What Ocean Harvesting Technologies AB does

Ocean Harvesting Technologies AB is a Sweden-based, privately held developer of wave energy converter (WEC) technology, founded to commercialize its InfinityWEC platform. The core product is a 500 kW point-absorbing WEC composed of a high-performance concrete buoy built around a honeycomb structure with EPS cores, a power take-off (PTO) system using ball screw actuators with hydrostatic pre-tension, axial-flux motors with silicon carbide inverters, high-speed flywheel energy storage, and a moment-based Model Predictive Control (MPC) algorithm developed with academic partners. Six patent families protect the PTO, control system, buoy, and pre-tensioning innovations. The company targets utility-scale wave farms (star-shaped 6 MW clusters of 12 WEC units in 100 MW+ deployments) as the primary use case, with secondary segments including offshore oil and gas platform electrification, island communities, and green hydrogen or ammonia production.

Ocean Harvesting is pre-revenue and monetizes through future hardware sales of WEC systems and wave farm installations, supported by an enterprise field-sales model aimed at utilities, energy developers, and offshore industrial operators. The company currently sustains operations through a mix of equity rounds (Lundin Foundation and recurring seed issuances totaling roughly 5-6 MEUR cumulatively) and non-dilutive funding from the Swedish Energy Agency and the EU Clean Energy Transition Partnership, including the INFINITY and WECHULL+ projects with combined budgets of about 4.2 MEUR. Cost projections indicate a material cost of 0.65 MEUR per MW and an LCOE below 100 EUR/MWh at 100 MW deployment, positioning the technology as a potential complement to floating wind in coastal grids where wave resource exceeds 25 kW/m.

The organization is small (1-10 employees) with headquarters in Gothenburg and engineering operations in Karlskrona, Sweden, and is led by founder-CEO Mikael Sidenmark alongside COO Cody Bradway and an executive chairman with VC and CFO experience. Sea trials of a 1:3 scale InfinityWEC unit are planned for 2025-2026 off the west coast of Sweden, with full-scale trials and first array installations targeted thereafter.

Name

Ocean Harvesting Technologies AB

Legal name

Ocean Harvesting Technologies AB

Website

https://oceanharvesting.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Ocean Harvesting Technologies AB is a Sweden-based pre-revenue company developing the 500 kW InfinityWEC wave energy converter, using a concrete honeycomb buoy, ball-screw power take-off, and Model Predictive Control to target utility-scale wave farms and offshore industrial off-grid applications.

Ownership category

akta.pro rank

Product category

Marine Renewable Energy / Wave Energy Converter

SIC

Engines & Turbines (3510), Oil & Gas Field Machinery & Equipment (3533), Industrial Instruments For Measurement, Display, And Control (3823)

akta.pro primary industry

Wave Energy Converter (WEC) Power Generation (EUACAJAC)

Keywords

• Wave energy conversion
• Marine renewable energy
• Power take-off systems
• Ocean energy technology
• Concrete buoy structures

Headquarters

HQ city

Karlskrona

HQ country

Sweden

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales

Revenue model

1. Wave Energy Converter Sales: Ocean Harvesting Technologies is pre-revenue, developing its InfinityWEC wave energy converter technology. The company will eventually generate revenue through sale of wave energy converter systems and wave farm installations. Target markets include utility-scale wave farms and off-grid applications.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Ocean Harvesting Technologies develops and commercializes the InfinityWEC, a 500 kW point-absorbing wave energy converter that converts ocean wave motion into grid-stable electricity. The system combines a high-performance concrete honeycomb buoy, a power take-off (PTO) using ball screw actuators with hydrostatic pre-tension and moment-based Model Predictive Control, and integrated flywheel energy storage. Sales will consist of wave farm installations (star-shaped 6 MW clusters of 12 WEC units) targeted at utility-scale wave farms and off-grid applications including offshore oil and gas electrification, island power, and green hydrogen production.

Product overview

Ocean Harvesting Technologies AB offers the InfinityWEC wave energy converter system, a patented 500 kW point absorbing wave energy converter. The product ecosystem consists of the InfinityWEC core system (the wave energy converter itself), the Power Take-Off (PTO) sub-system with ball screw actuators and hydrostatic pre-tension, a Concrete Buoy made of high-performance concrete in a honeycomb structure, and the InfinityWEC Wave Farm platform for utility-scale deployments. These components work together to capture wave energy efficiently and convert it to grid-stable electricity using advanced Model Predictive Control algorithms.

