Project description
A solution to address offshore energy challenges
To harness wind power for the offshore e-power industry it’s necessary to balance supply and demand amid unpredictable weather conditions. However, the intermittent nature of wind production leads to market oversupply, negative energy prices and the looming threat of blackouts. This creates a EUR 200 billion energy storage demand. The EIC-funded OCEANBATTERY project will use proprietary technology to combat the intermittent production of wind power. By reducing the capital expenditure for offshore power grids, the patented and sustainably produced Ocean Battery system ensures a return on investment. The project showcases the Ocean Battery in a lake, offering a full-scale operational system that paves the way for offshore scaling, supporting the global energy transition.
Objective
The Ocean Battery is a CES Best-of-Innovation Award winning breakthrough solution based on proprietary Key Enabling Technology to solve the huge challenge of balancing supply & demand for the global offshore e-Power
industry due to intermittent production of wind power. Our patented and sustainably produced Ocean Battery system substantially lowers the CAPEX for the massively expensive offshore power grid, generating a very high ROI for the unique Ocean Battery. Soon, weather conditions dictate the timing
of renewable energy production, causing large fluctuations. Oversupply, resulting in negative energy prices and even blackouts create a market in excess of 200 bn for energy storage. This project demonstrates the Ocean Battery in a lake: a full-scale operational system to show and validate the
operation, installation, and maintenance processes. After that, the solution is ready to scale offshore and support the energy transition by providing GWh-scale ecofriendly energy storage.
Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
-
HORIZON.3.1 - The European Innovation Council (EIC)
MAIN PROGRAMME
See all projects funded under this programme
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
HORIZON-EIC-ACC-BF - HORIZON EIC Accelerator Blended Finance
See all projects funded under this funding scheme
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) HORIZON-EIC-2023-ACCELERATOR-01
See all projects funded under this callCoordinator
Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
9726 AC Groningen
Netherlands
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.