Empowering Innovation: NoviOcean Receives Vinnova Funding for Wave Power Development

Accelerating Progress in Sustainable Energy Solutions

Vinnova funding for NoviOcean, wave power developer

Empowering Innovation: NoviOcean Receives Vinnova Funding for Wave Power Development

Last week, we got the green light from Vinnova regarding a 900K SEK grant for the “Innovative Startups phase 2” programme. With Vinnova’s support, we will be able to further improve the design and function of our prototype unit (NO1). We will also evaluate and connect with future potential suppliers as well as update our IP strategies and business plan.

– Moreover, a critical aspect of our work during the “Innovative Startups phase 2” project will be to focus on deepening our understanding of the market needs and improving our cost estimates. We will also focus on effective engagement with our partners and potential customers, says Jan Skjoldhammer CEO and founder of Novige AB

After testing the prototype for 2 weeks in the wave tank plus 6 weeks offshore, we have now gained invaluable insights on how we should tweak the PTO (Power Take Off) design for even better performance. The prototype is now back at our test rig (built using a previous grant from Åforsk) at KTH Royal Institute of Technology. More dry tests are being planned to be performed under another project.

Please watch our showcase video here

We invite journalists, market actors, philanthropists, and foundations who are interested in joining us in “saving the climate with profitable wave power” to contact us and possibly come and see the NO1 prototype at KTH in Stockholm. For more information, please contact Jan Skjoldhammer Jan.skjoldhammer@noviocean.energy



Wave Energy

Our Journey

Future Goals

Investor Portal

1 MW Hybrid Solution
650 kW Wave, 300 kW Wind, 50 kW Solar.
(40% capacity Factor | 3.5 GWh /unit/year)

Lighter, low LCOE, more powerful – the future of clean, efficient energy

Wave energy: 5x denser than wind, 10x solar, available 24/7, highly predictable.

Since 2016, pioneering simplicity, efficiency, and sustainability in cleantech

By 2030, 0.5 GW contracted, and by 2050, 10 GW, reflecting our ambition to campture 25% of the EU’s 2050 target, worth  E 30 billion in Europe alone. The global market is six times larger  

Structured path: Full-scale prototype 2022, commercial phase by 2029. Cost-efficient tech, global partners, and a sustainable future. Let’s connect!