UK wave energy startup Caudal Energy has raised £4.3m in funding. The funding was led by Oxford Science Enterprises (OSE) and Empirical Ventures. Existing investors Zero Carbon Capital and Creator Fund also joined the project.
The investment is one of the largest institutional investments in the UK wave and marine energy sector in recent years. The company said it aims to increase the role of stable and predictable renewable energy sources in energy systems.
Founded in 2024 under the name Porpoise Power, the startup was founded on the basis of research in the field of hydrodynamics by Oxford University professor Adrian Thomas. Caudal Energy has developed a new energy technology inspired by the principle of movement of the tail fins of marine mammals.
The startup’s special oscillating blade system works in conjunction with sea currents. According to the company, this technology simplifies installation, reduces maintenance costs and makes energy production more profitable. The system can also operate in areas with weaker currents, unlike traditional turbine technologies.
The modular design of the platform, called the Caudal Generator, allows it to be used in a wider geographical area. The company believes that the technology will eventually reach a level that will allow it to compete with offshore wind farms.
The technology is currently in the TRL5 preparation stage. The new investment will be directed at conducting full-scale tests in the Strangford Lough area of Northern Ireland, as well as expanding engineering and modeling capabilities. The first commercial use is planned to begin in 2028.
John Kennedy, CEO of Caudal Energy, said that the company wants to change the current perception that wave energy is an expensive and complex technology. According to him, the goal is to create a reliable, large-scale and commercially competitive energy system.
