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.
Flocean 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, Flocean’s 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.
"We are excited to have the support of such strong partners who share our vision for a more water-resilient future," said Alexander Fuglesang, CEO of Flocean. "This funding enables us to demonstrate our technology at scale and deliver the world’s first subsea desalination plant, revolutionizing how freshwater is produced."
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. Flocean has already signed agreements across multiple strategic locations and is developing a large-scale demonstration system.
"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," said 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."
"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."
