SEATTLE, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Oscilla Power was honored as a Finalist in Fast Company’s Innovation by Design Awards for 2023 in the Sustainability category for its Triton wave energy converter (WEC).
Oscilla Power’s Triton™ wave energy converter (WEC) will make ocean wave energy a viable resource that can complement solar and wind in many locations worldwide including the US West Coast. The innovative design of the Triton overcomes the main limitations that have prevented ocean wave energy from being adopted previously by offering increased levels of energy capture, conversion efficiency, and survivability in the harsh ocean environment.
“The secret to our ability to produce clean energy consistently, economically, and sustainably from waves is the unique system architecture of the Triton,” said Balky Nair, Ph.D., co-founder and CEO of Oscilla Power. “It is an honor to be recognized by the judges and editors at Fast Company for such a fundamental aspect of our business. I would like to thank our investors and funding agencies, especially the US Department of Energy, Water Power Technologies Office, for their faith in us. This is also a significant recognition of their vision.”
“The Triton design is a result of many years of sustained effort and innovation by our technical team. Fast Company’s recognition is greatly received and provides important motivation for us to push the Triton system towards commercial-scale deployments,” said Tim Mundon, Chief Technology Officer of Oscilla Power.
The Innovation by Design Awards, which can be found in the September 2023 issue of Fast Company, honor the designers and businesses solving the most crucial problems of today and anticipating the pressing issues of tomorrow. The competition, now in its 12th year, features a range of blue-chip companies, emerging startups, and hungry young talents. It is one of the most sought-after design awards in the industry.
“So much innovation news these days is focused on AI,” said Brendan Vaughan, editor-in-chief of Fast Company. “This year’s Innovation by Design honorees are a reminder that it’s human ingenuity that drives invention.”
The Fast Company recognition comes on the heels of the Triton System being named one of TIME’s top 200 inventions for 2022. In addition, Oscilla just recently completed a successful preliminary ocean test of the smaller 100kW Triton-C system in Hawaii.
The judges include renowned designers from a variety of disciplines, business leaders from some of the most innovative companies in the world, and Fast Company’s own writers and editors. Entries are judged on the key ingredients of innovation: functionality, originality, beauty, sustainability, user insight, cultural impact, and business impact.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
About Oscilla Power
Founded in 2009 in Seattle, Oscilla Power develops novel wave energy systems that produce power at a lower levelized cost than traditional wave energy systems which are cost-competitive with incumbent systems. Its core Triton wave energy platform is engineered to produce renewable power at a levelized cost that is competitive with current clean energy costs. Oscilla Power is producing two wave energy systems with this multi-mode architecture: the Triton and the Triton-C. The Triton is a 1 MW rated power system that is designed to be installed in large arrays to provide utility-scale power while the Triton-C is a 100 kW system designed for isolated power-at-sea applications or remote communities. More information can be found at www.oscillapower.com.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3bb11562-0b84-4769-a107-978e139b2f13
