Core Insights - The desalination industry is gaining attention due to increasing water scarcity, with Flocean making significant advancements in subsea desalination technology [3][5][6] - Flocean has partnered with the Alver municipality in Norway to explore integrating its subsea desalination system into the local water supply [9] - The company has successfully extended its Series A fundraising, raising over $13 million, which indicates strong investor confidence [10][11] Company Developments - Flocean's pilot project has been operational for a year, with plans to increase output to one million liters per day next year [9] - The company is recognized as a leader in subsea desalination, being named one of Time Magazine's Best Inventions of 2025 [8] - A strategic investment from Xylem, a global water technology leader, enhances Flocean's potential for scaling its technology [12][15] Industry Context - A Bank of America report indicates that freshwater demand is 1.7 times greater than supply, with 57% of the world's aquifers at critical depletion [5][6] - The demand for innovative water solutions is rising due to industrial needs and urbanization, presenting opportunities for companies like Flocean [6] - Subsea desalination is positioned as a more environmentally friendly alternative to traditional desalination methods, with lower energy consumption and reduced ecological impact [7]

Core Insights - Flocean, a Norwegian subsea desalination company, has been recognized as a TIME Best Invention of 2025 [1] - The company has extended its total Series A funding to $22.5 million (NOK 228 million) [1] - Xylem Inc. has joined as a strategic investor in this funding round, alongside existing investors and new investors [1] Funding Details - The Series A funding extension amounts to $22.5 million (NOK 228 million) [1] - New strategic investor Xylem Inc. (NYSE: XYL) has been added to the list of backers [1] - Existing investors include Burnt Island Ventures, Freebird Capital, Katapult Ocean, and Nysnø Climate Investments, with new investors such as Ari Emanuel, Orion, Rypples, and Wellers Impact's Water Unite Impact Fund [1]