OceanWell Competes in Largest Ever Prize Competition - XPRIZE's $119m Water Scarcity Challenge with Deep Sea Alternative to Desalination Technology

This comes as the water tech company marks a milestone year with new funding and selection for the European Water Tech Accelerator

MENLO PARK, Calif., Dec. 10, 2024 /PRNewswire/ -- OceanWell, a water technology company, will participate in XPRIZE Water Scarcity, a global competition designed to drive widespread access to clean water. OceanWell's next-generation deep sea technology aims to deliver scalable freshwater solutions while protecting marine life and slashing energy consumption.

With much of the United States facing drought conditions and global water demand projected to exceed supply by 40% by 2030, the need for sustainable alternatives is urgent. While traditional desalination plants help address water scarcity, their high energy use, high-costs and threat to marine life present significant challenges.

The XPRIZE Water Scarcity challenge seeks pioneering solutions to these global water shortages. OceanWell's modular deep-sea water farms are made up of pods that operate on the ocean floor at depths of 400 meters, harnessing natural hydrostatic pressure to power the reverse osmosis process. This eliminates the need for energy-intensive pumping systems and reduces energy consumption by up to 40% compared to traditional methods.

"We are committed to delivering utility-scale, reliable, and sustainable freshwater solutions that address water scarcity while preserving our planet's marine ecosystems," said Robert Bergstrom, Founder and CEO of OceanWell. "Competing in the XPRIZE Water Scarcity Challenge is an incredible opportunity to showcase our technology's potential to transform water access worldwide."

OceanWell's approach aligns with XPRIZE goals as it redefines desalination by eliminating the need for costly, large-scale coastal facilities. Its modular pods can be deployed directly on the ocean floor, offering a decentralized, adaptable model that can scale to meet varying water demands. This adaptability makes it particularly suited for low- and middle-income regions where affordability and sustainability are critical.

The technology also addresses ecological concerns associated with traditional desalination. By returning a low-concentration brine discharge near the ocean floor, OceanWell ensures rapid dissipation and minimal disruption to marine ecosystems. The system's design ensures no marine life mortality during operation, setting a new standard for environmentally friendly water solutions.

OceanWell's entry in the XPRIZE competition caps off a year of milestones for the company.  In November, OceanWell closed an $11 million Series A funding round to scale its operations, supporting its pilot project in California—a state grappling with years of record-breaking drought. It was also chosen to participate in the prestigious European Water Tech Accelerator (EWTA), a six-month program designed to prepare water technology innovators for market entry in Europe, as well as BCG X's Social Impact Accelerator Program.

About OceanWell
OceanWell has redesigned desalination to a clean, elegant solution for affordable, abundant, fresh water. Our modular deep sea water farm technology uses hydrostatic ocean pressure at depths of 400m+ to naturally power a reverse osmosis process and make fresh water.  We do this with vastly improved energy efficiency, no marine life mortality, no onshore plant, and only a benign brine outfall.  This eliminates the legacy technology burdens of high energy use, ecological impact, and a large industrial onshore facility. To learn more, visit oceanwellwater.com

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SOURCE OceanWell