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Local Newspaper “Lysekilsposten" visits Seabased

On Thursday the 23rd of February, the local paper, Lysekilsposten, published an article about its tour of the Seabased factory in Lysekil and interview with both CEO Øivind Magnussen and founder Mats Leijon. Read the article in here. (Swedish only)

Kallelse till årsstämma i Seabased AB (publ.)

Aktieägarna i Seabased AB (publ), org. nr. 556617-6557, kallas härmed till årsstämma tisdagen den 12 juli 2016, klockan 13.30, i konferensrum, ”Gustavianum” på Clarion Hotel Gillet, Dragarbrunnsgatan 23, 753 20 Uppsala.

Aktieägare som önskar delta i bolagsstämman skall, för att ha rätt att delta i stämman, vara införd i den av styrelsen förda aktieboken på dagen för stämman.

Anmälan
Aktieägare som avser delta i stämman ombedes, för att underlätta planeringen inför stämman, att senast torsdagen den 7 juli ha anmält sitt deltagande till bolaget per telefon: 018 – 504 810 eller via e-mail till This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it.">

Länk till fullmaktsformulär, klicka här.

Ombud mm.
Aktieägare som avser att närvara genom ombud skall utfärda daterad fullmakt för ombud. Om fullmakt utfärdas av juridisk person skall bestyrkt kopia av registreringsbevis eller motsvarande för den juridiska personen bifogas. Fullmakts giltighet får anges till längst ett år från utfärdandet. Fullmakt i original samt eventuellt registreringsbevis bör i god tid före årsstämman insändas till bolaget på ovan angiven adress. Bolaget tillhandahåller fullmaktsformulär på begäran och detta finns också tillgängligt på bolagets webbplats, www.seabased.com.

Förslag till dagordning:
1. Val av ordförande vid stämman.
2. Upprättande och godkännande av röstlängd.
3. Godkännande av förslaget till dagordning.
4. Val av en eller två justeringsmän.
5. Prövning av om stämman blivit behörigen sammankallad.
6. Framläggande av årsredovisning och revisionsberättelse och koncernredovisning och koncernrevisionsberättelse.
7. Redogörelse av verkställande direktören.
8. Beslut om: a) fastställande av resultaträkningen och balansräkningen samt koncernresultaträkningen och koncernbalansräkningen; b) dispositioner beträffande bolagets förlust enligt den fastställda balansräkningen; samt c) ansvarsfrihet åt styrelsens ledamöter och verkställande direktören.
9. Fastställande av arvoden till styrelse och revisor.
10. Val av styrelse och i förekommande fall val av revisor samt styrelsesuppleanter och revisorssuppleanter.
11. Beslut om bemyndigande av styrelsen att vidta nyemission mm.
12. Beslut om antagande av ny bolagsordning
13. Stämmans avslutande.

Styrelsens beslutsförslag:

Punkten 8 b: Styrelsen föreslår att den ansamlade förlusten överförs i ny räkning och att ingen utdelning skall lämnas för räkenskapsåret.

Punkten 11: Styrelsen föreslår att bolagsstämman bemyndigar styrelsen att, vid ett eller flera tillfällen under tiden fram till nästa årsstämma, fatta beslut om nyemission av aktier, teckningsoptioner och/eller konvertibler. Styrelsen skall kunna besluta om emission av aktier, teckningsoptioner och/eller konvertibler med avvikelse från aktieägarnas företrädesrätt och/eller med bestämmelse om apport, kvittning eller andra villkor i enlighet med aktiebolagslagen.

Emission i enlighet med detta bemyndigande skall ske på marknadsmässiga villkor. Styrelsen skall äga bestämma villkoren i övrigt för emissioner enligt detta bemyndigande samt vem som skall äga rätt att teckna aktierna, teckningsoptionerna och/eller konvertiblerna. Skälet till att styrelsen skall kunna fatta beslut om emission med avvikelse från aktieägares företrädesrätt och/eller med bestämmelse om apport- och kvittningsemission eller andra villkor enligt ovan är att bolaget skall kunna emittera aktier, teckningsoptioner och/eller konvertibler i samband med förvärv av bolag eller rörelser, samt kunna genomföra riktade emissioner i syfte att införskaffa kapital till bolaget.

Verkställande direktören, eller den styrelsen utser, föreslås bli bemyndigad att vidta de smärre justeringar i detta beslut som kan komma att vara nödvändiga i samband med registrering vid Bolagsverket.

Punkten 12: Styrelsen föreslår att bolagsstämman beslutar att anta en ny bolagsordning varigenom bolagsordningens §2 ändras från ”Styrelsen skall ha sitt säte i Uppsala” till ”Styrelsen skall ha sitt säte i Lysekil kommun”. Vidare föreslås att en ny §9 införs i bolagsordningen vari det skulle föreskrivas att ”Utöver i Lysekil kommun får stämma även hållas i Uppsala kommun”.

Majoritetskrav
Beslut enligt punkterna 11-12 ovan förutsätter för dess giltighet biträde av aktieägare med minst två tredjedelar av såväl de avgivna rösterna som de vid stämman företrädda aktierna.

Upplysningar på årsstämman
Styrelsen och verkställande direktören skall, om någon aktieägare begär det och styrelsen anser att det kan ske utan väsentlig skada för Bolaget, lämna upplysningar om förhållanden som kan inverka på bedömningen av ett ärende på dagordningen, förhållanden som kan inverka på bedömningen av Bolagets eller dotterföretags ekonomiska situation och Bolagets förhållande till annat koncernföretag. Den som vill skicka in frågor i förväg kan göra det till Seabased AB (publ), Sylveniusgatan 5D, 754 50 Uppsala, eller via e-post till: This email address is being protected from spambots. You need JavaScript enabled to view it..">This email address is being protected from spambots. You need JavaScript enabled to view it..

Tillhandahållande av handlingar
Redovisningshandlingar och revisionsberättelse samt styrelsens fullständiga förslag enligt punkterna 11-12 ovan samt övriga handlingar enligt aktiebolagslagen kommer att hållas tillgängliga på Bolagets kontor med adress Sylveniusgatan 5D, 754 50 Uppsala senast tre veckor före stämman, dvs. senast tisdagen den 21 juni 2016. Handlingarna skickas också utan kostnad till de aktieägare som begär det och som uppger sin postadress. Handlingarna kommer även att finnas tillgängliga vid årsstämman.

Uppsala i juni 2016
Seabased AB (publ)
Styrelsen

Leaders of Ocean Energy Organizations Visit Seabased Factory

At the request of the Swedish Energy Agency, on May 11th Seabased Group hosted an international study tour of Seabased’s manufacturing facilities in Lysekil, Sweden.

The approximately 70 attendeesincluded Chairman José Luis Villate and most of the members of the Ocean Energy Systems (OES) Executive Committee,as well as representatives from the Swedish Energy Agency and key organizations in the ocean energy field, including OCEANERA-NET.

The OES, one of the Technology Collaboration Programmes of the IEA, is the principal international organization for the advancement of technology collaboration in the ocean energy sector and has consistently shown great interest in wave technology. Chairman Villate comments the visit: “The complete manufacturing capabilities of Seabased’s factory in Lysekil clearly show that wave energy technology is moving from prototype testing to a more industrial phase. This will be a huge boon for the ocean energy sector both in the EU and worldwide.” 

“It was our pleasure to welcome such a prominent group of experts and leaders of ocean energy organizations from the EU and around the world,” says Dr. Mats Leijon, co-founder and CEO of Seabased Group. “We at Seabased are most appreciative for this opportunity to share our experiences and inform about the possibilities of wave energy, one of the most promising renewable energy sources in the world today.“  

The study trip was arranged in conjunction with the 2016 Ocean conference (Havsenergiforum), hosted by the Swedish Energy Agency at Smögens Hafvsbad on the Swedish west coast.

About the OES TCP

Ocean Energy Systems (OES), also known as the Technology Collaboration Program (TCP) on Ocean Energy Systems is an intergovernmental collaboration that operates under a framework established by the International Energy Agency in Paris. Presently, the OES has 23 member countries with a number of other observer countries in the process of joining.

About OCEANERA-NET

OCEANERA-NET, or the Ocean Energy European Research Area Network (ERA-NET), is an EU initiative to help address the research and innovation challenges for European renewable ocean energy. It brings together 15 European research funding organizations from 8 EU countries (Belgium, France, Ireland, Netherlands, Portugal, Spain, Sweden, and the United Kingdom).

About Seabased
Seabased Group is a global leader wave energy solutions and plans, builds and delivers complete, scalable grid-connected wave parks.

Seabased has developed wave energy solutions in close cooperation with Uppsala University since 2001, and holds approximately 20 families of patents. Seabased employs around 45 people and has its operational factory in Lysekil on the west coast of Sweden.

Seabased creates value through providing renewable wave power solutions to a global market in a manner that is technically, economically, ecologically and ethically sustainable, and by doing so, offer a significant and tangible contribution to the worldwide growing need for affordable electricity.


Contact:
Mats Leijon
CEO Seabased AB
This email address is being protected from spambots. You need JavaScript enabled to view it.

Seabased Group - Preliminary Annual Result 2015

Highlights from the fiscal year 2015 include Seabased’s development of the new Wave Power System (S-series), in keeping with the company’s market strategy for Asia and Africa. The S-series is a modular system that is especially well suited for the shallow waters (20-30 meters) and smaller waves (2-3 meters) commonly found close to the equator. This series has already been well received and has successfully brought about several commercial opportunities, including pre-studies and contracts in India and Ghana during Q1 2016. In addition, technological advances have resulted in significantly reducing both time and cost of production. Significantly enhanced investments in both personnel and technology are needed in order to take full advantage of these commercial opportunities; hence the company’s ongoing initiative to raise capital.

In December 2015, Seabased successfully connected Wave Power Plant on the Swedish West Coast, to the Swedish National Grid. The completed connection was the result of a joint effort between Seabased, Fortum and the Swedish Energy Agency. See also Fortum’s press release.

The preliminary results for Seabased Group for fiscal year 2015, as audited by Price Waterhouse Coopers, show:
• An 11% increase in turnover, from about 80M SEK in 2014 to 88 MSEK in 2015.
• EBITDA shows a profit of 6 MSEK, comparable to 7 MSEK in 2014.

“I am pleased with the Seabased team’s accomplishments in 2015 and the opportunities these have created for us, as we step more fully into a more export and growth intensive stage of than we’ve previously experienced in the company’s 15-year history,” says Mats Leijon, co-founder and CEO of Seabased Group AB.

Details of the 2015 results will be made available on the Seabased.com website when they are finalized.

Seabased AB
Seabased AB is a global leader wave energy solutions and plans, builds and delivers complete, scalable grid-connected wave parks.
Seabased has developed wave energy solutions in close cooperation with Uppsala University since 2001, and holds approximately 20 families of patents. Seabased employs around 45 people and has its operational factory in Lysekil on the west coast of Sweden.
Through innovative and cost effective solutions for renewable electricity generation, Seabased AB strives to create long-term value for its customers, partners, shareholders, employees and society.
Contact:
Mats Leijon
CEO Seabased AB
This email address is being protected from spambots. You need JavaScript enabled to view it.

Kallelse till extra bolagsstämma i Seabased AB (publ), org. nr: 556617-6557

Aktieägarna i Seabased AB (publ) kallas härmed till extra bolagsstämma måndag 25 april 2016, med början klockan 13.00, i Seabased AB:s lokaler, Sylveniusgatan 5D i Uppsala.

Aktieägare som avser delta i stämman ombedes, för att underlätta planeringen inför stämman, ha anmält sitt deltagande till bolaget via e-mail på This email address is being protected from spambots. You need JavaScript enabled to view it..

Förslag till dagordning:

1. Val av ordförande vid stämman.

2. Upprättande och godkännande av röstlängd.

3. Godkännande av förslaget till dagordning.

4. Val av en justeringsperson.

5. Prövning av om stämman blivit behörigen sammankallad.

6. Val av styrelseledamöter.

7. Stämmans avslutande.

Uppsala i april 2016

Seabased AB (publ)

Länk till fullmaktsformulär, klicka här

 

Second Commercial Wave Power Order to Africa

Today TC Energy of Ghana and Seabased Africa AB signed a second commercial order for a further 5 MW developement of the wave power plant at Ada, Ghana.


Signing of the 5MW contract for Ghana. From left; Hans Bernhoff, Chairman of the Seabased
Group , Mr Tony Opoku, CEO of TC Energy and Mats Leijon, CEO of the Seabased Group. 


"We are in the process of building the largest wave power plant in Africa and we are happy to benefit from the rapid development in Sweden", said TC Energy's CEO Tony Opoku when the contract was signed at Seabased´s head office in Uppsala, Sweden.

The turnkey wave power plant will be manufactured in Seabased´s factory in Lysekil, Sweden, and be based on the new, larger S 2,7 Wave Energy Converter design. The plant will be connected to the existing TC Energy premises in Ghana. 

"We have to commend TC Energy for setting targets for our technology in the African market. This order is a recognition of our technical solutions development and of our efforts to satisfy our customers' requirements", commented Mats Leijon, CEO of the Seabased Group.

Shutting down of the Swedish website

The Seabased Wave Energy Systems address requirements and opportunities on a global market. It has consequently been decided to shut down the company’s Swedish website and to focus on the updating and continuous improvement of the English website. The Swedish domain will remain, for the time being, and visitors will be automatically linked onwards to the English website.

