Ocean Oasis ramps up with 2.5 M€ grant

Kristine and Winifred

Ocean Oasis CEO Kristine Bangstad Fredriksen and chair of the board of directors Winifred Johansen.

Picture credit: Dag Knudsen.

Ocean Oasis has been awarded 2.5 million euros from the European Innovation Council (EIC) Accelerator.

The European Innovation Council under Horizon Europe has awarded the grant for Ocean Oasis to advance our ‘Rewater’ project in Gran Canaria. The two-year project aims to mature our wave-powered desalination technology and encompasses the design, construction, deployment and testing of a full-scale desalination buoy.

The jury believes that Ocean Oasis’ innovation could technologically disrupt the desalination market worldwide.

Desalination of seawater needs to scale substantially in an increasingly water-stressed world. But it needs to do so without large emissions and and without harming the local marine ecosystems.

Kristine Bangstad Fredriksen, Ocean Oasis CEO

The EIC selection of projects to support follows a rigorous process, introduced under Horizon Europe, and involves an idea screening stage, an assessment of detailed applications by external experts, and an interview with a panel of experienced investors and entrepreneurs.

The awarded grant is a great recognition for us and our mission. We hope that our solution can help ensure that in the future we will have enough clean water for the world’s population without high costs and large emissions.

Kristine Bangstad Fredriksen, Ocean Oasis CEO

The EIC Accelerator offers start-ups and SMEs grants of up to EUR 2.5 million combined with equity investments through the EIC Fund. In addition to financial support, funded projects benefit from a range of Business Acceleration Services that provide access to leading expertise, corporates, investors and ecosystem actors.

Ocean Oasis is currently preparing testing of its full-scale pilot buoy in 2022. CEO Kristine Bangstad Fredriksen says that the company will also raise more private capital during the coming year.

Jan 15, 2022