Ocean Harvesting to raise 3 MEUR for sea trials with InfinityWEC wave energy converter
Karlskrona/Gothenburg, Sweden; 13 May, 2022 – To finance sea trials with wave energy converter InfinityWEC at scale 1:3, Ocean Harvesting is raising 3 MEUR in equity investment at a pre-money valuation of 7 MEUR. This investment will be combined with public financing for the project. The sea trials are planned to be completed by the end of 2024, after which commercialization of the technology will be initiated with sea trials of full-scale systems.[En bild som visar text Automatiskt genererad beskrivning] A transition to 100% renewable energy is necessary to mitigate climate change.