ABOUT US: Novige AB is a cleantech company based in Sweden that is in the process of developing and commercializing NoviOcean, a breakthrough wave energy converter (WEC) concept. "Saving the climate with profitable wave power" is our goal and driving motivation. Novige’s long-term vision is to contribute to the reduction of fossil fuels in the energy sector on a global scale. OUR MISSION AND STRATEGIES: 1- We offer an innovative device aimed to harvest renewable energy from ocean waves in a cost-efficient and sustainable way. 2- We unlock highly competitive electricity prices never seen before in the ocean energy sector while offering reliability, security of supply, and high versatility. 3- We explore new hybrid generation alternatives such as on-site hydrogen production and/or solar PV additions and onboard battery/supercapacitor storage to our solution in order to create synergies and maximize the output. 4- We produce cheap electricity during peak demand hours and hydrogen when demand is low. The converted energy, phase-shifted from wind power will have a stabilizing effect on the renewable energy supply. 5- We facilitate scalability and global market penetration through an affordable global licensing strategy to make the necessary impact for the reduction of GHG emissions. OUR TARGETS: Novige’s target for 2030 is to reach 100 MW cumulative NoviOcean WEC deployments globally. Calculations show that by 2030, NoviOcean’s LCOE would have reached 54 €/MWh on average, half of the set target by Ocean Energy Europe under the high growth scenario (110 €/MWh). With the right support, Novige aims to reach a minimum global cumulative deployed capacity of 4 GW by 2050 for the NoviOcean WEC (10% of the target set by the European Commission). That level of deployment is enough to help the technology reach the LCOE of 28 €/MWh on average, at the same level compared to onshore wind and solar in 2050, and approximately 60% of the cost expected for offshore wind. According to our estimations, this target roughly amounts to 12 € Billion in sales.