• Oscilla Power

OSCILLA POWER ANNOUNCES LAUNCH OF STARTENGINE INVESTMENT OPPORTUNITY

Updated: Aug 10

July 14, 2021


Oscilla Power, Inc is pleased to announce the launch of a private placement offering in accordance with Regulation Crowdfunding (Reg. CF) adopted by the U.S. Securities and Exchange Commission (SEC) through StartEngine.


More information on this Crowdfunding can be found at

https://www.startengine.com/oscilla-power


The goal for this round of fundraising is $3 million with proceeds used to fund the development and deployment of Oscilla’s first utility-scale megawatt-size system in India.


OPI has developed the Triton wave energy converter. Known as a ‘multi-mode point absorber’, it consists of a highly optimized surface float and a hanging ring-shaped reaction structure, connected below the float on three taut, flexible tendons.


Unlike most conventional wave energy devices, Triton can extract energy from ocean waves in all six degrees of freedom (heave, pitch, surge, roll and yaw) allowing for increased energy capture across a wider range of ocean conditions.


Oscilla has identified that an optimum go-to-market strategy for the utility scale system will be on the west coast of India. According to Oscilla Power’s President, Balky Nair, “Unlike western markets, India has a tremendous need for new power plants to meet the demands of its rapidly growing middle class and industry. To meet growth in electricity demand over the next twenty years, India will need to add a power system the size of the European Union to what it has now”.


Oscilla Power is currently in the process of deploying their 100kW Triton-C system in Hawaii and fully expects to deploy a sub-scale test of the next generation system in Maine, US in 2022. These deployments will confirm the utility-scale design, and should lead to deploying a 1MW system on the southwestern coast of India in 2024.