Wave Power generated to Nordic Electricity Grid!

With the connection of the first buoys to the Wave Energy Converters the Sotenäs Wave Power Plant on the Swedish West Coast is now since last week generating electric power to the Nordic Electricity Grid.

The connection of the six meter diameter buoys to the corresponding linear generator Wave Energy Converters on the seabed represents the final step in bringing each unit on line, together making up a system establishing many World firsts, including the World’s first multiple unit wave power plant and the World’s first subsea generator switchgear.

“This is a very significant achievement”, says Prof. Mats Leijon, Seabased CEO. “We are very happy to have come this far and I wish to thank Fortum and the Swedish Energy Agency for their confidence and support all throughout this, sometimes tough, journey”, says Mats Leijon. Seabased is continuing working on several other projects utilizing this globally patented concept.

The Sotenäs Wave Power Plant is financed by Fortum, the Swedish Energy Agency and Seabased. Research and Development within Seabased is carried out in close cooperation with researchers at the Centre for Electric Renewable Energy Conversion at the Ångström Laboratory, Uppsala University.

The Sotenäs Wave Energy Plant grid connected!

A very significant step in the development of the first 1 MW of the Sotenäs Wave Energy Plant on the Swedish West Coast was taken this weekend in that the 120 ton subsea generator switchgear was deployed and connected to the Swedish National Grid via a 10 km subsea cable. A number of Wave Energy Converters (generators) were also connected to the subsea switchgear and the wave park will consequently go live as soon as the buoys (point absorbers) are connected to the generators.

Vagkraftanlaggningen vid Sotenas natansluten

“This grid connection of a subsea generator switchgear represents a World first”, says Prof. Mats Leijon, Seabased CEO. “We are very happy to have reached this milestone and I wish to thank all our employees and our business partners for their efforts and their support all along the way”, says Mats Leijon. For Seabased, several other projects utilizing this globally patented concept are already in the pipeline.

The Sotenäs Wave Power Plant is financed by Fortum, the Swedish Energy Authority and Seabased. Research and Development within Seabased is carried out in close cooperation with researchers at the Centre for Electric Renewable Energy Conversion at the Ångström Laboratory, Uppsala University. The deployment subsea was done in cooperation with Cecon Contracting AS, Norway.

Visit from The Swedish Parliament

A group of Liberal Party (FP) politicians led by Erik Ullenhag, former Group leader for the Liberal Party (FP) in the Swedish Riksdag (Parliament), visited Seabased Industry AB in Lysekil on November 16th, 2015. Also representatives of several local Boards and Committees participated. The Liberal Party is carrying out company visits throughout the Country in order to inform themselves regarding new innovative technologies and where the potential exists for the creation of new job opportunities.
It is a great strength for Sweden to have available World leading competence in the research and development of wave power, the visitors underlined during the factory tour. “We must find carbondioxide free energy technologies. Nuclear energy is part of the solution, but we must study all possibilities and there wind power, wave power and solar PV will provide important alternatives when it comes to renewable energy.
For Seabased it is very gratifying to see the large interest that exists for wave energy and at the same time very valuable to get this kind of opportunities to inform about the possibilities offered by wave energy as one of the most promising renewable energy sources.

Wave energy plant for the Andaman Islands

The Seabased wave energy technology is attracting increasing attention around the World and not in the least for island applications, where wave power can competitively replace diesel generation.

One such example is the Andaman and Nicobar Islands, in the Indian Ocean, where a wave energy plant is now being planned. A Memorandum of Understanding has been signed between Seabased and Seafaradays Energy Pte Ltd, a New Delhi-based energy project developer.

The Seabased concept is highly modular and, hence, the wave energy plant is planned to be established in steps, with a first stage of 1 MW followed by an expansion to, ultimately, 30 MW.

The agreement between Seabased and Seafaradays Energy Pte Ltd also covers cooperation regarding offshore installation engineering and services in the international market.

Information regarding the half-year accounts for Seabased AB

Seabased AB (publ.) has today provided the following information regarding the first half-year accounts;
The work to complete the projects under execution is in focus, while at the same time the marketing efforts have been intensified. Cost reductions, production engineering and an adaptation of the organization to better correspond to the operational requirements have dominated the last half year’s work.
Turnover for the Seabased Group during the first half year was 28 MSEK and EBITDA 565 kSEK (minus 264 kSEK after financial items).

Replacement of export cable at Sotenäs, Sweden

Fortum and Seabased Industry have agreed to replace an export cable at the demonstration wave power plant off the coast of Smögen, Sotenäs community, in western Sweden.

