Benchmarked at the Shenzhen Innovation & Entrepreneurship International Competition

The 8th China (Shenzhen) Innovation & Entrepreneurship International Competition ran its national and global finals through 2024. NoviOcean entered in marine energy and was assessed, as every entrant was, by a panel of investors, professors and scientists.

The result

Three placings, from the Swedish final through to the global final. externally validated

• First place — Sweden final.
• Second place — marine energy, global category.
• Tenth place — global final, all sectors.

NoviOcean’s public record now stands at five competition wins from five entries. externally validated Alongside Shenzhen there are Startup 4 Climate (Winner, 2023), the Guldstänk Innovator of the Year award, the Stena Line Propeller Prize 2021 and Sweden’s Mission Innovation Champion title. The European Commission’s Seal of Excellence sits beside them as a quality award in a non-competition category — it is not a competition win, and NoviOcean does not present it as one. The full record is on Awards & Support.

What a competition result is, and what it is not

An independent panel with no stake in the outcome read the engineering and the business case and ranked them against a large field. That is worth something, and it is the reason this result is published.

It is not technical validation. Recognition tells you that experienced people found the concept credible; it does not tell you that hardware performed at sea. The evidence for that — tank testing, rig testing, fourteen months of offshore operation at Svanholmen measured, and how closely measurement and model agree — is set out on Validation, and the two are deliberately kept apart.

What comes next

The original December 2024 post said NoviOcean was proceeding to the construction, deployment and testing of a full-scale 1 MW hybrid converter. Two things have been made explicit since, and they matter more than the headline:

• The 1 MW machine is the Alta Wave 1000H, a future specialised solution for very high-energy wave regions. NoviOcean’s current product, pilot and commercialisation pathway is the Medi Wave 850H, rated 850 kW — 300 kW wave, 350 kW wind, 200 kW solar. management estimate
• The sequence is dated. The NO3 triple-hybrid demonstrator is the current stage (2026, TRL 6–7). The full-scale Medi Wave pilot is the next major phase, planned for 2027–2028 at TRL 7–8. projected Nothing full-scale is in the water today.

Conversations about that pilot — with utilities, island operators, shipyards and investors — are open. Start one through Book a Meeting, or read the current position on Investor Relations.

Platform images on this page are for illustration only — the actual design is shared in closer dialogues.