ZOEX: Harnessing Wave Power to Replace Offshore Diesel
Salmon farming—Scotland’s #1 food export and one of the world’s fastest-growing sources of protein—relies heavily on diesel generators to power offshore feed barges. As farms move further offshore to colder, more exposed waters, energy demand grows while governments push to eliminate fossil fuels from aquaculture. Diesel is costly, polluting, and increasingly unsustainable.
ZOEX is developing a commercially viable wave energy device designed to replace diesel generators in aquaculture and other offshore sectors. The system mounts directly onto existing barges or platforms, using a Yokohama fender as a wave actuator, a patented double-link arm as gearing, and a direct-drive electromagnetic generator developed by WES. The result: affordable, reliable, zero-emissions electricity delivered at the point of need.
Greenbackers is pleased to support ZOEX, an innovative clean energy company tackling the urgent need for renewables in the Blue Economy—fish farming, offshore oil & gas, and small island developing states.
Why ZOEX:
- Clear customer demand: Salmon farming alone spends over £320,000 per farm each year on diesel and logistics. With ~9,000 potential units in aquaculture, the TAM is estimated at £600m, with wider Blue Economy applications reaching £12bn.
- Strong traction: Collaborations underway with Scottish Sea Farms and AKVA Group, plus support from Sealand Projects Ltd. Proof-of-concept testing completed; UK IPO granted and PCT patent registered.
- Differentiated technology: ZOEX generates power even in low wave states (Hs = 50cm), reduces installation costs by up to 10x compared to competitors, and mounts safely onto existing offshore structures.
- Scalable model: Initial revenues from licensing and unit sales in aquaculture; with economies of scale, ZOEX targets entry into the utility-scale wave power market—worth trillions by 2040.
Investment Snapshot:
- Type: Seed Round
- Target amount: £3.5m
- SEIS approved
For further information or to speak with ZOEX directly contact:
Annika Borrmann at annika@greenbackers.com
