Flocean has raised 100M NOK ($9m) in Series A funding to develop sustainable desalination technology and provide freshwater access worldwide.
The round was led by Burnt Island Ventures, Nysnø Climate Investments and Freebird Partners, with participation from Katapult Ocean, MP Pensjon, and former Bridgewater Associates executives investing through a Donor Advised Fund structure.
With global freshwater demand projected to exceed supply by 40% in 2030, this funding will accelerate the deployment of commercial subsea desalination projects worldwide, advancing our mission to address the global water scarcity crisis with sustainable, cost-effective water solutions.
More than 1 billion people globally lack access to clean water. Desalination of ocean water is a key part of the solution, but current seawater desalination plants are extremely energy intensive, emitting more than 400 million tons of carbon dioxide into the atmosphere annually and discharging more than 50 million tons of brine daily into our oceans.
Traditional desalination plants fuel adverse climate effects and threaten marine biodiversity while remaining vulnerable to environmental threats like storms and algal blooms. Centralized onshore locations also expose water supplies to security and geopolitical risks.
Flocean’s technology addresses traditional desalination challenges by implementing deep water reverse osmosis (RO) systems 400-600 meters under the ocean. Taking advantage of the already pressurized and predictably clean deep sea water, the company claims that its approach reduces energy consumption by up to 50% and eliminates toxic brine discharge. This reduces land use by up to 95% compared to current methods and enhances ocean health.
“Flocean’s subsea approach represents a leap forward in sustainable desalination, aligning perfectly with our commitment to climate-positive solutions,” said John Egil Johannessen, Investment Manager at Nysnø Climate Investments. “By harnessing natural ocean pressure and reducing energy use, Flocean is setting a new standard for the industry.”
Flocean operates under a BOO (Build-Own-Operate) model, structuring each project as a Special Purpose Vehicle (SPV) to finance and deliver long-term, bankable water supply agreements. These SPVs secure 15- to 25-year offtake agreements for freshwater production, supplying volumes from 5,000 to 50,000 m³ per day to municipal, industrial, and agricultural clients. This model ensures predictable, stable revenue streams and offers clients cost-effective, climate-resilient water supply solutions. We have already signed agreements across multiple strategic locations and are developing a large-scale demonstration system. This approach underscores our commercial readiness and scalability, providing an economically viable, sustainable freshwater solution for municipalities, industry and agriculture diverse sectors.
“Flocean is a game-changer in the desalination sector that’s been slowed by environmental concerns and permitting, and a lifeline for regions facing escalating water shortages,” noted Steve Kloos, Partner at Burnt Island Ventures and Director at Flocean. “This is the kind of creative, scalable solution we need to tackle the water crisis head-on, by a passionate team with deep subsea expertise.”
“This investment in Flocean marks a turning point in the industry,” added Jonas Skattum Svegaarden, CEO in Katapult Ocean. “We are thrilled to support a company that combines proven Norwegian subsea technology with a clear vision for addressing both ocean health and water scarcity.”