World-leading technology from Norway turns into Smart Ocean

(Grimstad, June 15, 2023) The Norwegian ocean-tech company Innomar Ocean Technology changes its name to Smart Ocean AS and begins the deployment of its world-leading technology and smart buoys. The technology has been developed in collaboration with Norwegian fishing companies and helps reduce environmental risk and prevents the loss of fishing gear.

The new name reflects that the company’s IoT and data solutions are smart and that the focus is on the ocean, with all its challenges, where Smart Ocean can truly make a difference.

Along with the name change, Smart Ocean is launching the next generation of its smart buoy, SMART OCEAN BUOY Coastal Edition II, featuring advanced tracking and monitoring technology for fishing gear and the digitalization of fishing and aquaculture. The new buoy provides highly precise localization using GPS and is designed to withstand harsh conditions.

“Our technology helps fishermen save costs in terms of lost gear, reduced fuel consumption and emissions, and also prevents marine pollution. The Norwegian fishing industry is highly environmentally conscious and has contributed to the development of Smart Ocean’s technology through pilot projects. We aim to build smart solutions for the ocean and all the people who depend on it,” says Tore Halvorsen, CEO of Smart Ocean.

The company from Grimstad, Norway has secured funding from renowned international technology investors. Investment company Ocean Impact AB has taken a leading role, and the European Innovation Council Fund has also become a shareholder.

“Our oceans’ health is the greatest challenge and opportunity of our time. It is inspiring to see Nordic companies like Smart Ocean AS, with world-leading technology, entrepreneurial leadership, and a strong commitment to marine industries, take the lead,” says Robin Ramm-Ericson, partner and founder of Ocean Impact AB.

In January this year, Smart Ocean entered into a memorandum of understanding with the European fisheries organization Europêche, which represents 80,000 fishermen within the EU, around 45,000 fishing vessels, and 16 member associations from 10 European countries.

The collaboration aims to explore new ways to ensure sustainable fishing within the EU using Smart Ocean’s technology and systems. This will create new business opportunities for fishermen and the fishing industry, enable fishers to harvest fish of higher quality, and continue to protect marine ecosystems. Smart Ocean’s precision fishing technology opens new business opportunities and facilitates coexistence between fishermen and offshore wind farms.