Zoexpower

Zoexpower

Clean Power for Marine Structures.

HQ location
Portlethen, United Kingdom
Launch date
Employees
Enterprise value
$3—4m
  • Edit
Get premium to view all results
DateInvestorsAmountRound
investor investor investor

€0.0

round
*

£196k

Grant
Total Funding000k
Notes (0)
More about Zoexpower
Made with AI
Edit

Zoexpower is an Aberdeen-based clean-tech company targeting the blue economy with a novel wave energy converter (WEC) system. The firm was founded by Aslihan Penley, a chemical engineer who transitioned from a successful career in the oil and gas industry with major firms like Subsea7 and Technip. Her journey into wave energy started in 2015, leading to the incorporation of ZOEX POWER LTD in early 2020. Penley’s experience in complex subsea projects informed her pragmatic approach to solving historical challenges in the wave energy sector, specifically the ability to generate power from smaller sea states and ensuring device survivability.

The company is developing a system that can be attached to existing marine structures such as aquaculture barges, breakwaters, and offshore platforms. Its core technology consists of a compliant fender that moves with the waves, connected to a patented double-link arm mechanism. This design intensifies the wave motion, allowing an electro-mechanical generator to produce power even in wave heights under two meters, a significant advantage over many existing WEC designs. The system dually functions as an 'ActiveFender,' offering protection to the host structure from impact. Zoexpower utilizes proven, robust components, including a ball-screw generator from aerospace supplier UmbraGroup, to mitigate technical risks.

Zoexpower’s business model focuses on product sales, initially targeting off-grid, diesel-displacement applications. The primary entry market is the rapidly growing aquaculture sector, where the WEC units can power feed barges, replacing carbon-emitting diesel generators. Beyond aquaculture, the company targets auxiliary power for offshore oil & gas installations and marine data sensors. The long-term strategy involves scaling production to reduce costs, with a goal of becoming competitive with offshore wind and entering the utility-scale market. The company has achieved significant milestones, including securing funding from Scottish Enterprise, Equity Gap, and Innovate UK, and deploying its first 100 kW prototype at the Port of Aberdeen in mid-2024.

Keywords: wave energy converter, blue economy, aquaculture energy, marine renewable energy, Aslihan Penley, offshore power generation, clean-tech, diesel generator replacement, subsea power, breakwater energy, modular wave energy, marine engineering, sustainable aquaculture, WEC technology, ZOEX, impact-resistant fender, small sea state energy, North Sea innovation, climate tech, energy transition

Analytics
Unlock the full power of analytics with a premium account
Track company size and historic growth
Track team composition and strength
Track website visits and app downloads