The cable is inappropriate. Several insulation failures have occurred during connection of the plant this summer. Therefore a new cable has been purchased.

The decision to replace the inappropriate cable was taken by consensus between the customer Fortum and Seabased Industry. Negotiations with marine contractors for cable deployment is on going.

The year 2014

Mats Leijon was appointed as CEO in mid-2014 following the departure of Billy Johansson. The second half of 2014 witnessed many changes in Seabased and its subsidiaries and these changes have continued into 2015. The focus for the management and board has been to set the company on a firmer financial footing.
· Turnover of the Seabased Group has since increased by 66 % to 80 MSEK, up from 53 MSEK in the previous 12 months;
· EBITDA showed a profit of 3.5 MSEK, compared to a loss of 6.7 MSEK in the previous year.
 
A new corporate structure, management team and reporting lines were put in place to promote marketing and sales, improve processes and better support both employees and customers.
 
The company was restructured around four new divisions:

· Administration
· Production
· Technology
· Projects
 
Administration and Production are based in Lysekil while Technology and Projects are managed out of both Uppsala and Lysekil.
 
A new subsidiary, Seabased Africa AB, was also incorporated.
 
Production
New work flows were established in the 3,600 sq.m. factory at Lysekil to allow the end-to-end manufacture of WECs (Wave Energy Converters), buoys and LVMSs (Low Voltage Marine Substations). This included the commissioning in Q3 2014 of the facility for buoy manufacturing, blastering and painting. A complete quality control system for WEC manufacturing was also implemented for the first time.
 
By October 2014, factory output had increased to 4 to 5 WECs per week.
 
Current Orders
The first production of third generation WECs and LVMSs was completed for Fortum for the Sotenäs project. Seabased provided Fortum with design and permitting services, the equipment, managed the deployment and continues to provide on-going support. The equipment included 34 WECs, 1 LVMS, 12kV and 52kV cables, a SCADA system, a grid connection point, sea marking equipment and a wave measuring device.
 
New Orders 2014
In October 2014, Seabased signed an initial contract with TC’s Energy of Ghana valued at US$2.2m. In November 2014, a further contract was signed, subject to financing, for a 14MW wave power plant. The first order was shipped in containers from Lysekil to Ada, Ghana and final assembly of the WECs was successfully completed on site.
 
Customer and Stakeholder Engagement
Seabased now welcomes an increasing number of stakeholder and customer visits to its facility in Lysekil. Indeed, it actively encourages every shareholder to visit the factory at least once a year.
 
This new openness has helped to steadily increase interest in Seabased from commercial wave energy developers, many from outside Sweden. Fifteen different projects are being explored at present and the company is actively engaged in "Power Africa" and Business Sweden as well as with financial institutions such as the EIB and SEK/EKN to facilitate further export orders.
 
Technology
Seabased has continued to solidify its competitive position by securing 29 new patent approvals. In total, the company now has around 20 registered patent families to protect its unique system.
Customer demand for continuous improvement in products and processes will continue to drive innovation within the company. This has already contributed significantly to changes to the S and S2 series WECs, delivering increased performance and reduced production times.
A completely new LV (low voltage) switchgear has been developed and delivered to Ghana. The new version has significantly reduced the cost and increased the reliability of the LVMS units. The new LVMS is also easier and less costly to install.
 
Order Pipeline
Work continues on the order for Ghana and, separately, another trial order for two test units was received in January 2015.
A number of large orders are expected to be confirmed during Q3 and Q4, 2015. Examples include Wave Hub in Cornwall, UK (10MW) for which an MOU has already been signed and permits have already been secured. An opportunity is also being explored in the Isles of Scilly (5MW) and the company is working through similar enquiries in several other markets.
 
Fundraising
To fund further investment in systems, processes and technology as well as in its marketing and sales functions and to provide additional working capital, the Seabased Board is recommending one or more new shares issues in order to raise approximately US$30m in additional funding.

Sea operations - launching of generators & buoys

Seabased Industry AB has created, in collaboration with TC's Energy, Africa's first wave power plant south of Ada, Ghana. The onshore grid connected switchgear was installed one week ago and the first phase of the wave power park was connected on the 8th of May 2015. Comprising 6 wave energy converters and switchgear, this is the first phase of what will ultimately be a 14MW wave energy park.

 

Information meeting for the Shareholders of Seabased

Seabased Industry AB warmly welcomes shareholders of Seabased and Aktiespararna's local organizations in Vänersborg, Trollhättan and Uddevalla to a information meeting at the factory in Lysekil on Monday the 4th of May, 2015, 1.30 PM.
CEO Mats Leijon will be presenting the company's organization, current activities, future plans and how Seabased stocks can be bought and sold.