Differentiator

Problem solved

Functional benefit

Products and services

• InfinityWEC Wave Energy Converter A 500 kW point-absorbing wave energy converter that converts ocean wave motion into grid-stable electricity for utility developers and offshore industrial operators. The system integrates a concrete honeycomb buoy, a ball-screw power take-off with hydrostatic pre-tension, axial-flux motors with silicon carbide inverters, and Model Predictive Control.
• InfinityWEC Generation 7 Latest generation of the InfinityWEC with PTO weight reduced from 40 to 30 tons, hydraulic cylinder slack-catch survival functionality, geared axial-flux motors with silicon carbide inverters, and integrated high-speed flywheel energy storage. PTO weight reduction and storage integration support an estimated AEP increase from 2.0 to 2.5 GWh per 500 kW unit. Sold as a component of the InfinityWEC wave energy converter system.
• InfinityWEC Wave Farm Multi-unit wave energy farm composed of star-shaped 6 MW clusters of 12 InfinityWEC units, with three cable hubs connecting on a string cable to a central substation. Designed for utility-scale deployments (for example 21 clusters / 126 MW) with electrical infrastructure similar to offshore wind farms.

Quantifiable outcome

• 4 GWh/MW Annual Energy Production
• +6 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature6 records

Partnerships

14 partnerships are on record, tiered core, minor and major.

• RISE Research Institutes of SwedencoreStrategic or Co-development Partner · 1 November 2024INFINITY Project coordinator. Developing lifetime-aware MPC algorithm and validating PTO integrity with sustainable high-performance concrete. Partner in WECHULL+ project. 3-year collaboration starting December 2024.
• Maynooth University (COER)coreStrategic or Co-development Partner · 1 November 2024Developing new high-fidelity simulation models and non-linear moment-based MPC algorithm for INFINITY project.
• Politecnico Di TorinocoreStrategic or Co-development Partner · 1 November 2024Developing new non-linear moment-based and lifetime-aware MPC algorithm for InfinityWEC in INFINITY project.
• NSK EuropecoreTechnology or Integration · 7 March 2024Ball screw manufacturer partner for PTO development. NSK has established longstanding partnership with Ocean Harvesting, developing ball screw actuation system with 25-year lifetime for InfinityWEC generation 6. Featured at Tokyo Motor Show 2019.
• Delft University of TechnologyminorStrategic or Co-development Partner · 19 December 2023Consortium partner in WECHULL+ project for development of floating concrete structures.
• Carnegie Clean EnergyminorStrategic or Co-development Partner · 19 December 2023Consortium partner in WECHULL+ project for development of floating concrete structures.
• Gdansk University of TechnologyminorStrategic or Co-development Partner · 19 December 2023Consortium partner in WECHULL+ project for development of floating concrete structures.
• SolarDuckminorStrategic or Co-development Partner · 19 December 2023Consortium partner in WECHULL+ project. Testing honeycomb design for floating structures in sea trials.
• PLOCANminorStrategic or Co-development Partner · 19 December 2023Consortium partner in WECHULL+ project for development of floating concrete structures.
• PekabexminorStrategic or Co-development Partner · 19 December 2023Consortium partner in WECHULL+ project for development of floating concrete structures.
• Lundin Energy NorwaymajorStrategic or Co-development Partner · 28 April 2021Collaboration on R&D study for wave power electrification of offshore oil & gas platform. One-year project to develop specification and system design for wave power installation. Case study completed September 2022 showing wave power highly competitive with offshore wind.
• GCE Ocean EnergyminorChannel Partner/ Reseller/ Distributor · 2 March 2020Member of Norwegian government-supported innovation cluster for ocean energy. Part of GCE-programme administered through Innovation Norway, SIVA, and Norwegian Research Council.
• Sigma Energy & MarinecoreStrategic or Co-development PartnerMarine engineering specialist collaborating on system design since 2017. Key supplier for sea trial project with expertise in simulation model development and control systems.
• VGA (Validazione Gestione Ambientale)coreTechnology or IntegrationHosting Hardware-in-the-Loop (HIL) test rig in Italy for INFINITY project PTO testing with real-time MPC performance demonstration.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/ocean-harvesting

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ocean Harvesting Technologies AB