Our Opportunity in Ocean Wave Energy

Why Wave Energy?

Seventy percent of Earth's surface is ocean, and those waters hold enormous untapped energy. The exploitable wave energy resource is roughly 4,000 terawatt-hours per year, representing a $400 to $600 billion annual market at current electricity prices. That's real, harvestable power flowing continuously along coastlines where hundreds of millions of people live and work. The infrastructure exists. The demand exists. What's been missing is technology that actually works at scale.

Operates 24 hours a day, 365 days a year
Forecastable weeks in advance
No expensive battery storage required
Higher energy density than wind or solar
Complements existing offshore wind infrastructure

Wave Energy Beats Wind and Solar

Wind and solar transformed energy, but they have a fundamental problem: they only work intermittently. That results in massive costs for battery storage and backup systems. Wave energy runs continuously with patterns forecastable in advance. Minimal amount of storage needed, no backup required. Just power that’s ready to go when the grid needs it.

Energy Source

(Availability)

Generation Cost

Storage Cost

Total Cost

Solar

(Daytime Only)

$0.03/kWh

$0.18/kWh

$0.21/kWh

Wind

(Intermittent)

$0.05/kWh

$0.09/kWh

$0.14/kWh

Wave

(Consistent)

$0.06-0.11/kWh

$0.02/kWh

$0.08-0.13/kWh

Why Wave Energy Has Failed — Until Now

Wave energy has struggled for decades not because the concept is flawed, but because the approach was. Surface devices were battered by storms, while point absorbers hit hard physics limits that capped their output at a few hundred kilowatts. Most designs simply couldn’t scale. Atargis took a different path by operating subsurface and using hydrofoil lift, solving the problems that stopped everyone else.

Challenge

Traditional Wave Energy

Atargis CycWEC

Scalability

Limited

Linear (2.5MW+ per unit)

Efficiency

<50%

95%+

Storm Survival

High risk

Submerged, low risk

Cost

High

Competitive with wind

CycWEC: Unlocking the Power of the Ocean

The CycWEC applies proven physics to wave energy. By operating below the surface, it avoids storm damage and taps into the most consistent part of the wave. Hydrofoil lift generates forces up to ten times greater than drag-based systems with minimal losses. Real-time feedback flow control matches each wave cycle, capturing up to 95% of available energy. The wave terminator design scales linearly, turning wave energy from a technical challenge into a reliable power source.

Constant, Predictable Power

Wave energy runs 24/7. Its patterns can be forecast weeks in advance with exceptional accuracy, delivering power when the grid needs it most and eliminating the need for costly storage.

Utility-Scale

Each CycWEC unit generates 2.5MW and units can be scaled up to 5MW and more, comparable to a wind turbine. While other wave technologies lose efficiency at scale, CycWEC maintains performance, unlocking practical grid-scale power.

Cost Competitive

CycWEC produces electricity for $0.06 to $0.11 per kilowatt-hour, delivering predictable, stable output at a price point competitive with fossil fuels and lower than other renewables.

Learn About the CycWEC

Bringing Wave Energy to the World

Real World Impact

Europe offers a large, growing market for ocean energy, and the CycWEC is ready to enter it: performance is validated, control is proven, and key patents are in place. The near-term path is grid-connected installations in EU waters that build on existing offshore infrastructure, then expansion across priority coasts. We’re inviting partnerships with offshore wind developers, utility companies, and investors to accelerate rollout.

The Perfect Complement to Offshore Wind Farms

Wave projects can share subsea cables, substations, and vessels with wind farms, lowering capital needs and shortening timelines. Because waves often persist when winds ease, combined sites deliver steadier output and full use of offshore infrastructure. For wind developers and operators, adding wave capacity becomes a practical extension of skills, supply chains, and permits they already manage.

Initial Target Markets (2027-2032)

Europe’s west coast nations offer the right mix of resource potential, infrastructure, and political momentum to bring wave energy online at scale. Early projects will focus on regions with strong wave climates, streamlined permitting, and active offshore industries that can support rapid deployment. These markets provide the launchpad for commercial growth and the foundation for global expansion.

Portugal
Spain
UK
Ireland
Norway

From Hypothesis to Reality

What began as Dr. Stefan Siegel’s side project at the U.S. Air Force Academy over 15 years ago is now proven technology ready for deployment. The CycWEC has advanced far beyond theory, demonstrating the performance, reliability, and scalability needed to stand alongside solar and wind in the renewable energy mix.

Read the Atargis Story

2005 - 2010

Stefan pursues his idea. Early modeling confirms the feasibility of using hydrofoil lift and feedback control to scale wave energy capture.

2010

Atargis founded

2011-2012

U.S. Department of Energy funded testing at Texas A&M confirms the core physics and measures real power output.

2013 - 2018

The team focuses on refining the design, writing and validating advanced simulations, developing the control algorithm, and securing key patents.

2019

A new DoE grant supports the next stage of development.

2024-2026 (Current)

A $6.1 million testing campaign with National Research Council Canada is underway to verify real-world performance. Atargis Canada established. Atargis EU and Atargis UK established to support open ocean testing.

2026

1.25 MW CycWEC design for open ocean deployment started.

2027

First open ocean pilot project launches, demonstrating CycWEC’s ability to deliver reliable power to the grid.

2028

2.5 or 5 MW CycWEC enters development and testing. Form strategic partnerships with offshore wind developers to accelerate deployment.

2029+

Commercial projects come online, positioning Atargis as a leader in unlocking the world’s wave energy potential.

The Ocean’s $600 Billion Opportunity