What Havkraft does

Havkraft AS is a Norwegian wave energy technology developer founded in 2009 and headquartered in Stavanger, with engineering operations in Nordfjordeid. The company is developing the H-WEC (Havkraft Wave Energy Converter), based on Oscillating Water Column (OWC) technology, in which ocean wave motion creates water pistons that drive turbines and generators. The architecture is modular and floating, has no moving parts underwater, and is designed to be towed, reused, or redeployed, with 200–500 kW per unit. The technology is protected by 56+ patents granted across 18 countries (e.g., US 8970056 B2, EP 2585711 B1).

Havkraft positions the same H-WEC platform across four vertical-specific product variants: PetroPower (floating wave power for small oil & gas discoveries), RigPower (wave power mounted on semi-submersible rig columns, co-developed with Equinor and GVA), AquaPower (offshore aquaculture power replacement), and PowerBooster (hybrid wave-and-wind integration between offshore wind turbines). Target customers are offshore oil & gas operators, aquaculture companies moving further offshore, and offshore wind developers.

The company is pre-commercial with no disclosed revenue. Its stated path to market runs through DNV certification, with TRL6 qualification planned for 2026/2027 and a full-scale 1:1 TRL7 test in 2027/2028, targeting first commercial unit sales by 2029. Revenue is intended to come from quote-based hardware sales of WEC units and arrays. Go-to-market is enterprise sales-led with strategic co-development partnerships (Equinor, GVA, SKL, Innovation Norway), supported by content marketing and direct engagement on the company website.

Name

Havkraft

Legal name

Havkraft AS

Website

https://havkraft.no

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

Havkraft AS is a Norwegian pre-commercial developer of modular floating wave energy converters (H-WEC, OWC-based) targeting offshore oil & gas, aquaculture, and offshore wind operators, with first commercial units planned for 2029.

Ownership category

akta.pro rank

Product category

Wave Energy / Marine Renewable Energy Hardware

NAICS

Turbine and Turbine Generator Set Units Manufacturing (333611)

SIC

Engines & Turbines (3510)

akta.pro primary industry

Wave Energy Converter (WEC) Power Generation (EUACAJAC)

Keywords

• Wave energy converters
• Offshore renewable energy
• Oscillating water column
• Marine energy systems
• Floating power generation

Headquarters

HQ city

Raudeberg

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Wave Energy Converter hardware sales: Pre-commercial stage. The company is developing and qualifying H-WEC technology for market launch targeting 2029 for first commercial unit. Revenue will come from sale of wave energy converter units and systems to oil & gas operators, aquaculture facilities, and offshore wind farms.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Havkraft designs, develops, and qualifies the H-WEC (Wave Energy Converter), a modular floating energy platform based on Oscillating Water Column (OWC) technology that converts ocean wave motion into electricity via water-piston-driven turbines and generators. The company markets four variants—PetroPower (oil & gas), RigPower (offshore rigs), AquaPower (aquaculture), and PowerBooster (offshore wind)—each adapted to a specific offshore use case. The company is pre-commercial, with target first commercial unit in 2029.

Product overview

Havkraft offers a portfolio of wave energy solutions based on its core H-WEC (Wave Energy Converter) technology platform. The H-WEC uses Oscillating Water Column (OWC) technology to convert ocean wave motion into electrical power. The portfolio includes four market-specific product variants: PetroPower (floating wave power for offshore oil and gas discoveries), RigPower (wave power mounted on offshore rig columns), AquaPower (wave power for aquaculture facilities), and PowerBooster (hybrid wave-and-wind integration for offshore wind farms). All products share the same underlying H-WEC technology but are tailored to different market segments with varying power requirements and deployment configurations.

Differentiator

Problem solved

Functional benefit

Brands

• PetroPower: Floating, reusable wave power plant that supplies clean energy and communication offshore, reducing CAPEX and emissions for small discoveries.
• Havkraft RigPower
• Havkrafts Aqua Power
• Havkrafts Power Booster

Products and services

• H-WEC (Havkraft Wave Energy Converter) Norwegian-developed modular wave energy converter based on Oscillating Water Column (OWC) technology. Wave motion drives water pistons that produce pulsating pressure to run turbines and generators, with installed capacity of 200-500 kW per unit and modular scaling via additional chambers. Floating, mobile design with no moving parts underwater for low OPEX and long lifetime.
• PetroPower Floating, reusable H-WEC-based wave power plant delivering clean offshore energy and communication for small oil and gas discoveries, reducing CAPEX and emissions relative to conventional topside power and subsea cabling. Designed for redeployment across fields.
• RigPower Wave power system integrated onto semi-submersible rig columns to generate clean electricity offshore, displacing diesel generator use and reducing greenhouse gas emissions, operating costs, and supply-ship diesel deliveries. Co-developed with Equinor and GVA.
• AquaPower Floating H-WEC-based wave energy system for offshore aquaculture facilities, producing electricity to displace diesel consumption and integrated with battery storage for continuous operation during calm periods. Avoids costly and complex cable installations.
• PowerBooster Hybrid wave-and-wind H-WEC installation between offshore wind turbines that exploits shared infrastructure and the complementary production profiles of wind and waves to deliver smoother, more continuous power and increase energy per acre at offshore wind farms.

