About

PROVIDING THE FUTURE

Wave Energy is a technology business. We develop, design and provide unique solutions to utilize the enormous power in the waves to produce electricity. The company was established in 2004, is Norwegian based and has its office in Tananger outside the city of Stavanger on the west coast of Norway.

Contact us

POSTAL AND VISITING ADDRESS

Energiveien 16
N-4056 Tananger

PHONE +47 51 87 56 20
CELL PHONE +47 41 44 84 85
FAX +47 51 87 56 01


VISION AND GOALS

DEVELOPING RENEWABLE WAVE ENERGY WORLDWIDE

Our vision is to commercialize our technology and develop sustainable full-scale wave energy projects globally. We aim to become internationally acknowledged as one of the leading commercial technology companies within the wave energy industry. Our main goal is to supply customers worldwide with innovative solutions that enable reliable and cost efficient production of energy from the power in the waves.

HISTORY

WAVE ENERGY HISTORY

Wave Energy was founded in 2004 by Stig Bakke and Leif Inge Slethei. They are both experienced entrepreneurs from the oil industry, and have through the years established several new and successful businesses. Since the beginning, Wave Energy has gone through several development stages where the technology has been tested, optimized and qualified for full-scale sea trials

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WAVE TANK TESTING. Wave Energy started the design process by carrying out initial investigations on the SSGTM design in our in-house wave tank. More detailed scale model testing to optimize geometry and to investigate performance was later carried out in cooperation with the University of Aalborg at their water laboratory in Denmark.

EC PROJECT FUNDING. In November 2005, Wave Energy was granted a 1 mill euro funding from The European Commissions FP-6-2004-Energy-3, for development and design of a full-scale SSGTM wave energy converter. Eight European partners were included in the project: The University of Aalborg, IKM, Ganz Transelektro, The Technical University of Munich, The Norwegian University of Science and Technology (NTNU), The Municipality of Kvitsøy and Wave Energy as project coordinator. A complete detailed design of the mechanical and electrical system was carried out and the component´s functionality was tested and proved.

MSTTM TURBINE DEVELOPMENT. To further increase the efficiency of the SSGTM technology, Wave Energy designed and patented a new turbine concept called the MSTTM (Multi Stage Turbine). A two-year timeframe development project was initiated in 2005 to test the design. The project was carried out in cooperation with The Norwegian University of Science and Technology (NTNU), Sintef and Mechanica as. The Norwegian Research Council co-funded the project. A 1:4 scale prototype of the MSTTM turbine was successfully tested at the NTNU´s water laboratory in December 2006. The test results confirmed the turbines functionality and showed very promising performance curves.

SEA TRIAL TESTING. To secure funding for further development and sea trial testing 22,5 mill NOK was raised through a private placement in November 2006.

BOARD & MANAGEMENT

MANAGEMENT AND BOARD OF DIRECTORS

The founders of Wave Energy, Stig Bakke and Leif Inge Slethei, both have their seats in Wave Energy´s board of directors. General Manager is Monika Bakke. She joined the company in July 2006. Her professional background is from the oil service industry. The office is located in Tananger, at the west coast of Norway, outside the city of Stavanger.

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  MANAGEMENT
monika4

Monika Bakke, General Manager

monika.bakke@waveenergy.no

- Technical sales engineer, Weatherford 2004-2006
- Oil service technician, Aker Well Service/Bakke Oil Tools 1999-2004
  BOARD OF DIRECTORS
tor Tor Norbye, Chairman
- 25 years experience from executive positions and board work
- Since 2000, partner of Interforum Partners AS, Norway
- Core competence: Strategy, business development, international sales and marketing
   
stig Stig Bakke
- 25 years experience from the oil service industry and from technology development work
- Managing Director of Motorteknikk AS, Norway
- Founder and Managing Director of Bakke Oil Tools, 1994-2002
   
leif Leif Inge Slethei
- 35 years experience from the oil and gas industry
- Investor with several board positions in various companies
- Founder of Independent Oil Tools, Wepco and KL Oil Tools, Norway
   
john John Peter Hernes
- 12 years experience from investment management
- Managing Director of Saakorn Vest Management AS, Norway
- 10 years of executive search work and organizational management
- MBA of Warwick, BSC, University of Stavanger