- Jan 19, 2021

4 years SINN Power - a retrospective of the past year

More than four years have passed since the startup SINN Power was founded in November 2014. Founder & CEO Philipp Sinn looks back on the last year on the occasion of a firm party.

Highlights of 2018 at a glance:

Financing round over € 4.7 million
Installation of 2nd generation of wave energy converter (WEC) modules
Usable electricity from ocean waves for the first time
First customer project in Africa
Validation of safety concept during a storm in Heraklion
Summary of the highlights in video

As in the previous years, a firm party was hosted to celebrate the company's anniversary. With guests such as Umut Ertan, owner of the Schweizer Kapital Global Impact Fund AG, long-time mentor Lothar Stein and business angel Michael Kuri, the 4-year anniversary of the renewable energy startup was celebrated under the motto "electrified".

Founder and CEO Dr. Philipp Sinn reviewed the last 12 months in an emotional speech and was able to draw a more than positive conclusion:

Founder and CEO Philipp sums up the past year

April 2018 - Financing round over € 4.7 mio

In April 2018, SINN Power and the Schweizer Kapital Global Impact Fund AG, represented by Umut Ertan, completed a financing round. By becoming a shareholder with a capital investment of 4.7 million euros, "Schweizer Kapital" and the startup SINN Power agreed on a common future. SINN Power's revolutionary technology is to be developed to market maturity by 2022 with the resources made available.

Philipp Sinn and Umut Ertan (owner Schweizer Kapital Global Impact Fund AG) after closing the financing round

May 2018 - Installation of 2nd generation of wave energy converter (WEC) modules

The next highlight followed in May: The construction of two WEC modules of the latest generation in Crete marked another important milestone in the company’s history. As part of a research project funded by the German government, a total of five modules are to be erected on the port wall of Heraklion, Greece, by 2019. Compared to the first generation, the second generation of the patented SINN Power WEC modules has been significantly improved in many aspects.

The SINN Power engineers with the completed supporting structure

June 2018 – Usable electricity from ocean waves for the first time

At the end of June, the two WEC modules were successfully put into operation. SINN Power has achieved a pioneering status, as the company is among the first to have succeeded in generating regulated, stabilized and thus grid-capable electricity from the power of ocean waves.

With this successful implementation of wave energy, SINN Power now provides a durable solution for supplying power from ocean waves to mini- and off-grid systems.

The SINN Power team with the two WEC modules in Heraklion

August 2018 – First customer project in Africa

August 2018, SINN Power announced the launch of a paid feasibility study in West African Guinea. On behalf of Guinea Gold PLC, SINN Power was commissioned to conduct a 9-month feasibility study in the Guinean capital of Conakry to assess the potential of wave energy and other renewable sources of energy.

The aim of the feasibility study is a site-specific recommendation for an ideal, customized renewable hybrid system that meets the needs of the customer Guinea Gold PLC.

For this purpose, SINN Power installed autonomous measuring systems for renewable energies in Conakry, opening the second phase of the project. The measured data is incorporated as the main constituent of the site-specific recommendation.

Setup of the self-developed measuring station in Conakry, Guinea

October 2018 – Validation of safety concept during a storm in Heraklion

During the late part of the year, however, the wave power modules in Greece also have to pass a hardness test. Strong autumn storms with wave heights of more than 7 meters are blowing before the Greek island of Crete. Thanks to the new safety concept, which allows the entire modules to be submerged, they were able to be put back into operation after the storm had ended.

The SINN Power WEC module during autumn storm in Heraklion

In his closing words, Sinn implicitly thanked the entire SINN Power Team. Many employees have been with the team from the very beginning and have been providing long-term support for four years. Without the diligence and motivation that every single employee brings to the company, SINN Power would never have been able to achieve so much in such a short time.

The SINN Power Team at this year's firm party

Prospects for 2019

Even though 2018 has been a successful year, the plans for 2019 are already in the making. The major milestones for the coming year are the following: