French wave energy company Hydro Air Concept Energie (HACE) has reportedly raised €850,000 to build a full-scale wave energy device.
The fundraising campaign has been ongoing since this February on the Happy Capital investment platform.
With the amount raised, HACE plans to construct a full-scale wave energy prototype which is expected to be ready for testing in 2018, according to the French financial newspaper La Tribune Bordeaux.
HACE has over past 4 years been developing a wave energy technology that divides the swell to recover energy from all types of waves, with the ability to produce power from small waves of up to 30 cm in height.
La Tribune Bordeaux also reports HACE will formally appoint Etienne Kressmann as its General Director in August 2017 to drive forward the development of the company’s patent-protected technology.