We are addressing energy supply security and affordability, ocean sustainability, and climate change mitigation for islands and remote coastal areas. We develop onshore-type Wave Energy Converters called INWave™. INWave™ does not require any underwater cable which reduces the effects on seabed, eases O&M costs, lowers CAPEX, therefore allows easy market entry and off-grid or micro-grid suitability. Also, many remote islands rely heavily on diesel generators for electricity which hampers climate and economic resilience by dependence on fossil fuels and oil prices fluctuation. More predictable, instead of using diesel generators, waves complement solar in providing clean and stable energy year-round. Compared to solar, wave energy is more powerful and more consistent. Unlike other types of power plant, our plant requires smaller space on land. Besides protecting inhabitants from diesel pollution and encouraging economic development, wave energy capacity may provide desalination facil...
We are addressing energy supply security and affordability, ocean sustainability, and climate change mitigation for islands and remote coastal areas. We develop onshore-type Wave Energy Converters called INWave™. INWave™ does not require any underwater cable which reduces the effects on seabed, eases O&M costs, lowers CAPEX, therefore allows easy market entry and off-grid or micro-grid suitability. Also, many remote islands rely heavily on diesel generators for electricity which hampers climate and economic resilience by dependence on fossil fuels and oil prices fluctuation. More predictable, instead of using diesel generators, waves complement solar in providing clean and stable energy year-round. Compared to solar, wave energy is more powerful and more consistent. Unlike other types of power plant, our plant requires smaller space on land. Besides protecting inhabitants from diesel pollution and encouraging economic development, wave energy capacity may provide desalination facilities with clean energy, transforming local water supply into a sustainable cycle.

We pursue a business model focusing on equipment sales and supplying materials or services for maintenance to large and small power generating companies. Also, the licensing relationship with the entity to act on project development, operation, and maintenance services is part of the business model. We also aim at operating its own power generation company as it grows in the future.

For its commercialization process, we have been targeting areas with superior wave energy resources (sites with 10kW/m or above). Markets all over the world provide incentives for the development of new energies. Some provide specific incentives for tidal and wave energy development as the next important renewable energy after solar and wind power. These support mechanisms will enable us to optimize our technology and business in such locations. We are also focusing on micro/off-grid areas. These areas usually face the problem of energy insecurity due to isolated location, unfavorable weather conditions, and technical factors. These areas mainly rely on diesel power generation, which suffers from energy prices much higher than in on grid areas (on average six times more expensive). Furthermore, small population size prevents access to modern energy services as many technologies require high CAPEX which is hard for locals to afford.
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Minh Duc DUONG
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Minh Duc DUONG Business Development Minh Duc Duong is Business Development Manager at INGINE Inc who is in charge of projects in Vietnam and global marketing.