CalWave Inc

What CalWave Inc does

CalWave Inc (legal entity: CalWave Power Technologies, Inc.) is a privately held Berkeley, California-based wave energy technology developer founded in 2014 from UC Berkeley research. The company designs and builds the xWave™ platform, a patented submerged pressure differential wave energy converter that captures ocean wave energy while remaining fully beneath the surface, paired with proprietary wave load management mechanisms and an autonomous onboard controller that achieves approximately 80% autonomous operation and 99%+ system uptime. CalWave's product line spans the x1™ pilot-scale device (successfully demonstrated offshore San Diego from September 2021 to July 2022 with 10 months of continuous operation and zero interventions) through planned utility-scale x100™ and x800™ classes, with a 100 kW commercial system scheduled for grid-connected deployment at PacWave South in Oregon in 2026.

The company's business model is multi-stream but pre-commercial. Primary funding comes from non-dilutive U.S. Department of Energy grants, NSF awards, DOE TEAMER technical assistance, accelerator support (Cyclotron Road, Activate, Breakout Labs), and crowdfunding, with cumulative government-backed funding exceeding $30 million. Revenue model mechanics consist of (1) government R&D contracts for technology development and validation, (2) long-term power purchase agreements with utilities such as the Bonneville Power Administration (signed November 2025 for the PacWave project covering 2026-2030 at up to 20 MWh/hour), and (3) future hardware sales of utility-scale wave energy converter systems to project developers and independent power producers. Customer segments span utilities and grid operators, coastal and remote communities, ocean/marine operations, and independent power producers, with distribution conducted exclusively through direct enterprise sales, federal contracting channels, and research institution partnerships — no consumer or channel reseller exposure.

CalWave has been recognized by the World Economic Forum's 1000 Ocean Startups Coalition (2026), the National Hydropower Association (2022), the Solar Impulse Foundation (2020), and placed second in the U.S. DOE Wave Energy Prize (2016, $500,000). The company operates with a 1-10 person team and is currently transitioning from R&D-driven grant funding toward commercial utility-scale deployments, with first commercial power delivery to the U.S. main grid scheduled to commence in 2026.

Name

CalWave Inc

Legal name

CalWave Power Technologies, Inc.

Website

https://calwave.energy

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

CalWave Inc is a privately held Berkeley-based wave energy technology developer that designs submerged pressure differential wave energy converters (xWave™ platform) for utilities, grid operators, and coastal communities, currently transitioning from DOE-funded R&D to its first commercial grid-connected deployment at PacWave South in 2026.

Ownership category

akta.pro rank

Product category

Wave Energy Technology

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electrical Equipment Manufacturing (3353), Switchgear and Switchboard Apparatus Manufacturing (335313)

SIC

Cogeneration Services & Small Power Producers (4991), Switchgear & Switchboard Apparatus (3613), Industrial Instruments For Measurement, Display, And Control (3823)

akta.pro primary industry

Wave Energy Converter (WEC) Power Generation (EUACAJAC)

akta.pro secondary industries

Renewable Power Electronics & Advanced Inverters R&D (SiC/GaN, Grid-Forming, HVDC Converter Tech) (EUAMAOAF), Power Electronics for Renewable & Grid-Tied Applications (Solar inverters, wind converters, grid-tie interfaces) (IMAGADAJ)

Keywords

• Wave energy converters
• Marine renewable energy
• Ocean energy systems
• Utility-scale wave power
• Submerged WEC technology

Headquarters

HQ city

Berkeley

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Supply Chain, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Wave Energy Hardware Sales: Sale of wave energy converter systems (xWave technology) to utilities, grid operators, and project developers. Transitioning from R&D to commercial operations with planned PacWave deployment.
2. Power Purchase Agreements (PPAs): Long-term agreements to supply grid-connected wave-generated power. PacWave PPA with BPA extends from 2026 through 2030 for up to 20 megawatt-hours per hour.
3. Government R&D Contracts: U.S. Department of Energy awards and funding for technology development, testing, and validation of wave energy systems.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

CalWave develops and manufactures the xWave submerged wave energy converter (WEC) platform, a family of fully-submersible devices that use pressure differential methodology to convert ocean wave energy into electricity. The product line spans from the demonstrated x1 pilot device to utility-scale x100 and x800 classes, with hardware sales and long-term power purchase agreements targeting utilities, grid operators, and coastal communities.

