Seabased
- Company typePrivate
- Founded2001
- HeadquartersDublin, Ireland
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Seabased does
Seabased is a wave-energy technology company that designs, develops, and plans to deliver utility-scale wave power parks for island governments and coastal utilities. Founded in 2001 as a spin-off from Uppsala University by professors Mats Leijon and Hans Bernhoff, the company holds what it describes as over 200 patents covering its core technology and operates the world's first grid-connected multi-generator wave park (36 generators) at Sotenäs, Sweden. Its product is a seabed-mounted linear generator system: buoys on the ocean surface transmit wave motion via cable to ~8-meter cylindrical linear generators anchored at 20–50 meters depth, with output aggregated through a marine substation and delivered to shore as grid-ready power. The system is modular (container-shippable), optimized for 1–3 meter wave climates common in populated mid- and lower-latitude regions, and the concrete bases are designed as artificial reefs that have measurably increased local marine biodiversity (e.g., Norway lobster populations doubled, brown crab +50%).
Seabased's commercial model is project-based and government-focused, with revenue intended to come from hardware sales of wave power parks (2MW pilot to 10–40MW commercial scale) plus advisory and feasibility services. It has signed MoUs or agreements with the Governments of Bermuda (40MW), Tonga (10MW), Barbados (10MW+ feeding green hydrogen), and Grenada (minimum 10MW), and uses the SIDS DOCK intergovernmental organization and a Caribbean distribution partner to access SIDS markets. GTM is enterprise field sales targeting heads of state and ministers of energy/environment, reinforced by participation at COP, World Ocean Summit, and Ocean Energy Europe (where Seabased holds a Lead Partner board seat), and supported by an EMEC-led third-party certification track funded in part by Interreg OESA.
The company employs 11–50 people, is privately held with no disclosed institutional investors or funding rounds, and remains pre-revenue: all disclosed projects are at MoU, regulatory-approval, or pilot stage with no recognized commercial hardware sales to date. Key uncertainties for investors are the multi-year conversion lag from MoU to commissioned megawatt, dependence on a small number of sovereign counterparties, and the absence of disclosed unit economics or LCOE benchmarks against competing marine renewables.
Seabased firmographics
Firmographics- Name
- Seabased
- Legal name
- Seabased
- Website
- https://seabased.com
- Company type
- Private
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Seabased industry classification
Industry- Product category
- Marine Renewable Energy / Wave Power Systems
- NAICS
- Electric Power Generation, Transmission and Distribution (2211), Switchgear and Switchboard Apparatus Manufacturing (335313), Power and Communication Line and Related Structures Construction (237130)
- SIC
- Engines & Turbines (3510), Switchgear & Switchboard Apparatus (3613)
- akta.pro primary industry
- Wave Energy Converter (WEC) Power Generation (EUACAJAC)
- akta.pro secondary industries
- Marine Generators, Alternators & Power Electronics (Gen-sets, VFDs, converters) (IMAJAHAI), Marine & Offshore Wind BOP Construction (Foundations, Cables, Ports, Installation Support) (EUAMAFAI), Integrated Marine Electrical Systems & Switchboards (IMAJAJAA)
Keywords
Where Seabased is headquartered
LocationHeadquarters
- HQ city
- Dublin
- HQ country
- Ireland
- HQ region
- Europe
Offices3 records
Markets served
Seabased business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Supply Chain, Infrastructure, Operations, Marketing or Sales
Revenue model
- Wave Power Park Development and Sale: Seabased develops and sells utility-scale wave power parks to island governments and utilities. Revenue comes from project development, equipment supply, installation, and potentially long-term power purchase agreements (PPAs). Projects follow a phased approach starting with 2MW pilot installations expanding to 10-40MW commercial parks.
- Advisory and Consulting Services: Seabased offers advisory services for wave energy project development, including feasibility studies, site assessments, regulatory guidance, and environmental impact analysis. The company also provides technology partnerships and software optimization services.
