floating solar panels

Investors

A new technology for floating solar, enabling access to near-shore and inland locations at an unparalleled price per kilowatt-hour. The product is proven and the company is gearing up it's production capability to meet a rapidly increasing demand.

Why invest in Sunlit Sea?

1.
Very good history of gained value from 2019 to now
2.
Deep-tech; where the biggest technology risk has already been overcome
3.
Huge market estimated at an additional 10 GWp of installed capacity by 2025
4.
Pilot customers established in Norway. Strong interest internationally
5.
Professionally competent and stable partner network
6.
Strategic investors on the shareholder list and on the board. Strong interdisciplinary team with cutting-edge expertise in their technologies
7.
The technology offers the market's lowest price for near-shore solar power, both in terms of capital cost (CAPEX), operating cost (OPEX) and levelized-cost-of-electricity (LCOE)
Governance
KIM ANDRÉ JOHNSEN
Nunchi
PER LINDBERG
Sunlit Sea
EIRIK LARSEN
Kodeworks

Corporate Governance

  • Professionally skilled and working board
    • Per Lindberg - Chairman of the Board
    • Eirik Larsen - board member
    • Kim AndrĂ© Johnsen - board member
  • Core competence committed and incentivized to remain in the company
  • Strong rights for all shareholders
  • Openness and a culture of sharing also towards investors
  • Corporate governance regulated by a solid shareholder agreement and the Norwegian Companies Act.

Marketing

Smart Quoter facilitates web-based customer interaction. Customers can pre-design their floating solar power plant and receive indicative data on CAPEX, OPEX, production, wind and wave conditions, requirements for anchoring system, delivery time and so on.
The system has already generated leads on projects and works well to facilitate sales work.
marketing_1
Smart Quoter, 100 MWp in Abu Dhabi
marketing_2
Wave and wind data for a location are used to calculate the marine grade performance ratio
marketing_3
Solar radiation for a location, taken from public sources

Costs with floating solar power

CAPEX, OPEX and LCOE * for projects in floating solar power at sea are often considered by analysts to be dominated by: long-term installation processes with low quality, marine fouling and pollution, uncertainty about the effect of long-term operation, expensive financing due to risk, and a number of other factors.
Sunlit Sea has an efficient production process, quality assurance, installation procedure and predictable maximum loads on the anchoring system, which means that CAPEX is somewhat lower than the competition.
OPEX is positively affected by the use of smart materials and material processing to prevent marine fouling, and also the design itself of the system itself which facilitates easy operation and maintenance.
The big return-of-investment in our system is however obtained through a very low LCOE, due to: the rigidity of the float, reducing panel degradation; efficient bonding techniques, reducing water ingress; direct contact with water, increasing electricity production and preventing panel degradation over time; and, prefabrication whole strings, improving quality and error-prone field work. Furthermore, our unique work within the marine grade performance ratio adds up to significantly lower financial risk Sunlit Sea projects.
* CAPEX = capital expenditures, OPEX = operating expenses, LCOE = levelized cost of electricity over the lifetime of an installation.

Patent

  • Sunlit Sea holds two patent applications in the UK dated 23.12.2019.
  • The patent applications were extended to international PCT applications on 22.12.2020.
  • Both applications have passed the IPE stage.
  • The patents describe characteristics concerning the float itself; and the way floats are connected.
  • Sunlit Sea has conducted thorough prior art investigations, and verified that no known existing patents or patent applications are infringed. No potential prior art were in the public domain at the time of the applications.
  • In all work where subcontractors are involved, Sunlit Seas' IP rights are secured, so that we avoid situations where a third party is a co-inventor in any future patents.