Floating Power Plant

What Floating Power Plant does

Floating Power Plant A/S (FPP) is a Danish cleantech company founded in 2005 and headquartered in Bandholm, Denmark, that designs and supplies a patented T-shaped semi-submersible floating platform integrating offshore wind turbines (15 MW+ class), hydrogen-based long-duration storage (up to 300 MWh), battery systems, and optional wave energy converters, governed by an Energy Management System that delivers dispatchable green power to off-grid loads. Its flagship demonstrator, the P-Demo platform, combines a 4.3 MW wind turbine, 0.8 MW wave energy converter, 1 MW electrolyzer, up to 300 MWh of hydrogen storage, and a 1.2 MW fuel cell, with financial close targeted for Q1 2027 and installation at PLOCAN's Gran Canaria test site in 2028; the platform is projected to deliver 11 GWh/year and abate ~25,557 tonnes of CO2e over 10 years.

FPP generates revenue through an asset-light integrator model spanning platform hardware sales (patented platform + integrated subsystems), engineering and project development services, ongoing operations and maintenance, and technology licensing/integration. Pricing is project-based and not publicly disclosed; the company deliberately targets high-value off-grid markets — islands, data centers, offshore oil & gas assets, and carbon capture & storage facilities — that do not require subsidies or tariffs to be economic. Concept studies and decarbonization analyses are already underway with TotalEnergies (Harald platform), Lundin Energy, an unnamed North Sea O&G operator (alongside TechnipFMC), and Ørsted (grid-connection testing), supported by an end-user advisory board that includes Air Liquide, Aker BP, Repsol, Capital Energy, ESB Energy, and Island Innovation.

The company maintains four offices (Bandholm, Copenhagen, Crieff UK, Las Palmas de Gran Canaria) and operates subsidiaries FPP Ltd (UK) and FPP Canarias SLU (Spain). Cumulative funding exceeds €25M, including €15M+ from 240+ private shareholders, with non-dilutive capital including €26M from the EU Innovation Fund (SEAWORTHY), an EUDP-backed wave PTO project (17.8M DKK), and an ICEX Invest in Spain grant via FPP Canarias. Tier-1 partnerships with Siemens Gamesa, Vestas, DNV GL, Siemens Energy, TechnipFMC, and PLOCAN provide manufacturing, certification, and test-site validation critical to commercialization. Headcount is 11-50 and revenue is not publicly disclosed, consistent with a pre-commercial TRL 6 demonstrator phase.

Name

Floating Power Plant

Legal name

Floating Power Plant A/S

Website

https://floatingpowerplant.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

Floating Power Plant is a Danish cleantech company that designs and supplies a patented T-shaped semi-submersible floating platform integrating offshore wind turbines, hydrogen-based long-duration storage (up to 300 MWh), batteries, and optional wave energy converters to deliver dispatchable off-grid green power for islands, data centers, offshore oil & gas assets, and carbon capture & storage operators.

Ownership category

akta.pro rank

Product category

Floating Offshore Wind Energy Systems

NAICS

Turbine and Turbine Generator Set Units Manufacturing (333611), Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111)

SIC

Engines & Turbines (3510), Motors & Generators (3621), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Offshore Wind Power Generation (Floating) (EUACAFAC)

akta.pro secondary industries

Wind Turbine OEMs & System Integration (Nacelle/Generator/Controls) (EUAMACAC), Hybrid Wind Power Plants (Wind+Solar+Storage Co-located) (EUACAFAH), Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF), Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro) (EUACALAJ), Utility-Scale Power Generation Asset Management (EUAEAMAA)

Keywords

• Floating offshore wind
• Wave energy conversion
• Hydrogen energy storage
• Dispatchable renewable energy
• Floating platform integration

Headquarters

HQ city

Bandholm

HQ country

Denmark

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Floating Platform Hardware Sales: Sale of patented floating energy platforms integrating wind turbines (15 MW+), hydrogen storage, and optional wave/battery systems. Built using shipbuilding-based production methods for cost efficiency.
2. Engineering and Project Development Services: Technology development, platform design, engineering consulting, and project development services for offshore renewable energy projects.
3. Platform Operations and Maintenance: Ongoing operational support for deployed floating power platforms including monitoring and management services.
4. Licensing and Integration Services: Asset-light integrator business model providing technology licensing and integration services for clients requiring floating renewable energy solutions.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Floating Power Plant designs, develops, and provides a patented T-shaped semi-submersible floating platform that integrates offshore wind turbine generators (15 MW+), on-board hydrogen-based energy storage (up to 300 MWh), battery systems, and optional Wave Energy Converters. The company's Energy Management System delivers dispatchable green energy for off-grid markets including islands, data centers, offshore oil & gas platforms, and carbon capture & storage sites, sold as bespoke engineered projects to enterprise customers.

