NoviOcean by Novige AB's post
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.
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85 w
But don't exclude the other clean power sources. It's the mix that's important
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83 w
Certainly Simon. The essence lays in the fact that nowadays fossils are used the most just at those times when wave energy produces with high performance. Meaning that for the climate change mitigation is highly more important to produce fully at those times to both lower the emission and the consumer costs, all in one solution.