Norwegian company Ocean Oasis has secured new investments to develop their wave energy-driven desalination technology with no emissions at a competitive cost. This will enable them to test and scale offshore technology for supplying fresh water competitively to coastal communities worldwide. Ocean Oasis’ current activities are already supported by the European Union EIC Accelerator, with a €2.5 million grant awarded in 2022.
Kristine Bangstad Fredriksen, Ocean Oasis co-founder and CEO, shared her enthusiasm for the project: “We already see the effects of climate change on our access to freshwater. Desalination that uses wave energy brings a new dimension and additional opportunities to supply desalinated water without emissions.”
About Wave Energy Desalination Technology
Wave energy is a form of renewable energy which harnesses the power of ocean surface waves to generate electricity. Wave energy is considered a promising form of renewable energy due to its abundance and sustainability. Wave energy can be used in many different ways, including desalination.
Desalination is the process of removing salt from seawater to make it suitable for human consumption or agricultural use. This process has traditionally been powered by fossil fuels, but wave energy desalination offers an eco-friendly alternative. Wave energy desalination is able to provide clean drinking water without any emissions or land use costs.
Ocean Oasis Raises Funds from Investors
To further develop its wave energy-driven desalination technology, Ocean Oasis has secured funding from existing and new investors. The investors include Unconventional Ventures, Unruly Capital, Grieg Edge, Farvatn Venture and Antler. The amount raised has not been specified.
Scaling Up the Technology
Ocean Oasis’ technology is based on a floating platform which captures wave energy to drive pumps which then push sea water through a membrane filter system. This filter system separates the salt from the water, creating fresh drinking water. The process is highly efficient and requires no external power sources.
The technology has already been tested in Norway and Ocean Oasis plans to scale up their operations by installing more floating platforms off the coast of Norway and other parts of Europe. The company also has ambitions to expand their operations globally.