WORLD LEADING TECHNOLOGY PROVIDER TO FLOATING PV SYSTEMS
Inspired by the Norwegian Martime heritage Ocean Sun has developed a highly competitive and unique solution for Floating PV(“FPV”) that is licensed out for a fee per Watt installed.
KEY INVESTMENT HIGHLIGHTS
for Floating PV
Ocean Sun has developed a purpose-made floating PV¹ (“FPV”) solution offering superior economics through >25% lower CAPEX² and >5% higher efficiency² than other FPV solutions in the market.
Concept proven with patent applications filed or granted in key FPV markets, such as US, China, and Brazil, and the only FPV solution to have received a Statement of Conformity from DNVGL (verifying its accordance with global safety standard).
Floating PV installation growth expected at >40% annually³
Floating PV benefits from development in regular PV and is growing fast given (i) declining land availability, (ii) falling unit costs and (iii) increased efficiency
Extensive project pipeline⁴
Contracts with recognized players (e.g. Statkraft, EN Technologies) for +100 MWp, implying strong earning potential in the medium to long-term future.
Ongoing project discussions exceeding 3+ GWp
Scalable and asset light business model
Ocean Sun receives a technology license fee per Watt installed, enabling high scalability, limited project risk and strong cash generation potential.
Production and installation in collaboration with established and leading partners with ample capacity
Experienced and committed team ready to scale
Management team has significant track-record in solar and offshore industries globally.
Aligned incentives through high degree of management ownership interests
Note: 1) Photovoltaics. Source: 2) SERIS, Ocean Sun Journal of Cleaner Production. 3) Average of forecasts by Wood Mackenzie & Research and Markets. 4) “Pipeline” means potential projects where the Group is in discussions with possible customers, but where no binding contract or commitment exists. The likeliness of such projects becoming binding contracts or commitments, and/or what terms and conditions that will apply to such contracts (if entered into) are uncertain.