Ocean-Power
- Company typePrivate
- Founded2022
- HeadquartersRogla, Norway
- Headcount1–10
- GTM typeB2B
- OfferingServices
Ocean-Power firmographics
Firmographics- Name
- Ocean-Power
- Legal name
- Ocean-Power AS
- Website
- https://ocean-power.no
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Ocean-Power industry classification
Industry- Product category
- Floating Power Generation with Carbon Capture and Storage (CCS)
- NAICS
- Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)
- SIC
- Cogeneration Services & Small Power Producers (4991), Engines & Turbines (3510)
- akta.pro primary industry
- Marine Diesel & Barge-Mounted Power Generation (EUACACAJ)
- akta.pro secondary industry
- Marine Power Generation & Energy Storage (Generators, Batteries, UPS) (IMAJAJAB)
Keywords
Where Ocean-Power is headquartered
LocationHeadquarters
- HQ city
- Rogla
- HQ country
- Norway
- HQ region
- Europe
Offices1 record
Markets served
Ocean-Power business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Infrastructure, Personnel, Operations, Supply Chain
Revenue model
- Electricity sales: Revenue generated from selling electricity produced by floating gas power plants with CCS to industrial customers and the grid, typically under long-term power purchase agreements (PPAs).
- Heat sales: Revenue from surplus heat sold to local industry and district heating operators.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Ocean-Power product offering
Product offeringCore offering
Ocean-Power develops, owns, and operates floating near-shore gas power plants with integrated carbon capture and storage, marketed under the Blue Power concept. The company delivers reliable 24/7 low-carbon electricity and surplus heat to industrial customers and grid operators under long-term power purchase agreements (PPAs), using fast-track gas engine units of 60–120 MW for rapid deployment and 220 MW combined cycle barges for higher-efficiency baseload supply.
Product overview
Ocean-Power operates a unified product portfolio built around the Blue Power concept — a platform of floating gas power plants with integrated carbon capture and storage. The offering comprises two power generation sub-products: fast-track gas engine units (60-120 MW) for rapid deployment, and combined-cycle barges (220 MW) for higher-efficiency baseload power. These units deliver electricity to the grid and local industry 24/7, independent of weather conditions. The core differentiator is integrated CO2 capture from exhaust gases, with captured CO2 stored in geological formations or transported for utilization. Surplus heat from operations feeds district heating and industrial processes. Multiple project locations are being developed along the Norwegian coast, with Kråkøya and Hammerfest as flagship initiatives.
Differentiator
Problem solved
Functional benefit
Brands
- Blue Power: The Blue Power concept refers to Ocean-Power's floating gas power plants with carbon capture and storage (CCS), delivering reliable, climate-friendly electricity to industry and the grid. Units deliver 60–220 MW to the grid and local industry, with CO2 captured from exhaust and stored geologically.
Products and services
- Blue Power concept Floating near-shore gas power plants with integrated carbon capture and storage (CCS) delivering reliable, climate-friendly electricity and heat to industrial customers and the grid under long-term PPAs. Configurable unit capacity from 60 to 220 MW.
- Fast-Track Gas Engine Units (60–120 MW) Floating gas engine units delivering 60–120 MW for rapid deployment where fast access to power is needed, with integrated CCS.
- Combined Cycle Barge (220 MW) Floating combined cycle barge using gas turbines and steam turbines to deliver 220 MW of high-efficiency power generation with integrated CCS.
- Blue Power Kråkøya project First-of-its-kind-in-Norway floating gas power plant with CCS at Kråkøya biopark and energy hub in Nærøysund municipality. Capable of delivering up to 220 MW of electricity and 180 MW of heat.
- Blue Power Hammerfest project 440 MW floating CCS power hub at Polarbase in Rypefjord, Hammerfest municipality, comprising two Blue Power units delivering electricity and surplus heat for local industry and district heating.
Quantifiable outcome
- 220 MW electric power + 180 MW heat per unit
- +2 more outcomes
Companies that use Ocean-Power
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Ocean-Power technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Ocean-Power partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core, future, flagship and preferred supplier.
- SkogsenergicoreOcean-Power AS and Skogsenergi AS signed a cooperation agreement (MoU) to develop new solutions within sustainable energy based on biomass and gas power with carbon capture. Skogsenergi is a forest energy company.
- Norsk KjernekraftfutureMoU signed to develop concepts where small modular reactors (SMR) can be placed on barges. Goal is to create new sustainable energy solutions with minimal land use, based on Norwegian technology and supplier industry.
- Polarbase EiendomcoreLetter of intent signed with Polarbase Eiendom AS to explore establishing a floating gas power plant with CO2 capture at the Polarbase area in Rypefjord, Hammerfest municipality.
- SBM OffshoreflagshipSBM Offshore signed an investment agreement for initial equity investment in Ocean-Power (January 2025), following a partnership MoU signed in June 2024. SBM Offshore is a global leader in floating production and offshore energy solutions, bringing technology, project execution, and financial backing to the Blue Power concept.
- Kråkøya EiendomcoreLetter of intent and term sheet signed with Kråkøya Eiendom for the Blue Power Kråkøya biopark and energy hub project in Nærøysund municipality. Kråkøya Eiendom provides the site for the first floating gas power plant with CCS under NVE licensing.
- Veri EnergycoreMoU with Veri Energy Limited and Amplus Energy Services Limited to transform the offshore energy sector by significantly reducing the carbon footprint of petroleum activities through carbon storage services for offshore electrification.
- SBM OffshoreflagshipSBM Offshore and Ocean-Power signed a MoU to collaborate on a floating power generation hub with CO2 capture and storage. SBM Offshore leverages its offshore engineering expertise and global client relationships (including Microsoft) to advance the Blue Power concept.
