NovOcean Alta Wave 1000H
650 kW Wave, 300 kW Wind, 50 kW Solar.

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

NovOcean Medi Wave 800H
300 kW Wave, 350 kW Wind, 225 kW Solar.

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

Global energy market is positioned for a monumental shift
The technology has matured
Rising advancements of Ocean Energy Converter Technology
Resulting in more efficient & reliable systems
Increasing initiatives for cost reduction in technology
Markets are demanding
Global ocean market is soaring at a whopping 35.4% CAGR
Established & robust renewable market
Soaring need for solutions to mitigate the variable nature of solar & wind energy
Governments are pushing
EU targets to cut greenhouse gas emissions by 90% by 2040
Incentives and support mechanisms from EU Green Deal, the Inflation Reduction Act (IRA), and more
UK’s initiatives for expansion of clean energy. Support in the form of grants and CFD’s paying eq. of EUR 370/MWH
Wave Energy Potential
Global wave energy potential
29 500 TWh/year
Source: IPCC & IRENA
Global electricity production
28 400 TWh/year
Source: Enerdata
Ocean Energy Market Growth

Ocean energy market grow to €53bn per year by 2050

Total Addressable Market
2030
50 GW : €150 Billion
Contracted by 2030
2050
350 GW : €1,225 Billion
Deployed Ocean Energy by 2050 (Global IRENA International Renewable Energy Agency)
40 GW : €140 Billion
Deployed By 2050 in Europe
Target by European Commission FESS
Serviceable Addressable Market
2030
20 GW : €60 Billion
Contracted by 2030
2050
250 GW : €875 Billion
World Wide 2050
Serviceable Obtainable Market
2030
500 MW : €1.5 Billion
Contracted by 2030
2050
40 GW : €120 Billion
Deployed By 2050
25% of European Market 10% of Outside Europe
The oceans are the world's largest untapped source of renewable energy.
(Ocean Energy Europe)
Between now and 2050, we will transition from 20% economy-wide electrification to 70%.” “For investors this represents one of the greatest opportunities in the history of capitalism.”
The Swiss bank Lombard Odier ​
“The next 1,000 unicorns won't be search engines or social media companies, they'll be sustainable, scalable innovators – startups that help the world decarbonize and make the energy transition affordable for all consumers.”
Larry Fink, BlackRock CEO
Mitigation of Intermittency
Current and Planned Mitigation Practice are not Climate nor Investment Friendly
Energy Price Inverted to Energy Supplied (by Wind and Solar)
Wind Production
Spot Price Electricity
When Wind and Solar are at High Supply Energy Spot Price are Low – and vice versa
Fossil Fuel Energy Plants
Energy-related CO2 emissions grew to 34.4 Gigaton in 2023. 40% of the time, wind and solar deliver insufficient power due to weather, requiring fossil-fuel generators to fill the gap. To reduce this trend at the needed magnitude, the largest untapped energy source on the planet is highly needed. It is called Ocean Energy
Battery Energy Storage System (BESS)
At 80% Wind and Solar, the cost would be 9x higher than today, at 45 cents/kWh. Utility Scale Battery Storage is projected to cost $2.5 trillion, only for California. The consequence: The energy Transition will not be possible at scale. NoviOcean is one of the very few solution with the needed numbers to solve this.
“Without a major acceleration in clean energy innovation, net-zero emission targets will not be achievable.”
IEA, 2020
Problem
Global climate crisis & dependency on fossils
High intermittency of solar & wind
Expensive & unsustainable batteries
High cost & low output of previous wave power
Wave energy Solo Impacts & Essentia
Wave energy Solo Impacts & Essentia
Solar & Waves are complimentary

Annual variation of wave energy

Annual variation of solar energy

Annual variation of wave energy

Annual variation of solar energy

Cost reduction potential through scaling

Cost optimization plays a vital role in the deployment of the NOMW800H system. The following table illustrates the projected cost reductions based on mass production and economies of scale:

Deployment Phase CAPEX
(€/unit)		 OPEX
(% of CAPEX)		 LCOE
(€/unit)
Initial Deployment 1 500 000 3% 55
Proven Case 1 250 000 3% 35
Well-Established 1 000 000 2.5% 25
  • The Initial Deployment costs, and next phases, can be up to 30% lower in regions with lower labor costs
  • All numbers exclude NoviOcean profit margins and infrastructure
  • CAPEX matches onshore wind from start. Higher production / Capacity Factor at sea means higher profits. Less storage needed

Renewable energy deployment scales, costs, storage needs & spot price benefits

Technology Deployment scale
(MW/GW)		 LCOE
(€/MWh)		 LCOE after global
deployment scale		 LCOE after 300MW
deployment
(NO-MW800H)		 Storage requirement
(€/MWh)		 Spot market price
benefit (%)
NO-MW800H
(Wave-Wind-Solar)		 10 MW 55 55 30 Low
(‹5 €/MWh)		 15%
Offshore Wind (Fixed) 63 GW 80 80 80 Moderate
(15-30 €/MWh)		 0%
Offshore Wind (Floating) 27 MW 100 100 100 Moderate
(15-30 €/MWh)		 0%
Onshore Wind 837 GW 40-60 40-60 40-60 Moderate to high
(20-40 €/MWh)		 0%
Floating Solar PV 1.1 GW 60 60 60 High
(30-50 €/MWh)		 0%
Onshore Solar PV 1 800 GW 45 45 45 High
(30-50 €/MWh)		 0%
Fossil Fuels (Coal, Gas, Oil) 4.57 TW 50-500 50-500 50-500 Low
(‹5 €/MWh)		 15-20%

*** All numbers exclude infrastructure cost and NoviOcean profit margins

The remarkable insights and calculations in this table, along with detailed explanations, can be found in our report:
Performance, Investment, Component, Weight, Cost and LCOE Calculations for NoviOcean Medi Wave 800, NOMW800H – Summary Report

Particulars 🌿 Wind & Solar Solely 🌊 Ocean Energy / NoviOcean
Source Availability 40% of the time LITTLE wind & NO sun Wave energy fills the 40% gap and complements wind & solar
Forecast & Predictability Only 5-7 hrs ahead 48-72 hrs ahead
Fluctuation of Prices High fluctuation (€10-200/MWh) Wave energy fills the 40% gap, achieving the highest wholesale price
Capex / LCOE Wind and Solar started at 6-800 EUR/MWh NoviOcean starts from 90 EUR/MWh, with infrastructure, for single units, significantly lower than present offshore wind, same array size
Cost Efficiency €180/MWh currently (Floating offshore wind + Battery Storage) Our target is to be €40-50/MWh before 100 units deployed
Environmental Impact High reliance on batteries/fossil fuels for 40% of the time Reduces emissions by 99%, up to 7000 tons/unit/year

✅ Fixing the wind and solar gap means less reliance on fossil fuels and battery storage

💰 Capturing high prices increases the profitability of NoviOcean

NoviOcean: Resilient, Efficient Wave WIND & SOLAR Energies

NoviOcean’s patented innovations and efficient components create a resilient, high-power-density Ocean Energy Converter. With streamlined processes for manufacturing, installation, and maintenance, NoviOcean offers lower costs and competitive LCOE values, challenging existing ocean energy solutions and fossil fuels.

Get In Touch with Us!

Office Email

info@noviocean.energy
jan.skjoldhammer@noviocean.energy

Office Phone

+46(0)73 394 84 17

Office Location

Novige AB Lövängsvägen 91, 187 30 Täby, Stockholm Sweden

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