Wave energy developer Ingine bares new projects, plans for 2022

 This includes the company’s launching in North America.

South Korean wave energy developer Ingine disclosed its growth plans for 2022 and the next years which include project developments abroad to speed up commercialisation. 

In a statement, Ingine these developments abroad include the Vietnamese and Korean project in Quang Ngai province through a five-party memorandum of understanding among Quang Ngai People’s Committee, INGINE, SK Innovation, Doosan Vina and VinGroup. 

The company will also be developing a 10-megawatt wave energy project for diesel replacement in Indonesia.

Ingine will also be launching in North America this year, following a deal with the Mowachaht Muchalaht First Nation to start design work for an onshore wave energy system in Yuquot, British Columbia in Canada.

Collaborative plans were also in progress in France, Morocco, Taiwan, and Japan, it said. 

Whilst it has a strong footprint in Europe through its UK subsidiary, Ingine said further growth in the region will be announced early this year.

“The company is now entering an exciting growth phase as our technology rapidly advances towards commercialisation. We will enter the New Year focusing on a series of high-profile, cross-continental projects following many years of careful planning and preparation to leverage finance and establish secure and stable international partnerships,” Ingine Business Development Director Dae Hyun Kim said.

“Ingine is now in poll-position to leverage its extensive technical expertise and demonstrate the commercial benefits of its technology, as part of our broader mission to support a sustainable future and a successful energy transition, on the pathway to net-zero,” he added.