The global transition to clean energy has sparked significant interest in alternative renewable sources beyond solar and wind. Among these, wave and tidal energy harvesting stands out as a promising frontier. Unlike intermittent renewables, ocean energy is predictable, reliable, and vast, making it a crucial part of the future energy mix. Tidal energy harvesting captures the kinetic and potential energy from ocean tides, while wave energy harnesses the movement of surface waves. Together, they present a game-changing opportunity for sustainable power generation.

According to Linknovate data, wave and tidal energy remains an R&D-heavy field, still largely investigated within universities and research institutes. However, in recent years, startups and small-to-medium businesses (SMBs) have begun taking the lead, transforming research into deployable technologies. These innovators are pushing forward commercial viability, testing prototypes, and securing strategic partnerships to scale ocean energy solutions.

Below, we highlight the top 10 startups pioneering wave and tidal energy shaping the future of marine renewables.

Top Wave Energy and Tidal Energy Startups

1. Orbital Marine Power (UK)

Known for its floating tidal stream turbines, Orbital Marine Power has developed the O2 turbine, the world’s most powerful tidal turbine. Its technology delivers clean and predictable electricity directly into the grid.

2. Minesto (Sweden)

Minesto is famous for its “Deep Green” technology: an underwater kite system designed to harness energy from low-velocity tidal and ocean currents.

3. ZOEX Power (UK)

Aberdeen-based ZOEX Power has emerged as the UK’s first female-founded wave energy firm. In May 2025, it raised £531,000 (around $715,000) in funding to support the development of its wave energy converter (WEC) technology. 

4. Nova Innovation (UK)

Nova Innovation has deployed operational tidal turbines in Scotland’s Shetland Islands and continues to expand globally with a strong emphasis on community-based tidal energy projects.

5. Carnegie Clean Energy (Australia)

Carnegie’s CETO technology uses fully submerged buoys tethered to seabed pumps, providing both renewable electricity and desalinated freshwater.

6. Seabased (Sweden)

Seabased develops wave energy converters that use linear generators placed on the seabed, offering scalable and grid-compatible energy solutions.

7. AW-Energy (Finland)

Known for its patented WaveRoller technology, AW-Energy installs oscillating panels on the seabed to capture nearshore wave energy, supplying renewable electricity to coastal grids.

8. ORPC (USA)

Ocean Renewable Power Company (ORPC) develops river and tidal hydrokinetic systems. Its RivGen® Power System delivers renewable power to remote communities and island nations.

9. Magallanes Renovables (Spain)

Magallanes is pioneering floating tidal platform technologies that generate renewable electricity from strong tidal currents, already undergoing full-scale sea trials.

10. CorPower Ocean (Sweden)

CorPower Ocean is advancing high-efficiency wave energy converters inspired by the pumping principles of the human heart, aiming for large-scale, cost-competitive ocean energy.

Future Trends in Tidal Energy

Wave and tidal energy harvesting is no longer confined to academic laboratories. While universities remain central to R&D, it is startups and SMBs that are rapidly pushing the boundaries of ocean energy innovation. 

From underwater kites to floating turbines, these companies are laying the groundwork for a sustainable future powered by the sea. As investment grows and technology matures, the coming decade may finally see ocean energy take its rightful place alongside solar and wind as a core component of the global energy mix.

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