Wave energy developer Novige AB moving forward, awarded €420.000

12.04.2021

Novige AB, with its concept NoviOcean got a budget of €550.000 approved by the Swedish Energy Agency, where €130.000 will be provided by the company. €110.000 will go to Uppsala and KTH University for further research and work into various aspects of the novel concept.

Presently the development is at TRL 5/6, the unit having been prototype tested in both wave tank and offshore in its basic version, scale 1:5. The funding will provide means for further fine-tuning of the float and PTO/machinery, to increase effectiveness and prolong lifetime for various components.

Novige was also recently nominated as one of six for the final round of the Stena Line Propeller Prize. Stena Line Propeller Prize is an entrepreneur prize granted annually to young businesses in the ICT and Maritime Technology arena. Two young growth companies win €10.000 each.

The prize is announced by Blue Science Park during the digital event Innovation Day on May 06 in Karlskrona.