- Copenhagen AtomicsfutureMoU to jointly study the potential for producing green electricity and heat in Norway using thorium-based molten salt reactors. Copenhagen Atomics is a Danish nuclear technology company.
- Carbon Circlepreferred supplierListed as a preferred supplier and service provider on Ocean-Power's About page. Likely provides carbon capture technology or services for the Blue Power CCS system.
- Sevan SSPpreferred supplierListed as a preferred supplier and service provider on Ocean-Power's About page. Sevan SSP provides specialized offshore engineering solutions.
- Siemens Energypreferred supplierListed as a preferred supplier on Ocean-Power's About page. Siemens Energy is a global energy technology company likely providing power generation equipment such as gas turbines or generators.
- Techousepreferred supplierListed as a preferred supplier on Ocean-Power's About page. Techouse provides technical house services or energy-related solutions.
Scale indicators6 records
Recent moves6 records
Expansion highlights7 records
Ocean-Power competitors and assessment
Company assessmentDirect peers
- Aggreko: Global leader in modular, rental, and temporary power generation, including gas-engine and gas-turbine containerized units (typically 1-300 MW) sold under medium-term PPAs to industrials and utilities. Closely comparable business model of fast-deploy gas-fired generation under long-term offtake, though Aggreko does not float its units or integrate CCS.
- Karpowership: Karpowership operates a global fleet of floating power ships delivering barge-mounted gas, diesel, and HFO power plants (typically 30-500 MW) to utilities and industrial customers under PPAs. Directly comparable to Ocean-Power's floating power plant model, though Karpowership lacks CCS integration and operates primarily in emerging markets.
- APR Energy: Provider of large-scale modular gas and diesel turbine power plants (50-300+ MW) under multi-year PPAs to utilities and industrial customers, including rapid-deployment projects. Comparable fast-track, modular gas generation business model serving similar customer segments as Ocean-Power.
- Aker Carbon Capture: Norwegian-listed CCS technology company delivering amine-based carbon capture units to industrial and power-generation customers. Closely comparable as a Norwegian CCS player targeting similar industrial emitters, and a potential CCS technology supplier or competitor for Ocean-Power's Blue Power concept.
Emerging players
- ZEG Power: Norwegian company developing biomass gasification combined with carbon capture for low-carbon hydrogen and power production. Closely comparable emerging CCS player with overlapping Norwegian regulatory and offtake pathways; Ocean-Power's VP Technology Margrethe Stenrød West was previously ZEG Power's Technology Platform Director.
Broad incumbents
- Siemens Energy: Global OEM of large gas turbines (SGT-800, SGT-9000HL) and power plant systems used in combined-cycle and baseload generation. Listed as a preferred supplier to Ocean-Power and a natural technology peer for the 220 MW combined-cycle barge product line.
- Equinor: Norwegian energy major operating Sleipner, Snøhvit, and Northern Lights CCS projects, with deep offshore competence and floating infrastructure capabilities. Not a direct competitor but the most relevant incumbent shaping Norwegian CCS regulation, gas supply, and offshore engineering benchmarks relevant to Ocean-Power's concept.
- MAN Energy Solutions: German manufacturer of large-bore gas and dual-fuel engines plus turbomachinery for power generation and marine propulsion. Directly comparable as a potential supplier of gas engines for Ocean-Power's fast-track units and a peer in marine-class power generation technology.
- Wärtsilä: Finland-based global manufacturer of gas and dual-fuel engines used in marine propulsion and decentralized power generation. Highly comparable as the underlying gas engine technology provider for fast-track power generation, and a likely equipment partner or competitor for Ocean-Power's 60-120 MW units.
- Bergen Engines: Norwegian manufacturer of medium-speed gas and diesel engines for marine and stationary power applications. Relevant Norwegian-based peer for the underlying gas engine technology Ocean-Power deploys in its 60-120 MW fast-track units.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Ocean-Power social profiles
Digital presenceOcean-Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ocean-Power leadership team
Management profileNumber of profiles
Profiles8 records
Ocean-Power funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ocean-Power M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ocean-Power
What does Ocean-Power do?
Ocean-Power develops, owns, and operates floating near-shore gas power plants with integrated carbon capture and storage, marketed under the Blue Power concept. The company delivers reliable 24/7 low-carbon electricity and surplus heat to industrial customers and grid operators under long-term power purchase agreements (PPAs), using fast-track gas engine units of 60–120 MW for rapid deployment and 220 MW combined cycle barges for higher-efficiency baseload supply.
Is Ocean-Power a public or private company?
Ocean-Power is a private company. It is classified as venture growth investor backed and is currently operating.
When was Ocean-Power founded?
Ocean-Power was founded in 2022. It employs 1 to 10 people.
Where is Ocean-Power based?
Ocean-Power is headquartered in Rogla, Norway, in the Europe region.
How does Ocean-Power make money?
Two revenue lines are on record. Electricity sales are the primary driver. The others are heat sales.
Who are Ocean-Power's main competitors?
Direct peers on record are Aggreko, Karpowership, APR Energy and Aker Carbon Capture. ZEG Power is listed as an emerging player. Broad incumbents are Siemens Energy, Equinor, MAN Energy Solutions, Wärtsilä and Bergen Engines.
Does Ocean-Power have an API?
No public API is recorded for Ocean-Power.
What industry is Ocean-Power in?
Ocean-Power's product category is Floating Power Generation with Carbon Capture and Storage (CCS). Its primary akta.pro industry code is EUACACAJ, Marine Diesel & Barge-Mounted Power Generation, with a secondary code of IMAJAJAB, Marine Power Generation & Energy Storage (Generators, Batteries, UPS). Its NAICS code is 221112 and its SIC code is 4991.