Quantifiable outcome

• Over 80% peak energy conversion rate achieved in lab tests
• +4 more outcomes

Named customers2 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

Nine partnerships are on record, tiered core and supporting.

• Sunnhordaland Kraftlag (SKL)coreStrategic or Co-development Partner · 11 May 2026Havkraft signed an agreement with SKL making them an industrial advisor for piloting a floating wave power plant. SKL contributes professional consulting hours in the work to advance technology to TRL6 level. SKL is an established Norwegian power company with approximately 3.3 TWh annual power production, primarily delivering to the regular power market while actively exploring new energy solutions.
• DNVcoreStrategic or Co-development PartnerOngoing certification process with DNV to ensure technology meets international requirements and can be quickly adopted in the market. DNV is a leading classification and certification company for energy and maritime industries.
• EquinorcoreStrategic or Co-development PartnerCollaboration on RigPower solution - developing wave power technology that can be mounted on semi-submersible rig columns. Focus on how the entire value chain can reduce CO2 footprint as oil and gas operators face growing demands to cut indirect emissions.
• GVAcoreStrategic or Co-development PartnerCollaboration as rig designer on RigPower development. GVA designed the solution for mounting wave power on semi-submersible rigs to enable renewable electricity production on-site.
• RunwayFBUsupportingStrategic or Co-development PartnerHavkraft joined RunwayFBU, a recognized ecosystem for scaling companies with global ambitions. Membership provides access to a dynamic network of entrepreneurs, experts, and investors, strengthening ability to bring clean wave power to the world.
• Easyform in MåløysupportingOthersProduced the Ocean One pilot (1:4 scale model) at their facility in Måløy as part of the testing campaign.
• Stadt Towing TanksupportingOthersConducted scaled model testing in their towing tank facility in Måløy municipality and performed instrumentation installation for Ocean One pilot.
• AbysssupportingOthersPerformed installation of the Ocean One pilot at the entrance of Nordfjord in January 2026.
• Stadt Towing TanksupportingOthersConducted lab testing of scaled wave power converter models in their facility in Måløy, achieving peak conversion rates of over 80%.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Minesto: Swedish developer of the Deep Green subsea tidal kite, a small pre-commercial marine energy company listed in Sweden. Comparable as a Nordic marine renewable energy developer pursuing utility-scale ocean power with modular hardware.
• Mocean Energy: UK-based wave energy startup developing the Blue Star WEC for offshore oil & gas decarbonization (e.g., with OGTC/ENEOS). Comparable as a small pre-commercial WEC developer pursuing the same offshore rig decarbonization customer set.
• AWS Ocean Energy: UK-based developer of Archimedes Wave Swing (AWS) wave energy technology. Comparable as a peer WEC developer pursuing utility-scale wave power using a submerged buoy concept.
• CorPower Ocean: Swedish wave energy company developing OWC-based WEC technology with a similar scale-up path and pre-commercial stage. Directly comparable as a Nordic OWC competitor pursuing the same offshore clean-power opportunity.
• Ocean Power Technologies: US-listed wave energy company developing PowerBuoy WEC systems for offshore oil & gas, security, and aquaculture applications. Comparable as a publicly visible peer pursuing multiple vertical use cases with modular WEC hardware.
• Bombora Wave Power: Australia/UK-based developer of the mWave OWC WEC using flexible membrane technology. Comparable as a peer-stage WEC developer targeting commercial-scale wave power with a different OWC architecture.
• SINN Power: German wave energy startup developing floating OWC WECs with modular chamber designs. Comparable as a small European peer also building modular OWC-based wave energy systems.
• Orbital Marine Power: Scottish tidal stream developer of the O2 floating tidal turbine, the world's most powerful operational tidal turbine. Comparable as a marine renewable energy hardware developer with similar pre-commercial to early-commercial trajectory and offshore energy customers.
• CalWave Power Technologies: California-based wave energy developer working on submerged WEC systems with focus on offshore applications and US Department of Energy pilots. Comparable as a peer-stage wave energy developer progressing from lab to open-sea pilots.

Emerging players

• Eco Wave Power: Israel-based wave energy company developing near-shore, floating WEC systems with multiple installed pilots globally. Comparable as a peer-stage wave energy developer focused on modular, low-cost installations, though its near-shore architecture differs from Havkraft's offshore OWC design.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/Havkraft
• LinkedInlinkedin.com/company/hydrowaveas

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Havkraft