Wavepiston
Wavepiston, a pioneering Danish enterprise, stands at the intersection of two critical global challenges: renewable energy scarcity and freshwater shortages. With an innovative approach to wave energy conversion, Wavepiston has developed a groundbreaking technology that not only generates clean electricity but also produces fresh drinking water—all while maintaining minimal environmental impact. Their journey from concept to commercial viability exemplifies the power of visionary entrepreneurship supported by strategic funding.
October 2022
Project start
When Wavepiston first connected with Generous Minds in October 2022, their potential was immediately evident. Led by CEO Michael Henriksen, the company had developed a patented force-balancing concept that drastically reduces the load on anchors, resulting in a lightweight, cost-effective system that remains fully submerged with minimal visual impact.
In the video below, CEO Michael Henriksen explains how the Wavepiston concept works in practice.
December 2023
Strategic
partnership
Despite their promising technology, Wavepiston faced significant funding challenges. Wave energy—often considered a "red flag" for investors due to perceived high risks—required substantial capital investment to move from testing phases to commercial implementation. The company needed approximately €42 million across multiple funding rounds between 2023-2028 to realize their vision of bringing wave energy to the world.
"It became clear that Wavepiston was a potential game-changer that could transform the renewable energy landscape, but securing investment would be one of our most challenging endeavors."
– The Generous Minds Money team
What began as a low-threshold collaboration, quickly evolved into a comprehensive long-term partnership. Recognizing the transformative potential of Wavepiston's technology, Generous Minds committed to an exclusive arrangement spanning 2023-2028, taking ownership of all funding activities.
The Generous Minds Money team—led by Ronald Beuk, and Jurek Hryniuk, Brian Kwakman– created different integrated capital approaches to secure long and short term financing for this high-risk, high-reward venture. While navigating through the complex funding landscape, they created a compelling list of potential investors interested in wave energy technologies.
During this phase, Generous Minds worked closely with Wavepiston to refine their investor narrative, highlighting the dual benefits of their system: clean electricity generation combined with freshwater production. This unique value proposition distinguished Wavepiston from other renewable energy solutions, particularly for coastal communities facing both energy and water security challenges.
With the bridge funding secured, Wavepiston is now positioned to accelerate preparations for larger-scale offshore projects in target regions such as Barbados, Gran Canaria, and Martinique. These locations serve as ideal testing grounds for Wavepiston's technology, offering both significant wave energy potential and communities that would benefit from sustainable energy and water solutions.
Wavepiston's system offers several distinct advantages that make it particularly valuable in these regions:
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Fully submerged design with minimal visual impact on coastlines
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Scalable, modular approach allowing for customized implementation
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Dual-purpose capability producing both electricity and freshwater
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Complementary to other renewable energy sources, providing stability when sun and wind are unavailable
The successful funding round represents more than just capital—it signals growing market confidence in wave energy's potential and Wavepiston's unique approach to harnessing it.
2025 - 2028
Future vision
Looking ahead, Generous Minds and Wavepiston are already preparing for the next major funding rounds, targeting €20-40 million to support full commercial deployment. With numerous interested investors already identified, the partners are confident in their ability to secure the necessary capital to bring Wavepiston's technology to global markets.
"It's a pleasure collaborating with Generous Minds, a group of dedicated people with hearts and minds in the right place who want to make a positive impact in the world."
– Michael Henriksen, CEO of Wavepiston
For coastal communities worldwide, Wavepiston's technology holds transformative potential—offering an environmentally friendly alternative to traditional energy sources while addressing pressing needs for renewable energy scalability and freshwater access.
The Generous Minds support of combining strategic expertise with access to impact-focused capital has proven successful in closing this important bridge round. By applying our long-term 'Integrated Capital' approach, combined with our 'no-value-no-pay' and 'fair-pricing' principles, demonstrate how patient, purpose-driven support can help bring world-changing technologies to fruition.
As Wavepiston continues its growth trajectory, this partnership stands as a powerful example of how Minds & Money can come together to co-create solutions to some of our world's most pressing challenges.
2025
Scaling impact
A pivotal moment in Wavepiston's journey occurred with the successful deployment of their upgraded energy collectors at the PLOCAN test site in Gran Canaria. These third-generation energy collectors represented a significant technological advancement, incorporating lessons learned from previous deployments to enhance performance and reliability.
The installation of the first energy collector in early 2024 was a watershed moment that signaled Wavepiston's transition from theoretical potential to demonstrable results. This real-world testing provided crucial validation of the technology's viability in offshore conditions, generating valuable experimental data that would prove essential in conversations with potential investors.
See the Wavepiston Module live in action below!
January 2024
Critical real
world testing
After 2.5 years of teaming up with dedicated effort, Wavepiston successfully closed a critical funding round totaling €1.87 million—a pivotal milestone that validated both the technology and the strategic partnership approach.
The funding comprised:
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Through crowdfunding platform Seedrs
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A part from a Canadian investor
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And a big part from the Dutch investment fund The Blue Line, consisting of Connect the Drops founded by Jan Otto Ooms and the Unknown Group.
This breakthrough was made possible by leveraging Generous Minds' extensive network of impact investors. Particularly significant was the introduction to Jan Otto Ooms, founder of Connect the Drops, through Generous Minds expert Jacco de Haan.
"Innovation and sustainability go hand in hand. By harnessing wave energy to produce clean drinking water, we take a significant step toward a future where renewable energy and water security come together."
– Jan Otto Ooms, founder of Connect the Drops
March 2025
Bridge funding
secured