Go-to-market motion3 records
Distribution channels3 records
Marketing channels5 records
Seabased product offering
Product offeringCore offering
Seabased designs, builds, installs, and maintains utility-scale, turnkey wave energy power parks. Its proprietary system uses point absorber technology with seabed-mounted linear generators connected by cable to surface buoys; wave motion drives translators inside the generators to produce electricity that is routed through a marine substation to grid-ready power. The company also offers advisory and consulting services for wave energy project development, including feasibility studies, site assessments, and regulatory guidance.
Product overview
Seabased is the world's first Blue Energy Company, offering a comprehensive wave power solution consisting of Wave Power Parks (the core product), Wave Energy Converters (linear generators that rest on the seabed), and supporting systems. The Wave Energy Converters connect to surface buoys that translate wave motion into electricity, which is then processed through marine substations into grid-ready power. The company also offers Green Hydrogen Integration services and Advisory Services for project development. Their systems are designed to be modular and scalable, with installations ranging from 2MW pilots to multi-megawatt commercial parks. The Wave Energy Converters can serve as artificial reefs, supporting marine ecosystems while generating clean energy.
Differentiator
Problem solved
Functional benefit
Products and services
- Seabased Wave Power Parks Utility-scale, turnkey wave energy installations that convert ocean wave power into clean, stable electricity. Designed to generate power close to where it is needed, providing local 24/7 renewable energy supply for governments, utilities, and island communities. Installations range from 2MW pilots to multi-megawatt commercial parks.
- Wave Energy Converters (WECs) Seabased's proprietary linear generators (approximately 8 meters tall, cylindrical steel casing) that rest on the seabed at 20–50 meter depth, held in place by heavy concrete bases. Cables connect each generator to surface buoys; wave motion drives translators inside the generators to create electricity. Modular design allows shipment in standard cargo containers and installation in days using smaller vessels.
- Advisory Services Expert consulting services for wave energy project development, including feasibility studies, site assessments, regulatory guidance, environmental impact analysis, and project planning for coastal and island energy transitions. Offered to governments, utilities, and developers pursuing wave energy deployment.
Quantifiable outcome
- Tonga project: $10.5 million savings and 42 million liters of fuel displaced, providing half of Tonga's energy needs
- +4 more outcomes
Companies that use Seabased
Customer profileNamed customers4 records
Segments2 records
Ideal customer profiles2 records
Seabased technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Seabased partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Government of GrenadacoreThree-party MoU with Government of Grenada and SIDS DOCK to establish Grenada's first utility-scale wave energy park. Project begins with 2MW pilot, scaling to minimum 10MW. The MoU was announced at COP29 and represents a transformative step in Grenada's pursuit of wave energy for climate resilience and energy security.
- Barbados Investment and Development Corporation (BIDC)coreMoU signed with BIDC to build a wave power park as part of Barbados' effort to advance green hydrogen research and development. 2MW pilot expanding to 10MW or more, serving as input to BIDC's green hydrogen facility. Supports Barbados' goal to be the leading Caribbean entity driving the green hydrogen transition.
- Kingdom of TongacoreMoU signed with His Majesty's Government of the Kingdom of Tonga and SIDS DOCK to develop a 10MW Wave Power Park in Tongatapu. Phase 1 is 2MW pilot saving $2 million in foreign exchange and displacing 2 million liters of fuel. Phase 2 (8 additional MW) will provide half of Tonga's energy needs.
- Government of BermudacoreAgreement to develop what promises to be the world's first utility-scale commercial ocean wave power park. 40MW capacity will provide roughly 10% of Bermuda's energy needs. Bermuda created a regulatory sandbox for wave energy, with the Department of Environment and Natural Resources leading environmental and stakeholder consultations.
- Ocean Energy EuropecoreSeabased joined the Ocean Energy Europe Board of Directors as a Lead Partner. As a board member, Seabased VP Marcelle Askew helps steer the strategic direction of the association and ensures wave energy reaches its full industrial potential. OEE is the largest network of ocean energy professionals with over 120 member organizations including Europe's leading utilities, industrialists, and research institutes.
- European Marine Energy Centre (EMEC)coreSeabased signed agreement with EMEC to design and implement a testing programme supporting Seabased's certification goal for its wave-to-grid technology. EMEC will review the technology and advise on options to meet certification objectives. The collaboration is co-funded by the Interreg North Sea Region Ocean Energy Scale-up Alliance (OESA) project.