Place of meeting:

"Norra hamnen"
Verkstadsgatan 4
453 30 Lysekil

Press release from Wave Hub

 

Simply Blue Energy announce Wave of the Future

Generating electricity from wave movement has long been considered a hugely sustainable method of gathering energy from the earth’s surface. The problem has been harnessing that energy. Many have tried, and most have failed, but one entrepreneurial Swedish company, Seabased Industry AB, appears to have now met the challenge.

This explains the high levels of interest in the ongoing deployment of an active Wave Energy Park northwest of Smögen in Sweden using the Seabased technology. The project is being developed in conjunction with Finnish Utility Fortum as well as with ongoing support from the Swedish Energy Agency.

Seabased is deploying 36 Wave Energy Converters (WECs) and a substation. Initially delayed by poor weather conditions, the deployment is now proceeding apace with 21 Wave Energy Converters installed on Tuesday and Wednesday, March 24th and 25th.


Wave Energy Converter Deployment

Established in 2001 in south-west Sweden, Seabased technology exploits proven linear generation concepts to extract energy from wave movement. Seabased CEO, Mats Leijon, highlighted the importance of this week’s developments, saying: “Passing this milestone is great news for the wave energy industry globally, proving the commercial potential of Wave Energy Harvesting.”

The deployment is being closely watched by those interested in alternative energy solutions in the UK as Simply Blue Energy is aiming to initiate the UK’s first Wave Energy Park at the Wave Hub facility off the coast of Cornwall. A contract has now been signed between Simply Blue Energy and Wave Hub Ltd to enable this project to progress. As an early adopter of such pioneering technologies and a strong advocate of alternative energy projects, the UK was an obvious location in which to deploy such ground-breaking technology.

                                                                                                      Wave Energy Converters on Board

Wave Hub, a power research project 10 miles off Hayle on the north coast of Cornwall, is the world’s largest and most technologically advanced site for the development of an offshore wave energy array. The hub is essentially a ‘socket’ into which Wave Energy Converters can be plugged. It provides a grid connected infrastructure to bring the electricity ashore with up to 48MW export capacity and it is home to one of the best wave climates in Europe for such projects.

On the completion of Simply Blue Energy’s project, estimated for early 2017, around 200 Seabased generators will be located at the Wave Hub facility, providing a 10MW installed generating capacity. This will make it the largest Wave Energy Park in the world.

Irish Company, Simply Blue Energy Ltd. was founded in 2011 by Sam Roch-Perks and Hugh Kelly to develop Wave Energy Parks using Seabased technology in the UK and Ireland and, ultimately, in other locations worldwide. The construction of this 10MW facility off Cornwall is its first such project.

Sam Roch-Perks, CEO of Simply Blue Energy Ltd said: “The successful deployment at Smögen justifies the confidence that we have shown in Seabased technology and in wave energy generally. We are looking forward to working closely with the Wave Hub team to create the UK’s first, and the world’s largest, commercial wave farm off the coast of Cornwall. This will only encourage further investment in the sector”.

Stuart Herbert, Commercial Director of Wave Hub Ltd, also welcomed the announcement commenting: “We have been very impressed by Seabased’s technology and Simply Blue’s vision. We are looking forward to working closely with both companies to enable their plans for a Cornwall Wave Energy Park at Wave Hub to be realised.”

Extra Editorial Information:

Generators installed at a wave facility are connected to low voltage marine substations (LVMS) in groups of 40 units, requiring 5 LVMS for a project such as that being implemented by Simply Blue in Wave Hub. The LVMS convert variable frequency outputs from the generator to DC and then to 50Hz AC. The output of the LVMS is summed together at a single Medium Voltage Marine Substation which steps up the voltage for transmission to shore.

Seabased Industry AB aims to be a leader in the field of sustainable energy technologies. It currently employs over 40 people at its factory in Lysekil, south-western Sweden, with plans to increase this significantly. Through the development of innovative and cost-effective solutions for renewable and sustainable electricity generation, it aims to create long-term value for its customers, shareholders, employees and partners alike. It also wishes to contribute materially to a greener environment.

For further information please contact:

Hugh Kelly, COO & Director, Tel: 00353 86 822 7899

Sam Roche Perks, CEO & Director, Tel: 00353 86 246 9345

Eilís FitzGerald, 00353 86 604 4905 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

Seabased Industry AB launches its first wave power park

Seabased Industry AB in cooperation with Fortum and the Swedish Energy Agency is developing its first wave power park, northwest of Smögen on the Swedish West coast. The first phase of the wave power park was deployed during the week commencing 23rd March 2015 and comprises 36 wave energy convertors and one substation.
The deployment has been delayed due to inclement weather, but is now in full swing, which means that production at the factory in Lysekil is proceeding according to plan.

