Resolute Marine Energy (RME) has developed a unique wave-powered seawater desalination technology that can produce large quantities of low-cost water in areas where there is limited supporting infrastructure. RME’s Wave2O™ technology has been designed to improve access to clean fresh water for millions of people in developing countries, islands and rural areas and it addresses the unmet need for distributed water production systems that improve the health and welfare of relatively large populations.
Wave2O™ is a cost-effective, low-impact solution that is 2-3x less expensive than alternative diesel-driven systems. RME is currently developing a demonstration project in Oregon and commercial projects on the African continent. RME’s plan is to continue deploying multiple Wave2O™ projects and reap learning curve benefits that will eventually lower the cost of energy such that it achieves parity with wind and solar.
In addition to private equity capital, since RME was founded in 2007, it has been awarded over $5.0 million of grants from the U.S. Department of Energy and in 2016 it was awarded a $1.0 million SEFA grant from the African Development Bank. RME is currently seeking a $9.0 million investment to fully prepare for its first commercial deployment in Cape Verde in 2018.