[La Palma, 14.12.2023] The BOOST project consortium announces the successful
completion of the BOOST floating solar demonstrator (Bringing Offshore Ocean Sun
to the global market). This pioneering initiative, partially funded by the
European Union, has achieved a significant milestone by deploying Europe's
largest ocean-based floating solar energy system. The system is located close to
the port of Tazacorte at La Palma (La Isla Bonita) and aligns with the EU's
commitment to remove barriers in implementing renewable energies, in accordance
with its Solar Energy Strategy and the incentives for self-consumption
installations.

The BOOST consortium, coordinated by Ocean Sun and comprising key partners such
as Innosea, PLOCAN, The Institute of Technology of the Canary Islands (ITC) and
Fred Olsen Renewables, celebrates the successful development and implementation
of the demonstrator with an official opening. Guests from both local authorities
at La Palma as well as Nieves Lady Barreto, Vice President of the Government of
the Canary Islands will attend the opening.
   
Successful development and implementation
The demonstrator utilizes Ocean Sun's patented floating solar photovoltaics
(FPV) technology and marks the final milestone in a comprehensive
three-year-long R&D project focused on demonstrating and validating a solution
for seawater floating PV. During the project Ocean Sun's technology has been
analysed by independent engineering firm Innosea and tested at the SINTEF Ocean
basin laboratory. Furthermore, the project has obtained a site-specific design
verification from DNV according to the Ocean Sun's design premise, confirming
the designs suitability for deployment.

Installation in Tazacorte and institutional collaboration
The final installation carried out in the port of Tazacorte, was made possible
through collaboration with ACUIPALMA and the support of institutions such as
Puertos Canarios and the Cabildo de La Palma. BOOST represents a pivotal step in
La Palma's transition to sustainable energy, promoting innovation and
sustainability. Additionally, it contributes to positioning the port of
Tazacorte as a center of innovation in port decarbonization in the Canary
Islands.

"This latest system deployed in the southernmost part of Europe serves as a
powerful demonstrator for the exploitation of the limitless solar resources at
sea. Successful operation of the special membrane solution in these waters will
pave the way for abundant supply of affordable renewable energy." says Dr. Børge
Bjørneklett, CEO and Founder of Ocean Sun

The CEO of PLOCAN, Dr. José Joaquín Hernández Brito, said: "The BOOST project in
the Canary Islands symbolizes a significant advance towards the sustainable use
of our marine and maritime resources, demonstrating how innovation and
collaboration can offer effective solutions to global challenges such as climate
change and energy transformation".


About Ocean Sun: 
By combining the Norwegian maritime expertise and knowledge within
photovoltaics, Ocean Sun has developed an innovation that offers a bold solution
to our global energy needs. The patented technology is based on solar modules
mounted on hydro-elastic membranes and offers cost and performance benefits not
seen in any other floating PV system today. With offices in Oslo, Singapore and
Shanghai, Ocean Sun aims to become the world's leading technology provider of
floating solar. 

For further details, please contact: 

Børge Bjørneklett, CEO of Ocean Sun, +47 90195778 
Karl Lawenius, CFO of Ocean Sun, +47 45633881