Product overview

Floating Power Plant (FPP) is a clean-tech company that designs and provides a patented, modular floating platform system for offshore wind energy with integrated hydrogen-based energy storage. The core offering is the FPP Platform — a T-shaped semi-submersible floating structure hosting a wind turbine (15 MW+) alongside optional hydrogen systems, battery storage, and wave energy converters. The flagship demonstrator is the P-Demo Platform, combining a 4.3 MW wind turbine, 0.8 MW wave energy converter, a 1 MW electrolyser with up to 300 MWh hydrogen storage, and a 1.2 MW fuel cell. The modular architecture enables customisation per site: the hydrogen system provides long-duration storage for dispatchable power, the battery system offers fast short-duration response, and WECs add complementary wave generation. An Energy Management System orchestrates all subsystems. FPP operates as an integrator, sourcing wind turbines from tier-1 manufacturers (Siemens Gamesa, Vestas) and leveraging shipbuilding-based construction for cost-effective, locally adaptable platforms targeting islands, data centres, offshore energy assets, and carbon capture & storage markets.

Differentiator

Problem solved

Functional benefit

Products and services

• FPP Platform (T-Shaped Semi-Submersible Floating Platform) The foundational hardware for all Floating Power Plant power plants: a patented T-shaped semi-submersible floating platform built from cost-effective panel sections (sheet steel and stiffeners) using shipbuilding methods. It accommodates wind turbines (15 MW+), hydrogen systems, battery storage, and optional Wave Energy Converters in a large protected indoor space, and is designed to reduce cost and supply-chain bottlenecks while supporting local content.
• P-Demo Platform FPP's first commercial-scale floating renewable energy platform, integrating a wind turbine generator, Wave Energy Converter, hydrogen system, and battery on the T-shaped semi-submersible platform. Designed as a flexible technology demonstrator that delivers dispatchable green energy on demand for islands, data centres, offshore oil & gas assets, and carbon capture & storage markets.
• Floating Renewable Energy Platform Sales & Integration Sale of Floating Power Plant's patented floating platforms integrating wind turbines (15 MW+), hydrogen storage, batteries, and optional Wave Energy Converters, with delivery as bespoke engineered projects to enterprise customers in off-grid markets (islands, data centers, offshore oil & gas, CCS). Built using shipbuilding-based production methods for cost efficiency and local content.
• Engineering and Project Development Services Technology development, platform design, engineering consulting, and project development services delivered to offshore renewable energy customers, including feasibility and concept studies with partners such as TechnipFMC for offshore oil & gas operators (e.g., TotalEnergies Harald, Lundin, and a North Sea client producing 80% annual energy coverage and 60%+ CO2 reduction).
• Platform Operations and Maintenance Services Ongoing operational support, monitoring, and management services for deployed Floating Power Plant platforms, covering wind, hydrogen, battery, and optional wave subsystems, provided as managed services to enterprise customers.
• Floating Renewable Energy Technology Licensing and Integration Asset-light integrator business model in which Floating Power Plant licenses its patented platform technology and provides integration services to clients requiring floating renewable energy solutions, complementing direct platform sales.

Quantifiable outcome

• 80% of platform annual energy demand coverage
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

18 partnerships are on record, tiered key, core and minor.

