energy converter, known as mWave, which it believes is unique among wave energy converters as it simultaneously addresses the cost of energy and ocean wave survivability challenges while delivering a utility-scale solution. Bombora has also developed in partnership with TechnipFMC the InSPIRE platform where its mWave is integrated onto floating wind platforms to create a broader renewable energy solution.
Bombora will use the funds from MOL’s investment to further the development and operational capability of its patented technology, including the completion of its 1.5MW mWave validation project due to be installed off the Pembrokeshire coast in the coming months.
MOL and Bombora have been working together to explore potential wave power projects in Japan and across the region as well as opportunities in Europe. “This investment cements the strong relationship between our two companies, moving to the next stage of close collaboration, strengthening the project development capability of the group in Japan and the surrounding regions while building regional supply chains capacity and leveraging MOL's expertise in marine logistics.”
MOL is conducting an investigation to select suitable sites for mWave and InSPIRE platforms in Japan. According to the company, the collaboration with Bombora will create pathways for wave energy projects in Japan.