CalWave, led by Cyclotron Road Innovator Marcus Lehmann, has placed 2nd out of 92 teams in the US Department of Energy Wave Energy Prize.

As runner up, Calwave was awarded $500,000 to continue development of its high efficiency deep water wave energy converter.

According to the press release from DOE, the18-month design-build-test competition… focuses on catalyzing the development of game-changing wave energy converters that will ultimately reduce the cost of wave energy. Wave energy technology could one day provide clean, cost-competitive, reliable energy for homeowners, communities, businesses, and government in geographically suited parts of the United States.”