Ocean Harvesting Technologies Secures 10 MSEK Funding for InfinityWEC Wave Energy Development
Ocean Harvesting Technologies AB has secured 10 million SEK in funding to advance the development and prototype testing of its InfinityWEC wave energy converter, as part of two EU-funded projects. The investment will support personnel, engineering, and equipment needed to validate the technology's performance and commercial viability, targeting applications in large-scale wave energy parks and other energy needs. The projects aim to enhance technology validation and facilitate commercialization with minimal capital requirements.
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Ocean Harvesting Technologies AB is conducting a new share issue of 10 million SEK for the period 2026-2027 to fund the development and prototype testing of the InfinityWEC wave energy converter as part of two ongoing EU-funded projects. The investment will primarily support personnel, external engineering, prototype equipment, and intellectual property.
The company aims to validate the performance and commercial potential of InfinityWEC, focusing on system development, drivetrain and buoy prototype testing, preparations for sea trials, and business development. The projects INFINITY and WECHULL+ are expected to enhance the technology's validation and pave the way for commercialization with limited capital needs. InfinityWEC targets markets including large-scale wave energy parks, power supply for island communities, oil and gas platforms, data centers, and green hydrogen production.
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