Inocean is founder and partner of the floating wind turbine company SWAY, a world leader in the area of floating wind turbines.
Inocean's commitment to wind power at sea is today concentrated at Sway. In autumn 2007, the company received NOK 150 million in new capital to provide the necessary financial platform for commercializing the company's unique and patented deepwater wind turbine technology. Inocean remains a major shareholder, but Statoil, Lyse, Gyldenløve, Rosenberg Verft and Scatec (the company of REC founder Alf Bjørseth) have joined us as co-owners.
Sway is leading the way in an area described by scientists, businesses, environmentalists and state secretaries as a "new Norwegian industrial adventure" and a "new moon landing for Norway". Why? Offshore windmill parks can solve both energy and environmental challenges.
Utilizes deepwater areas
The Norwegian Water Resource and Energy Directorate (NVE) has calculated the energy potential in Norwegian oceans with a maximum water depth of 50 meter to 800 TWh annually. To compare, consider Norway's total estimated annual power consumption in 2020: 140 TWh. Sway enables energy producers to utilize deepwater areas even further offshore; the theoretical potential is many times larger.
Designed to withstand extreme weather conditions
With Sway's patented technology, floating wind turbines adapted to deepwater ocean areas that are subject to rough weather conditions, such as the North Sea, can be built. The construction utilizes the strong wind offshore, while avoiding some of the challenges with wind turbines located onshore. Sway's wind turbines offshore can be anchored in ocean areas of several hundred meters' water depth and will be designed to withstand extreme weather conditions.
Video: Sway on CNBC and Fox Business Network