The funding effort, led by company directors, the CFO, existing investors, Perth Angels, and other industry participants, seeks to raise up to AUD 2.15 million through the issuance of fully paid ordinary shares at AUD 123,000 per share. WaveX has already secured AUD 1.01 million in commitments and is offering 12 additional parcels starting at AUD 100,000. As an early-stage innovation company (ESIC), WaveX offers eligible shareholders a 20% tax offset and a 10-year capital gains tax exemption, subject to professional advice.
WaveX’s D-Spar, a floating steel buoy, converts ocean wave motion into electricity for industrial and utility-scale applications. This technology provides a stable renewable energy source, complementing intermittent wind and solar power and reducing reliance on large-scale battery storage.
In March 2025, WaveX launched this seed investment round to support the next phase of its wave energy technology development. During the same period, the company partnered with London-based Arup to advance the D-Spar wave-powered generator. The collaboration, formalized through two memorandums of understanding, focuses on optimizing the D-Spar system and accelerating wave energy project development.
An official from WaveX stated: “The final push is said to get WaveX ‘over the line’ and trigger an AUD 2.4 million government grant once completed.” This funding will enable WaveX to scale its innovative technology, contributing to Australia’s renewable energy landscape and supporting global clean energy goals.
The D-Spar’s ability to generate consistent power positions WaveX as a key player in addressing energy reliability challenges, with potential applications across diverse markets.
