Inge Bakke developed the wave power concept with flexible turbine blades.

Inge Bakke participated in courses for start-up companies.

Inge Bakke filed an application for a patent of the wave power turbine.

Innovation Norway financed an assessment of the Subwave concept. This resulted in a short report: Strømsem, Karl Christian: Concept Evaluation for Torpedo Wave Turbin, Global Maritime AS, an assessment carried out for Innovasjon Norge rev 2014.

Waveco AS was founded on November 1.

1. Per Håkon Stenhaug, Oslo and Pål A. Dahl, Førde joined the board.

2. Waveco AS awarded entrepreneurship from the law firm Wikborg Rein, with one year's free legal advice. Per Håkon represented Waveco at a celebration in the law firm's office in Oslo.

3. Inge Bakke was awarded a patent for the Subwave wave power turbine.

4. Waveco AS participated in the idea competition Climate Launchpad, won third place in the national final in Trondheim and representation at the European final in Tallinn, Estonia.

5. Haakon Skar and Rudolf Pearn, Trondheim, from the innovation start-up T:Lab, joined forces with Waveco. Inge and Haakon went to Tallin where Haakon did the pitch based on Rudolf’s PowerPoint. Among 90 participating concepts, Waveco reached the final heat of 15 companies which pitched in plenary.

1. Pål, Per Håkon, Rudolf and Haakon all went into new jobs and left Waveco.

2. Stadpipe AS and Måløy Smie og Mekanisk Verksted AS helped build a model of the wave power turbine.

3. Waveco AS became a member of the industry cluster GCE Subsea.

4. Two student groups at Western Norway University of Applied Sciences chose bachelor assignments from Waveco.

1. Both student groups completed their bachelor assignments in the spring semester.

2. One of the groups tested the model in Stadt Towing Tank. Bachelor thesis: Helgesen L., Ramstad K. R., Svardal A. K.: Development of braking device for wave power turbine. Bachelor thesis, University College of Western Norway 2018 (Norwegian).

3. Waveco AS was awarded NOK 100,000 from Innovation Norway for market research for a self-positioning observation buoy.

4. Waveco AS participated as an exhibitor at ONS in Stavanger, in collaboration with GCE Subsea (have changed the name to GCE Ocean Technology).

5. Waveco AS awarded NOK 100,000 in pre-project support from GCE Subsea.

6. Waveco AS awarded NOK 100,000 in business support from Sparebanken Vest.

7. Arne Kaland Sværen became a new team member.

8. The wave power patent was transferred from Inge Bakke to Waveco AS.

9. Two new student groups at Western Norway University of Applied Sciences chose bachelor assignments from Waveco.

1. Both student groups and their supervisors came to visit Stadt Towing Tank and EasyForm in Måløy, arranged by Waveco.

2. Both student groups completed their bachelor assignments in the spring semester.

3. Inge Bakke participated in a study trip to European Marine Energy Centre (EMEC) in the Orkney Islands with support from and together with GCE Ocean Technology.

4. Inge Bakke made two contributions to the International Conference on Maritime Hydrogen and Marine Energy in Florø.

5. Waveco was awarded a support package from Interreg North-West Europe Marine Energy Alliance (MEA). This included research efforts from research institutions in Ireland, the Netherlands and France, based on topics defined by Waveco.

6. One student group from Western Norway University of Applied Sciences chose a bachelor assignment from Waveco.

7. Waveco resigned from GCE Ocean Technology due to a lack of means.

1. The Corona Epidemic forced the student group at Western Norway University of Applied Sciences to complete the bachelor thesis without experimenting with physical models.

2. Arne Kaland Sværen entered as a board member.

3. Reports received as service provision for Waveco AS under Marine Energy Alliance:

• Anton Schaap: Conceptual design of the Waveco self-positioning observation platform, Dutch Marine Energy Centre, 18-08-2020.

• Anton Schaap, Simon Stark: Conceptual design of Waveco utility-scale wave power, Dutch Marine Energy Centre, 13-11-2020.

4. The Research Council of Norway allocated NOK 190,000 to Waveco for hydrodynamic analysis of Waveco's Automar concept to be performed by NORCE Norwegian Research Centre.

1. Reports received based on student assignment proposals from Waveco:

• Truls Kjøsnes Olsen: Dynamic Positioning of Power Generating Buoy, Norwegian University of Science and Technology, January 2021.

• Truls Kjøsnes Olsen: Modeling and Analysis of a Dynamic Positioning System for a Wave Energy Converter, Norwegian University of Science and Technology, Master’s thesis in Engineering Cybernetics, June 2021.

2. Reports received based on assignments from Waveco financed by Forskningsrådet:

• Leonid Vasilyev, Autonomous observation buoy: Evaluation of concept, NORCE Norwegian Research Centre AS, March 2021.

3. Conference paper accepted by the European Wave and Tidal Energy Conference, Plymouth, September 2021:

• A.B. Schaap, S.J. Stark, I. Bakke: Development of the Waveco passively adaptive twisting rotor blade, Conference Paper, European Wave and Tidal Energy Conference 2021.

4. Reports received as service provision for Waveco AS under Marine Energy Alliance:

• Schaap. et al: Waveco Wave Energy Converter Technology and Development Path Assessment, Ocean Power Innovation Network, February 2021.

• Pierre Benreguig, Thomas Soulard: Assessment of the performance level of the Waveco concept for Utility Power, Report, Ecole Central Nantes, 2021.

• Pierre Benreguig,Thomas Soulard: Recommended develop plan for Waveco, Report, Ecole Central Nantes, 2021.

• Exceedence Ltd.: Market Research Report on Ocean Observation, November 2021.

Development of a professionally designed investor presentation for the ocean observation buoy concept Automar.

The Automar concept was presented to a large number of Norwegian investor environments. No interest.

Development of the Pendulum wave energy converter.

March 23, 2022, together with Sandia National Laboratories, California: Application to the US TEAMER program (Testing & Expertise for Marine Energy) for the Automar concept. Dismissed.

October 19, 2022, together with the Southwest Research Institute, Texas: Application to the US TEAMER program for the Pendulum wave energy converter concept. Dismissed.

Waveco gave a presentation at the Underwater Technology Conference in Grieghallen, Bergen, Norway, on 23 May about our new concept for wave power conversion, the Pendel Wave Energy Converter.

Waveco AS sent three applications to the American TEAMER program, during 2023. Along with

• Sandia National Laboratories regarding the Pendel concept

• Southwest Research Institute regarding the Pendel concept

• Sandia National Laboratories regarding a new tidal concept

All applications were dismissed.