Product overview

CalWave offers the xWave™ Series, a family of submerged pressure differential wave energy converter technologies designed to convert ocean wave energy into reliable, cost-effective electricity for coastal communities. The product line spans from the x1™ pilot-scale device (demonstrated 2021-2022) through utility-scale x100™ and x800™ systems. The xWave technology features a fully-submerged architecture that captures wave energy while surviving extreme ocean conditions, with onboard autonomous controllers enabling high performance and storm survival. CalWave's PacWave deployment will represent the company's first grid-connected commercial power delivery to the U.S. main grid.

Differentiator

Problem solved

Functional benefit

Products and services

• xWave Technology Patented submerged pressure differential wave energy converter platform that converts ocean wave energy into electricity using fully-submerged architecture for marine ecosystem protection and storm survivability.
• x1 Pilot Device Pilot-scale submerged wave energy converter that completed a 10-month open-water deployment off San Diego (2021-2022) with 99% uptime and zero interventions, demonstrating xWave performance and survivability.
• x100 Utility-Scale Wave Energy Converter Utility-scale class of the xWave technology designed for local energy grids and microgrids, developed from learnings of the x1 pilot deployment.
• x800 Utility-Scale Wave Energy Converter Utility-scale class of the xWave technology targeting multi-megawatt commercial wave energy projects.
• xWave System (PacWave Deployment) 100 kW xWave architecture scheduled for a two-year deployment at PacWave South test facility in Oregon, representing CalWave's first connection to the U.S. main grid under a power purchase agreement with Bonneville Power Administration.

Quantifiable outcome

• 99% system uptime achieved during 10-month pilot deployment
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Wave Swell Energy: New Zealand-based company developing oscillating water column wave energy technology. Comparable as an emerging player pursuing grid-connected wave energy commercialization with utility pilots.
• Mocean Energy: Scotland-based wave energy developer building the Blue Star WEC. Comparable as a smaller-scale emerging player in the wave energy R&D space, focused on subsea oil & gas and offshore renewable applications.
• SINN Power: Germany-based wave energy developer with modular wave energy converter technology. Comparable as a smaller European competitor in the marine renewable energy space pursuing commercial pilots.
• Oscilla Power: US-based wave energy technology developer focused on wave energy conversion for remote and grid applications. Comparable as a smaller American peer developing utility-scale wave energy technology.

Direct peers

• Eco Wave Power: Israel-based wave energy company developing floating and shoreline-mounted wave energy converters. Directly comparable as a publicly-listed wave energy technology developer pursuing commercial deployments and PPAs with utilities globally.
• Carnegie Clean Energy: Australia-based ocean energy technology developer (formerly Carnegie Wave Energy) that has deployed the CETO wave energy converter. Comparable as a publicly-traded wave energy company transitioning from R&D to commercial projects with utility customers.
• AW-Energy: Finland-based wave energy developer with the WaveRoller submerged WEC technology. Direct peer operating in the same niche of submerged wave energy converters targeting grid-connected commercial deployments.
• Ocean Power Technologies: US-based publicly-traded wave energy technology company developing the PowerBuoy wave energy converter. Direct peer with established commercial deployments for ocean observation, subsea power, and grid applications, and similar government and utility customer base.
• CorPower Ocean: Sweden-based wave energy converter developer with proprietary WEC technology targeting utility-scale ocean energy deployment. Competes directly with CalWave in the marine energy R&D-to-commercialization transition with similar government-supported pilot programs and utility customer focus.

Broad incumbents

• Schottel Hydro: Germany-based marine technology company with tidal and wave current energy products as part of a broader marine propulsion and renewable portfolio. Comparable as a more established marine energy player with overlapping wave/tidal technology.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/CalWaveBerkeley
• LinkedInlinkedin.com/company/calwave
• Facebookfacebook.com/calwave.energy

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds9 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CalWave Inc