• DTU (Technical University of Denmark)keyStrategic or Co-development PartnerAcademic partnership for technology development and research collaboration in floating renewable energy systems.
• Aalborg UniversitykeyStrategic or Co-development PartnerResearch partner in EUDP-funded wave energy PTO project, contributing to full-scale wave energy converter development and testing.
• TechnipFMCkeyStrategic or Co-development PartnerCompleted concept studies for offshore O&G platform renewable power supply with hydrogen-based energy storage. Collaborated on North Sea client projects and TotalEnergies Harald platform decarbonization.
• Siemens GamesakeyTechnology or IntegrationWind turbine supplier for P-Demo platform. Tier-1 wind turbine manufacturer partner for platform integration.
• VestaskeyTechnology or IntegrationTier-1 wind turbine manufacturer partnership for platform integration.
• DNV GLcoreTechnology or IntegrationClassification and technical assurance partner for floating offshore technology validation.
• PrincipiacoreTechnology or IntegrationTechnical consulting partner for offshore engineering and platform analysis.
• Seasystems AScoreStrategic or Co-development PartnerPartner in EUDP wave energy PTO project, contributing to full-scale wave power test setup development.
• Siemens EnergykeyTechnology or IntegrationEnergy technology partner for hydrogen and power systems integration.
• Hawe Energy Solutions A/ScoreStrategic or Co-development PartnerPartner in EUDP wave energy PTO project for full-scale PTO system development.
• PLOCANkeyStrategic or Co-development PartnerTest site provider for P-Demo platform deployment at PLOCAN's test site in Gran Canaria, Spain.
• Air LiquideminorStrategic or Co-development PartnerMember of P-Demo end-user advisory board for technology validation.
• Aker BPminorStrategic or Co-development PartnerMember of P-Demo end-user advisory board representing oil and gas major perspective.
• RepsolminorStrategic or Co-development PartnerMember of P-Demo end-user advisory board for technology validation.
• Capital EnergyminorStrategic or Co-development PartnerMember of P-Demo end-user advisory board representing utility/developer perspective.
• ESB EnergyminorStrategic or Co-development PartnerMember of P-Demo end-user advisory board representing utility perspective.
• Island InnovationminorStrategic or Co-development PartnerMember of P-Demo end-user advisory board representing island energy perspective.
• ØrstedkeyStrategic or Co-development PartnerGrid connection verification conducted through Ørsted's offshore wind farms for technology validation under real operating conditions.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Equinor (Hywind): Equinor pioneered floating offshore wind with Hywind Scotland and Hywind Tampen and operates the only utility-scale floating wind farm supplying real O&G platforms. As an integrated energy major, it can offer bundled floating-wind-plus-storage solutions that compete directly with FPP's integrated platform.
• Aker Solutions (with Aker BP): Aker Solutions, alongside sister company Aker BP, is developing concrete-based floating wind substructures and operates in adjacent offshore engineering. As a much larger and better-capitalized incumbent with deep offshore-O&G relationships, it represents a credible threat in FPP's target verticals including offshore platform decarbonization.
• SBM Offshore: SBM Offshore designs and leases floating production systems for the offshore energy industry and is extending into floating offshore wind via its FLOAT4WARD-type initiatives. Its offshore floating-systems expertise, scale, and offshore-O&G customer base overlap heavily with FPP's target verticals.
• Iberdrola (through Vibrock / offshore wind): Iberdrola is one of the world's largest offshore wind developers with both fixed and floating project pipelines. As a vertically integrated utility with deep balance sheet, it can credibly target the same off-grid island decarbonization and offshore O&G segments that FPP serves.
• Saipem (Hexicon legacy): Saipem, with its roots in the Hexicon twin-rotor floating wind concept and broader offshore engineering and installation services, is a large-scale competitor pursuing floating wind for industrial and utility buyers in Mediterranean and other offshore markets.

Direct peers

• Principle Power: Principle Power develops the WindFloat semi-submersible floating offshore wind platform and is the most direct technical competitor to FPP, competing for the same floating-wind supply chain, customers, and project pipeline. Like FPP, it targets industrial and utility off-takers and is at a similar commercial-readiness stage.
• BW Ideol: BW Ideol designs and licenses floating foundations for offshore wind (barge-based and damping-pool concepts) and pursues a similar technology-licensing and integration business model. It competes head-to-head with FPP for floating-wind project pipelines in Europe and Asia-Pacific.
• Wello Oy: Wello develops the Penguin wave energy converter and has explored co-location with floating wind, making it one of the few companies pursuing an integrated wind-plus-wave energy model similar to FPP's T-shaped platform with optional WECs.

Emerging players

• CorPower Ocean: CorPower Ocean is a Swedish wave-energy company developing point-absorber WECs with a similar technology-maturity profile to FPP. Both target integration into offshore platforms and compete for the same wave-energy engineering talent and project sites in Northern Europe.
• Stiesdal (TetraSpar / Offshore Wind): Stiesdal developed the TetraSpar floating wind demonstrator and is a Danish-based floating-wind competitor with strong links to Siemens Gamesa and DTU. It competes with FPP for the same Northern European demonstration projects and engineering talent.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCEkztADLBhNq948KddCUS2w
• LinkedInlinkedin.com/company/floating-power-plant-a-s

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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 Floating Power Plant