ZOEX
ZOEX Power is a Scotland-based clean-tech company that builds modular wave energy converters (100kW and 20kW units) using a patent-pending double-link arm mechanism, targeting offshore off-grid power for aquaculture, Oil & Gas / CCS, and marine IoT customers.
- Company typePrivate
- Founded2015
- HeadquartersAberdeen, United Kingdom
- Headcount1–10
- GTM typeB2B
- OfferingHardware or Manufacturing
What ZOEX does
ZOEX LTD, operating as ZOEX Power, is a Scotland-based clean-tech company developing a modular wave energy converter (WEC) system designed for offshore off-grid power applications. The core technology uses a compliant rubber Yokohama fender as the wave-actuated body, an electro-mechanical generator (EMG) for power conversion, and a patent-pending double-link arm mechanism that intensifies wave energy to enable generation in sea states as small as 35cm wave height — addressing the mechanical end-stop failure that has historically derailed WEC designs. Systems are available in modular 100kW and 20kW units that can be multiplied and attached to existing marine structures.
The company targets three vertical segments: aquaculture fish farming (its primary beachhead, where the system is retrofitted to feed-barges with battery storage); offshore Oil & Gas and Carbon Capture & Storage subsea infrastructure in the 20-200kW range; and marine IoT sensors requiring remote power. Its go-to-market is enterprise field sales, supported by strategic partnerships with Umbra Group (Power Take-Off), the University of Edinburgh and the University of Strathclyde (engineering R&D), Scottish Sea Farms (aquaculture demonstration), Scottish Enterprise, and UK and Scottish Government grant funding. Pricing is quote-based under multi-year hardware sales contracts, with company claims of LCOE parity with diesel at prototype scale and a roadmap to offshore-wind cost parity at 500 cumulative unit sales by 2030.
ZOEX is a founder-owned private company led by Aslihan Penley, with reported headcount of 1-10 employees, a single operational unit installed in Ordu, Turkiye, and one commercial launch event held on 27 June 2024. Funding to date has been primarily grant-driven (SE:SMART Scotland, Unlocking Ambition, UK Seafood Innovation Fund, UKRI Innovate) supplemented by a May 2025 equity round led by Equity Gap with participation from Scottish Enterprise and the University of Strathclyde.
ZOEX firmographics
Firmographics- Name
- ZOEX
- Legal name
- ZOEX LTD
- Website
- https://zoexpower.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- ZOEX Power is a Scotland-based clean-tech company that builds modular wave energy converters (100kW and 20kW units) using a patent-pending double-link arm mechanism, targeting offshore off-grid power for aquaculture, Oil & Gas / CCS, and marine IoT customers.
- Ownership category
- akta.pro rank
ZOEX industry classification
Industry- Product category
- Wave Energy Conversion / Marine Renewable Energy Hardware
- NAICS
- Power, Distribution, and Specialty Transformer Manufacturing (335311), Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511)
- SIC
- Motors & Generators (3621), Electronic & Other Electrical Equipment (No Computer Equip) (3600), Power, Distribution & Specialty Transformers (3612)
- akta.pro primary industry
- Wave Energy Converter (WEC) Power Generation (EUACAJAC)
- akta.pro secondary industries
- Marine & Hydrokinetic R&D (Tidal, Wave, River Current, OTEC) (EUAMAOAD), Marine Power Generation & Energy Storage (Generators, Batteries, UPS) (IMAJAJAB), Electrical Engineering & Power Distribution (Generation, Switchboards, Cabling, Lighting) (IMAJAGAF), Marine Generators, Alternators & Power Electronics (Gen-sets, VFDs, converters) (IMAJAHAI)
Keywords
Where ZOEX is headquartered
LocationHeadquarters
- HQ city
- Aberdeen
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
ZOEX business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Wave Energy Converter Hardware Sales: Sale of modular wave energy converter units (100kW or 20kW). Units can be multiplied and attached to existing marine structures to meet customer demand. Revenue is generated through hardware sales with pricing competitive to diesel generators when including CAPEX and OPEX.