 

This wave power park has been planned since many years and naturally it is very exciting to see it physically taking shape, says Heli Antila, CTO at Fortum. Wave power has the potential in the future to contribute with stable, emission-free electricity production, and so will be a valuable contributor to a Power system with a large share variable production. We believe in wave power’s role in the renewable economy of the future, Heli Antila continues.

Seabased Industry AB develops systems for extracting energy from ocean waves and the company has the ambition to be a leader in the field of sustainable energy technologies. Through innovative and cost effective solutions for renewable electricity generation, Seabased strives to create long-term value for its customers, partners, shareholders and society.

For more information contact

Seabased Industry AB: Mats Leijon 070 425 0923

Status in Sotenäs

The weather has been unusually challenging with high waves on the Swedish west coast this winter. During January and February we only got one short slot with waves below 2 meters. On February 2, we deployed one generator. This was the twelfth generator in the Sotenäs wave park. The installation was made with the new launchpad developed by Seabased and verified by Swedish authorities. In addition, Seabased's underwater substation, the Low Voltage Marine Substation (LVMS), has been submerged at the factory dock since the end of October 2014. Tests have been performed on it with good results according to plan. 

 

Seabased in Ghana!

The work has now started in Ghana with the assembly and installation of generators and switchgear equipment for the first 400kW-park. The assembly of the generators are proceeding well and all six of them will be ready for testing within a few weeks.

  

Information to our suppliers

In order to improve the effectiveness of our organization we are during February transferring our administration and finance departments to our production facility in Lysekil.

The transfer implies a new invoice address: Seabased Industry AB
Verkstadsgatan 4
"accounts payable"
SE-453 30 Lysekil
SWEDEN

Invoices and related information may still be sent by e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it.

The phone number will henceforth be +46 (0)18 504 810.

Contract signed between TC’s Energy of Ghana and Seabased

On Thursday a contract for a large wave energy plant in Ghana was signed between TC’s Energy of Ghana and Seabased in Uppsala. The contract comprises 14 MW of generation at an amount exceeding 50 million USD. Seabased will apply to EKN for insurance of the payment risk. The wave power plant is the first step in a facility that when completed is expected to reach 1 000 MW. The Contract was on behalf of Seabased signed by Hans Bernhoff, Chairman, and Mats Leijon, President and on behalf of TC´s Energy by Anthony Opoku, Executive Chairman.

Shareholders day in Lysekil

2014-10-22 Seabased hereby invite you to a shareholders day on Thursday, October 30 at 14:00 in Seabased production facility in North Harbour in Lysekil.

Please register to This email address is being protected from spambots. You need JavaScript enabled to view it. no later than 28/10.

Welcome!

 

Mats Leijon take over as President and CEO

2014-10-09 As announced during the AGM in June, Mats Leijon will as per September 5th take over the roles as Managing Director of Seabased Industry AB and President and CEO of the Seabased Group, thereby succeeding Billy Johansson. At the same time, Mats will also resign as Chairman of the Board of both companies, being succeeded in these roles by Hans Bernhoff.

Billy Johansson, who this summer turned 67, has been Managing Director of Seabased Industry AB most of the time since its inception and President and CEO of the Seabased Group since 2005. Billy has asked to be relieved of his duties also on the Board of Seabased AB, but he will assist the Board and the President also onwards.

Billy has over the years developed Seabased from a small organization to what is today a company with more than 60 employees and its own manufacturing facilities in Lysekil, and he has been one among very few who have successfully built new Swedish industry in the 21st century, says Mats Leijon.

Mats Leijon has most recently held a professorship in Applied Physics at Uppsala University, as well as being Dean of Engineering there. However, Mats also has a background from the industry and held during some 13 years a variety of senior positions within ABB. Mats has also been Chairman of the Board of Seabased since the company was formed in 2001.

Mats commenting on his new role:

- It will be interesting and different, customer interest in wave power in general and in particular in the Seabased system has during the last year increased significantly from many parts of the world. There have been a lot of trips for me and I don’t think I have travelled as much as this since I left ABB.

Mats has already achieved results; a first contract as well as an extension order has already been received from Ghana and more “is in the pipeline”.

- Consequently, we need to immediately make adjustments in our organization; more people have to be empowered in their roles in order for us to be able to handle the increase in business volumes and production, he says.

