Ocean Harvesting Technologies
A novel wave energy converter with advanced force control technology to maximize energy yield and control buoy motion and loads.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
* | N/A | $500k | - |
| Total Funding | 000k | ||
| EUR | 2015 | 2016 | 2017 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| % growth | - | 32 % | 9 % |
| EBITDA | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Company filings or news article
Ocean Harvesting Technologies AB, based in Sweden, is a pioneering company focused on transforming ocean waves into clean, reliable, and cost-efficient electric energy. Founded in 2007, the company has dedicated itself to developing wave power technology, with a significant emphasis on research and development (R&D) to optimize energy production and control buoy motion and load cases.
The company's flagship product, InfinityWEC, is a 500 kW wave energy converter. This device uses advanced control technology to maximize energy output from each wave. One of the standout features of InfinityWEC is its use of low-cost, low-carbon, and circular materials, which not only reduce the cost of electricity but also minimize the carbon footprint. The company collaborates with industrial partners and participates in international joint industry projects to enhance its technology and market reach.
Ocean Harvesting Technologies operates in the renewable energy market, specifically focusing on offshore wave energy. Their clients include utility companies, governments, and organizations looking to invest in sustainable and renewable energy sources. The business model revolves around the development, deployment, and maintenance of wave energy converters. They generate revenue through the sale and installation of these converters, as well as through long-term maintenance contracts.
The company has also invested in energy storage solutions to ensure that the captured wave power is converted into a constant and predictable energy output. This makes their technology not only innovative but also practical for real-world applications.
In recent developments, Ocean Harvesting Technologies is part of the WECHULL project, which aims to develop new floating structures using high-performance concrete. This project, funded by a 2.5 million EUR grant from the EU Clean Energy Transition Partnership, seeks to reduce costs and CO2 footprints while improving the reliability and circularity of offshore renewable energy systems.
**Keywords:** Wave energy, Renewable energy, InfinityWEC, Clean energy, Offshore power, Sustainable technology, Energy storage, Low carbon, Circular materials, Advanced control technology.