- Clean Energy Generation: Providing 24/7 power generation services for offshore off-grid applications including Oil & Gas infrastructure, CCS subsea infrastructure, aquaculture operations, and marine IoT sensors. Power is sold to offset diesel consumption and help customers reach net zero targets.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | 100kW modular unit |
| Unit Pricing | Multi-year contract | 20kW modular unit |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels4 records
ZOEX product offering
Product offeringCore offering
ZOEX designs, manufactures, and sells modular Wave Energy Converter (WEC) systems that generate clean electricity from ocean waves using a patent-pending double-link arm mechanism with an Electro-Mechanical Generator (EMG) and a compliant Yokohama rubber fender. The systems are offered as 100kW or 20kW modular units that can be multiplied and attached to existing marine structures to power offshore off-grid applications including aquaculture fish farms, oil & gas and CCS subsea infrastructure, and marine IoT sensors.
Product overview
ZOEX is a clean-tech company offering the world's first commercially viable wave energy converter (WEC) system. The core product is the ZOEX Wave Energy Converter, which comes in modular units of 100kW or 20kW and can be attached to existing marine structures. The system uses a patent-pending double-link arm mechanism with an Electro-Mechanical Generator (EMG) for power conversion. ZOEX targets three main market segments: offshore oil & gas and CCS infrastructure (20-200kW), aquaculture fish farming, and marine sensors/IoT applications. The system is designed to operate in small sea states (generating at wave heights as low as 35cm), setting it apart from competitors requiring 2m+ wave heights.
Differentiator
Problem solved
Functional benefit
Products and services
- ZOEX Wave Energy Converter (WEC) System The world's first commercially viable wave energy converter system that captures wave energy using a patent-pending double-link arm mechanism with an Electro-Mechanical Generator (EMG). Available in modular 100kW or 20kW units that can be attached to existing marine structures for offshore off-grid power applications across aquaculture, oil & gas, CCS, and marine IoT.
Quantifiable outcome
- Up to 100 tonnes CO2 savings per 100kW unit per year
- +4 more outcomes
Companies that use ZOEX
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
ZOEX technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
ZOEX partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- Umbra GroupcoreUmbra Group provides the Power Take-Off (PTO) system for ZOEX's wave energy converter. Their PTO system is capable of generating power in wave heights as low as 35cm. This partnership was discovered at the Wave Energy Scotland Annual Conference and is critical to ZOEX's technology.
- University of EdinburghcoreCollaboration with top wave energy engineers at the University of Edinburgh for technology development and engineering expertise.
- University of the Highlands and IslandsminorStudy collaboration that identified Scotland's lack of breakwaters with Hs > 2m annual average wave height, leading to the innovation focus on small sea state operation.
- Scottish EnterprisecoreScottish Enterprise provides support including the SE:SMART Scotland Grant and Unlocking Ambition award. They support ZOEX's market development in Scotland.
- Scottish Sea FarmscoreOne of Scotland's largest fish farmers collaborating on demonstration project for wave energy deployment in aquaculture operations.
- Babson CollegeminorEntrepreneurship program participation at Babson College, Boston - the world's leading entrepreneurship school.
- Strathclyde UniversityminorAcademic partner in Scotland for wave energy technology development.
- SealandminorPartner company listed in ZOEX's 'We work with' section.
- KrucialminorPartner company listed in ZOEX's 'We work with' section.
- VerlumeminorPartner company listed in ZOEX's 'We work with' section.
- EphicientminorPartner company listed in ZOEX's 'We work with' section.
- SAICminorPartner company listed in ZOEX's 'We work with' section.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
ZOEX competitors and assessment
Company assessmentDirect peers
- CorPower Ocean: Sweden-headquartered wave energy converter developer building modular WEC devices aimed at commercial-scale ocean deployment. Directly comparable to ZOEX as a next-generation WEC pursuing commercial viability in offshore renewables.