 

Project Ghana

2014-08-22 On Friday evening the first contract was signed regarding a large wave energy plant in Ghana. The scope of work is a first smaller plant that will be part of agreements giving a total plant of 1000 MW. The Chairman of Seabased Mats Leijon has made the preparation for this co-operation through visit in Ghana and discussion with TC´s Energy. The Contract was signed on Friday by Seabaseds CEO Billy Johansson and TC´s Energy Exe. Chairman Anthony Opoku.

Updates for the Sotenäs project

2014-08-13 In early July 2014 Seabased launched the first ten WECs outside Smögen/Kungshamn. The surgery took two days and the generators are located in the southeastern part of the park. In the next few months, a further thirty units is to be launched and anchored with buoys. The units will then be connected to a substation and the land cable.

Loading of Seabased generator

2014-06-19 Seabased is now loading our ten first generators to be launched in our wave power park in the end of June.

Finished WECs for the Sotenäs Wave Power project

2014-04-15 Several units have now passed FAT (Factory Acceptance Test) and will be stored close to our factory waiting for the next phase –deployment.

New possibility to buy shares in Seabased AB (publ.)

2014-04-08 We have understood that many existing shareholders in Seabased AB (publ.) did not get the information about the favourable possibility to buy shares. It has therefore been decided that those who did not use this opportunity will get a new possibility to buy a limited number of shares almost as favourable as the December-opportunity. This possibility will exist up to a couple of weeks before the Annual Meeting of Shareholders, late April or early May this year.

If you have not used the opportunity then you can send an email to This email address is being protected from spambots. You need JavaScript enabled to view it. with your name and email address to get more information.

For you that is still not a shareholder we also extend a possibility to buy shares in the company. Just send your email address to This email address is being protected from spambots. You need JavaScript enabled to view it. to ask for further information.

Change in energy situation, Europe will increase investments in wave energy

2014-03-27 It has been understood by many people that the energy situation can change drastically in Europe due to the development of the problem between Ukraine and Russia. Investments in wave energy will most probably get a high priority. To avoid that questions about the possibility to acquire shares in Seabased AB are not answered in time, we would like to inform that it is possible to acquire shares up to the annual meeting of shareholders that is planned to be held in second half of April or early May. The reason is that Seabased is planning to build a new factory.

If you are interested in acquiring shares please send a request to This email address is being protected from spambots. You need JavaScript enabled to view it. and we will try to give you an offer.

EU will prioritize Ocean Energy

2014-01-20 EU has now announced that Ocean Energy will get a high priority. Wave energy as well as currents in form of, as an example tidal power, are of highest interest. Seabased is in the forefront of developing wave energy with construction of the largest wave energy plant of the world off the Swedish west coast. See also link http://www.bbc.co.uk/democracylive/europe-25811785

Merry Christmas & Happy New Year

2013-12-23 Seabased wishing you a Merry Christmas and a Happy New Year. We look forward to an exciting 2014.

Information on a new issue in Seabased AB (publ.)

2013-12-02 Seabased AB (publ.) has today sent a special offer to all its shareholders to give them a possibility to increase their number of shares in the new issue of shares that has been decided. If you are a shareholder and has not received the offer it is most probably so that we do not have your current email address. If you are interested to get the offer then please send name, email address and the request for information to This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.

Maybe you are not a shareholder today, but would like to get an offer to buy shares, then send your contact information to This email address is being protected from spambots. You need JavaScript enabled to view it.">This email address is being protected from spambots. You need JavaScript enabled to view it.

New Website

2013-11-01 Seabasd is launching a new website in november.

The Crown Princess visits Uppsala

2013-10-11 The Swedish Crown Princess Victoria's commitment to environmental issues shone through when she visited Uppsala on the 11th of October. The Crown Princess ended her visit at the wave power research in Ångström Laboratory, where Billy Johansson, CEO of Seabased, gave a presentation of operations. To read more: The Crown Princess visits Uppsala

 

 

 

 

 

 

 

 

 

 

 

 

Seabased starts building of the world's largest wave power plant

2013-05-10 In May 2013 the actual deployment of the world's largest wave power farm, about 5 miles northwest of Smögen in Sotenäs municipality begun.

The first work, the laying of a 10 km long submarine cable is now completed. The starting and landing-point is Roparebacken in Kungshamn and extended out to the upcoming wave power plant.The work went smoothly and was completed during the night of May 10th.

The Wave power plant is built in corporation between Seabased and Fortum, with financial support from the Swedish Energy Agency. The laying process of the submarine cable was carried out by Baltic Offshore.