NoviOcean's Strategy for Cost-Competitive Wave Energy

650 kW Wave, 300 kW Wind, 50 kW Solar.

(40% Capacity Factor | 3.5 GWh /unit/year)

Bridge to Commercial Viability after first Pilot

1- Competitive Development:

New Technology starting at higher Costs (CAPEX AND OPEX).

*NoviOcean on par with Offshore Floating Wind at 0.1 MW (about 100 units) Deployed.
Colocation plus solo arrays where wind power is not desirable will be the initial market. But, due to less than half the weight, NoviOcean is de facto set to go below Offshore Floating Wind in costs per MWh, plus providing a more stable and valuable energy delivery, opening a giant market now dominated by offshore wind.

2- Significant Incentive Programs

*Current CFD Price in UK : 410 EUR/MWh. We are starting at less than 250 EUR/MWh.

*Various Feed In Tariffs, Green Certificates and Auctions in e.g. Ireland, France, Spain, Canada, Taiwan, Japan and USA.

*In addition, CAPEX Support Programs through Innovation Fund, EIB, and Invest EU. Funding up to EUR 75 million as 60% of project cost
Swedish Export Credit Corporation issues bank guarantees for up to 90% of buyers financing needs
Swedish Export Credit Corporation issues bank guarantees for up to 85% of our working capital financing needs.

3- Profits

*This and others will bridge the journey from start to non-subsidised production.

*Will as well create large profits even during this phase, simply because the incentives are higher than our costs

Revolutionize offshore energy with our 1 MW Hybrid Converter!

• Doubles wind farm output & stabilizes energy supply.

• Invest in a scalable & cost-effective renewable solution.

• Enjoy production priority, discounts & marketing advantages as a partner.

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F.A.Q.

NoviOcean’s innovative Hybrid Energy Converter (NHEC) harnesses the combined power of wave, wind, and solar energy. This groundbreaking technology delivers efficient and cost-effective renewable energy, paving the way for a sustainable future.

NoviOcean HEC delivers double the power output per sea area compared to wind power. Its hybrid design (wave, wind, solar) and efficient use of infrastructure lead to a lower Levelized Cost of Energy (LCOE) in early evolution.

Noviocean HEC is easy to produce, install, and maintain due to its modular design and well-proven parts. It boasts a low environmental footprint and superior power-to-weight ratio compared to offshore wind.

NoviOcean offers competitive development costs, with LCOE reaching €100/MWh after only 100 units deployed, then lower. Investment benefits include attractive incentive programs, expected high profits, participation in a meaningful and scaleable clean energy solution, and not the least, extremely positive marketing effects for partners and users.

NoviOcean is in Stage 4 (TRL 7), developing a 1:1 scale pilot to demonstrate real-world performance and pave the way for commercial deployment.

NoviOcean aims to deliver stable ocean energy at a lower cost than offshore wind and secure 0.5 GW of contracted capacity by 2030.

NoviOcean envisions having 10 GW deployed by 2050, capturing 25% of the EU's 2050 target and generating €30 billion in sales within Europe alone. The global market potential is three times larger.