- Interreg North Sea Region Ocean Energy Scale-up Alliance (OESA)minorEU co-funded accelerator programme for deployment of large scale marine energy pilots. Part-funded the EMEC certification partnership to advance Seabased's wave energy technology toward commercialization.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
Seabased competitors and assessment
Company assessmentDirect peers
- CorPower Ocean: Swedish point-absorber wave energy developer using a similar buoy-and-converter architecture to Seabased. Direct head-to-head competitor in the European utility-scale wave segment and a fellow Swedish marine-energy company vying for the same EU and SIDS pipeline.
- Eco Wave Power: Israeli-Swedish wave energy company that has deployed floaters/attenuators on breakwaters and shore-attached structures. Comparable utility-scale wave power ambition and overlapping SIDS/government buyer profiles.
- AW-Energy (WaveRoller): Finnish developer of the WaveRoller, a seabed-mounted oscillating wave energy converter. Closely comparable on architecture (seabed converter, no surface turbines) and on target market (utility-scale wave parks).
- Mocean Energy: Scottish wave energy startup developing the Blue Star and Blue X wave energy converters with European certification partners (EMEC). Comparable pre-commercial stage, UK/EU regulatory pathway, and offshore-renewables focus.
- CalWave Power Technologies: California-based wave energy developer with a submerged point-absorber design. Direct technology peer with US Department of Energy backing, comparable pre-commercial stage.
- SINN Power: German wave energy company developing modular wave energy converters for island and coastal applications. Comparable modular architecture and island/coastal utility target market.
- Orbital Marine Power: Scottish tidal-stream developer (O2 floating turbine) and direct competitor for the same UK/EU marine-energy certification pathways, EMEC testing slots, and utility offtake relationships.
- Minesto: Swedish marine energy company developing the Dragon Class tidal kite. Fellow Swedish marine-energy peer competing for the same EU/OEE policy influence and utility relationships.
Broad incumbents
- Vestas: Global leader in offshore wind, the dominant marine-renewables incumbent. Competes with Seabased for the same utility procurement slots and grid-stabilization value, though wind is variable whereas wave is firm.
Others
- Ocean Energy Europe: Industry association in which Seabased holds a board seat. Functions as the sectoral trade body setting certification standards, EU funding priorities, and utility engagement frameworks that materially shape Seabased's go-to-market.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Seabased social profiles
Digital presenceSeabased financial estimates
Financial estimateRevenue estimate
Valuation estimate
Seabased leadership team
Management profileNumber of profiles
Profiles8 records
Seabased funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Seabased 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 Seabased
What does Seabased do?
Seabased designs, builds, installs, and maintains utility-scale, turnkey wave energy power parks. Its proprietary system uses point absorber technology with seabed-mounted linear generators connected by cable to surface buoys; wave motion drives translators inside the generators to produce electricity that is routed through a marine substation to grid-ready power. The company also offers advisory and consulting services for wave energy project development, including feasibility studies, site assessments, and regulatory guidance.
Is Seabased a public or private company?
Seabased is a private company. It is classified as unknown and is currently operating.
When was Seabased founded?
Seabased was founded in 2001. It employs 11 to 50 people.
Where is Seabased based?
Seabased is headquartered in Dublin, Ireland, in the Europe region.
How does Seabased make money?
Two revenue lines are on record. Wave Power Park Development and Sale is the primary driver. The others are advisory and Consulting Services.
Who are Seabased's main competitors?
Direct peers on record are CorPower Ocean, Eco Wave Power, AW-Energy (WaveRoller), Mocean Energy, CalWave Power Technologies, SINN Power, Orbital Marine Power and Minesto. Vestas is listed as a broad incumbent. Ocean Energy Europe is listed as an others.
Does Seabased have an API?
No public API is recorded for Seabased.
What industry is Seabased in?
Seabased's product category is Marine Renewable Energy / Wave Power Systems. Its primary akta.pro industry code is EUACAJAC, Wave Energy Converter (WEC) Power Generation, with a secondary code of IMAJAHAI, Marine Generators, Alternators & Power Electronics (Gen-sets, VFDs, converters). Its NAICS code is 2211 and its SIC code is 3510.