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Funding Boost for Maritime Clean Energy

Canadian renewable energy start-up Voltai has secured $1.83 million in pre-seed funding to advance its wave energy technology aimed at decarbonizing the global shipping sector. The investment round was led by Invest Nova Scotia, with additional participation from an angel investor group headed by Mahir Sahin, former advisor to Alphabet’s Moonshot Factory X and founder of Cloudberry Ventures.

Electrostatic Generators for Wave Energy

Voltai’s innovation centers on electrostatic generators designed to capture kinetic energy from both ocean waves and vessel movements, converting it into electricity. Unlike traditional marine energy systems, the generators can be installed on moving vessels without creating drag, offering a cost-effective and scalable renewable energy solution for maritime applications.

“Our electrostatic generator, with its unique energy conversion mechanism, makes wave energy conversion efficient and commercially viable,” said Jen Fuccillo, Investment Principal at Invest Nova Scotia.

Accelerating Commercialization

According to Voltai, the funding will be used to accelerate technology development and commercialization in the maritime sector, where demand for decarbonization solutions is growing rapidly.

“The support we’ve received from Invest Nova Scotia and our investors is both exciting and validating,” said Maja Maher, Voltai’s CEO and Founder. “It reinforces our belief in this technology and its potential to help the shipping industry reach net-zero targets. This funding allows us to fast-track our development and bring real, scalable solutions to a sector that urgently needs them.”

Global Potential for Renewable Ocean Power

Backers emphasized the importance of Voltai’s breakthrough in tackling the historic challenges of wave energy. By making ocean power practical and deployable on vessels, the company could help reduce greenhouse gas emissions, enable localized renewable energy generation, and contribute to global maritime sustainability efforts.

“By harnessing the power of the ocean as a renewable energy source, Voltai could unlock vast potential in Nova Scotia and globally,” Fuccillo added. “This is a promising solution to decarbonize industries, develop localized energy production, and reduce environmental impact.”

Next Steps: Seed Round Expansion

With the pre-seed round now closed, Voltai is preparing to launch a seed funding round to expand and scale its wave energy solutions. The company aims to position itself as a key player in the global maritime energy market, driving innovation at the intersection of clean energy and shipping.