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Sunlit Sea
Prefabricated floating solar panels for marine environments
About Sunlit Sea
Sunlit Sea AS, established in 2019, is a Norwegian company specializing in floating solar power technology for marine applications. The company was co-founded by Per Lindberg, who serves as CEO, and Eirik Larsen, the CFO/CDO. Lindberg holds a PhD in Physics and has 15 years of experience in solar project development, while Larsen has a background in computer science with 20 years in programming and business.
The company's core product is a scalable photovoltaic system designed for near-shore and inland waters. Its technology is centered around the prefabrication of serially connected solar panels that are integrated with robust, heat-conductive aluminum floats. This design creates a tightly packed matrix of water-cooled panels that lie flat on the water, which enhances cooling, provides resistance to high winds, and allows for efficient performance in wavy conditions. This pre-assembly approach is designed to significantly accelerate deployment, with initial tests showing the potential to be 17 times faster than conventional on-site methods, thereby reducing construction costs and weather-related risks.
Sunlit Sea's business model includes the sale of its floating solar products and providing hourly charged services for project development in solar and hydrodynamic fields. The company is targeting the rapidly expanding floating solar market, which is projected to grow significantly faster than traditional land-based solar installations. While testing its technology in Norway, Sunlit Sea views sunnier regions like Central America, the Middle East, and Southeast Asia as its most promising markets. The company has received backing from investors including Holta Invest and Nunchi (Norway).
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Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| LATE VC✓Equity / VC | Nov 2021 | $28M | $111M | Undisclosed | ↗ |
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Latest recorded traffic for Sunlit Sea is 1.8K monthly website visits, up 104.5% over the last three months. Sunlit Sea's team grew 0% over the past year.
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