Ocean Oasis secures new investment to scale wave powered desalination pilot backed by EIC support
- ›Norwegian start up Ocean Oasis closed a new funding round led by Unconventional Ventures with Unruly Capital joining and existing investors increasing their commitments.
- ›The funding will accelerate development and testing of a wave powered desalination buoy deployed at the PLOCAN offshore test site in the Canary Islands.
- ›Ocean Oasis says its buoys produce 500 to 2000 cubic meters of freshwater per day per unit, need no external power and eliminate direct CO2 emissions, claims that require independent verification.
- ›The company has previously received EIC Accelerator support for its ReWater project and has secured more than 10 million euros in grants to date.
- ›Key commercial and environmental risks remain including variable wave resource, offshore operations costs, regulatory permitting and evidence on brine dispersion impacts.
Ocean Oasis secures new investment to scale wave powered desalination pilot
Ocean Oasis, a Norwegian technology company developing offshore, wave powered desalination buoys, has completed a fresh funding round led by Unconventional Ventures. The round brought in Unruly Capital and saw increased participation from earlier backers including Grieg Edge, Farvatn Venture and Antler. Several angel investors also participated. The company says the new capital will support further development and testing of its ReWater wave driven desalination technology while strengthening ties with potential customers in island markets.
Who invested and what they said
Unconventional Ventures led the round. Unruly Capital, a recently launched fund, joined the investor group. Existing strategic investors Grieg Edge, Farvatn Venture and Antler increased their commitment and a number of angels followed up. Ocean Oasis chief executive Kristine B. Fredriksen framed the investment as critical to move technology maturation and testing forward. She said the company currently has a demonstration project at the PLOCAN offshore test site in the Canary Islands and that the funding will keep the project at full speed while deepening commercial engagement with island utilities.
| Investor | Type | Role in round or note |
| Unconventional Ventures | Nordics impact technology fund | Lead investor |
| Unruly Capital | Newly launched European fund | New investor |
| Grieg Edge | Strategic maritime/energy investor | Existing investor increased commitment |
| Farvatn Venture | Venture investor | Existing investor increased commitment |
| Antler | Global early stage investor | Existing investor increased commitment |
| Various angel investors | Individual backers | Follow on participation |
What the technology claims to do
Ocean Oasis has developed an offshore desalination buoy that uses wave energy as its sole energy source. The company says the buoys can be installed between one and five kilometres from shore. Desalinated water is sent to shore through seabed pipelines. The design is positioned as modular and scalable so multiple buoys can be operated as a water production farm. Ocean Oasis reports that a single buoy will produce between 500 and 2000 cubic metres of fresh water per day depending on local wave conditions.
The company also states that its buoys dispose of brine near the surface in deep water to avoid coastal impacts. The environmental acceptability of offshore brine discharge depends on local oceanography, dilution rates and ecological sensitivity. Independent environmental assessment is required to confirm low impact claims in any specific deployment.
Pilot deployment and market focus
Ocean Oasis has tested a full scale pilot buoy called Gaia in Gran Canaria. The pilot operates at the PLOCAN offshore test site in the Canary Islands. The company identifies island and coastal markets with limited infrastructure and strong wave resources as its primary addressable markets. Ocean Oasis says the Canary Islands represent a strategic beachhead and quotes a regional desalination capacity of 180 million cubic metres per year. The firm also lists potential cost targets of below one euro per cubic metre in the Canary Islands and around 0.5 euros per cubic metre in markets with stronger wave resources such as parts of South Africa or Australia.
| Milestone | Date or status | Notes |
| Concept development and model testing | 2008 to 2019 | Early development and small scale tests |
| Pilot design and dry testing in Norway | 2020 | Workshop based tests |
| Ocean Oasis Canarias SL incorporation and local operations | 2021 | Offices and workshop in Las Palmas |
| Second model test campaign | 2023 | Model testing continued |
| Full scale piloting in Gran Canaria | 2023 to 2025 | Successful full scale pilot reported |
| Grants and public funding secured | Total over 10 million euros | Includes European Innovation Council Accelerator support for ReWater |
Funding and EU innovation support
Beyond the EIC, the broader EU innovation ecosystem offers research partnerships, regional funds and procurement avenues that can be important for capital intensive marine infrastructure projects. Strategic investors such as Grieg Edge bring sector knowledge on maritime operations and energy that can help industrialise prototypes.
Critical questions and risks to watch
Ocean Oasis presents an attractive proposition for islands and remote coastal communities that need desalinated water while avoiding grid dependencies. However several factors temper headline claims and will determine real world viability.
Regulatory and permitting complexity is another barrier. Offshore installations need consents from maritime authorities, environmental agencies and potentially spatial planning bodies. Natura 2000 and other protected area rules can be restrictive in EU waters. Success will require careful stakeholder engagement and robust environmental monitoring plans.
What to watch next
Key indicators of progress will include transparent performance data from the PLOCAN pilot over multiple seasons, verified environmental impact assessments, signed offtake agreements with utilities beyond initial letters of interest and clear unit cost break downs. Further institutional endorsements from utilities and regulators would de risk the technology for larger scaled deployments.
For now Ocean Oasis looks like a promising entrant in an expanding desalination market and an example of how EU innovation funding can support risky offshore prototypes. The company faces the harder tests of long term operational reliability, permit and stakeholder acceptance and demonstration of competitive lifetime costs under real world conditions.
Disclaimer. The information reported here draws on company statements and public materials. Independent verification of technical performance and environmental impacts is required to substantiate several of the claims made by Ocean Oasis. The original press material notes that it should not be interpreted as the official view of the European Commission.