- Mocean Energy: Scotland-based wave energy company developing modular WEC devices for offshore renewables, oil & gas, and aquaculture markets. Closest comparable peer in geography, target verticals (aquaculture, O&G), and product modularity approach.
- Eco Wave Power: Israel-based wave energy company that has installed grid-connected WEC units and is pursuing commercial rollout. Directly comparable as a publicly-listed WEC developer with marine-mounted wave technology targeting utility and commercial customers.
- Bombora Wave Power: Wales-based wave energy converter developer with a membrane-based WEC targeting utility-scale projects. Comparable as a European WEC developer pursuing commercialisation of marine-mounted wave technology.
- AW-Energy: Finland-based developer of the WaveRoller, a seabed-mounted wave energy converter. Directly comparable as a European WEC specialist targeting commercial deployment in northern marine conditions.
- Wave Swell Energy: Australia-based company developing oscillating water column wave energy converters targeting island and remote marine microgrids. Comparable as a WEC company pursuing off-grid offshore power where diesel is the incumbent.
Emerging players
- CalWave Power Technologies: California-based early-stage WEC developer focused on modular wave energy devices for utility and offshore applications. Emerging peer with similar modularity and offshore-power ambitions as ZOEX.
- Verlume: Aberdeen-based provider of subsea energy storage and power management solutions for offshore O&G and renewables. Overlaps with ZOEX's marine-power customer base and Scottish ecosystem, but competes with a battery/storage rather than wave-energy approach.
Regional players
- Krucial: Scotland-based connectivity and IoT provider targeting remote offshore and aquaculture assets. Comparable in customer base (Scottish aquaculture and offshore operators) and in monetising power + data at remote marine sites, though focused on communications rather than generation.
Others
- SAIC (Scottish Aquaculture Innovation Centre): Scottish innovation centre supporting aquaculture sector innovation and commercialisation. Ecosystem partner rather than direct competitor, but indicative of the buyer-side cluster that ZOEX's aquaculture go-to-market depends on.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
ZOEX social profiles
Digital presenceZOEX financial estimates
Financial estimateRevenue estimate
Valuation estimate
ZOEX leadership team
Management profileNumber of profiles
Profiles1 record
ZOEX funding detail
Funding detailFunding overview
Funding rounds2 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ZOEX M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ZOEX
What does ZOEX do?
ZOEX designs, manufactures, and sells modular Wave Energy Converter (WEC) systems that generate clean electricity from ocean waves using a patent-pending double-link arm mechanism with an Electro-Mechanical Generator (EMG) and a compliant Yokohama rubber fender. The systems are offered as 100kW or 20kW modular units that can be multiplied and attached to existing marine structures to power offshore off-grid applications including aquaculture fish farms, oil & gas and CCS subsea infrastructure, and marine IoT sensors.
Is ZOEX a public or private company?
ZOEX is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was ZOEX founded?
ZOEX was founded in 2015. It employs 1 to 10 people.
Where is ZOEX based?
ZOEX is headquartered in Aberdeen, United Kingdom, in the Europe region.
How does ZOEX make money?
Two revenue lines are on record. Wave Energy Converter Hardware Sales are the primary driver. The others are clean Energy Generation.
Who are ZOEX's main competitors?
Direct peers on record are CorPower Ocean, Mocean Energy, Eco Wave Power, Bombora Wave Power, AW-Energy and Wave Swell Energy. Emerging players are CalWave Power Technologies and Verlume. Krucial is listed as a regional player. SAIC (Scottish Aquaculture Innovation Centre) is listed as an others.
Does ZOEX have an API?
No public API is recorded for ZOEX.
What industry is ZOEX in?
ZOEX's product category is Wave Energy Conversion / Marine Renewable Energy Hardware. Its primary akta.pro industry code is EUACAJAC, Wave Energy Converter (WEC) Power Generation, with a secondary code of EUAMAOAD, Marine & Hydrokinetic R&D (Tidal, Wave, River Current, OTEC). Its NAICS code is 335311 and its SIC code is 3621.