Receives 2.5 million from the EU for sustainable production of drinking water
The Norwegian start-up company Ocean Oasis receives a grant of 2.5 million euros from the European Innovation Council (EIC) Accelerator to develop technology for sustainable production of drinking water for coastal areas.
Ocean Oasis has developed a revolutionary solution: a floating platform will use wave power to produce fresh water where it is located, and direct the water to land through a pipeline.
The jury from the prestigious EIC Accelerator scheme believes that Ocean Oasis' solution has the potential to revolutionize the desalination industry globally.
– Desalination of seawater needs to scale substantially in an increasingly water-stressed world. But it needs to do so without large emissions and without harming the local marine ecosystems, says CEO of Ocean Oasis Kristine Bangstad Fredriksen.
A global need for fresh water
Ocean Oasis' facility uses wave power as an energy source to desalinate seawater and thus avoids the use of polluting energy sources. In addition, negative local environmental impact will be minimized. More than 300 million people are already dependent on desalinated seawater today, and the trend is strongly increasing due to climate change, population growth and urbanization. Today's solutions are often very polluting.
In addition to the grant of 2.5 million euros, Ocean Oasis will also be able to include the EIC Fund (European Investment Bank) as an investor when the company is to be scaled up.
– The awarded grant is a great recognition for us and our mission. We hope that our solution can help ensure that in the future we will have enough clean water for the world’s population without high costs and large emissions, says Bangstad Fredriksen.
Among the company's investors today are Grieg Maritime Group through Grieg Edge, Johan Odvar Odfjell through Planet 9 Venture, Harald Norvik and the early phase VC accelerator Antler. Furthermore, the company became a member of GCE Ocean Technology in 2020.
Ocean Oasis is preparing full-scale testing of its facility for the first half of next year. General manager Kristine Bangstad Fredriksen says that the company will also raise more private capital during the coming year.
Kristine Bangstad Fredriksen
CEO, Ocean Oasis AS
+47 452 93 390
Ocean Oasis is a start-up company that develops an innovative solution for sustainable production of drinking water for coastal areas.
Their floating plants use wave power as an energy source to desalinate seawater and thus avoid the use of polluting energy sources.
In addition, negative local environmental impact will be minimized.
The technology was developed partly internally at DNV before the company Ocean Oasis AS was established in the spring of 2020.
The creator and technology manager is Thomas Berge Johannessen and the company is led by Kristine Bangstad Fredriksen.
The company has seven employees and is located at SEB ScaleCenter at Filipstad pier 1.
About EIC Accelerator
EIC Accelerator is available for innovative small and medium-sized companies with international ambitions and great potential for growth.
The scheme offers financing, coaching and accelerator services. The scheme consists of grants of up to 2.5 million euros, and the possibility of equity grants of up to 15 million euros.
The EIC Accelerator is operated by the European Innovation Council (EIC). The Council is part of the EU's Horizon Europe framework program.
There is strong competition for the funds offered by EIC, so to have a chance to succeed, it is required that the project has a high degree of innovation, a strong dedicated team and that the innovation helps to solve one or more of the UN's sustainability goals .
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