Flocean and WaterConnect today announced the signing of a development agreement to jointly prepare and structure a first-of-its-kind subsea desalination project in the Maldives, to deliver sustainable, energy-efficient water supply to Malé and Hulhumalé.

The partnership will pair WaterConnect’s catalytic, impact-driven financing capabilities with Flocean’s pioneering subsea desalination system, creating an investment-ready project that will improve the reliability of water supply while reducing the total cost of water for the two Maldivian islands. By locating desalination infrastructure underwater, Flocean’s system harnesses natural ocean pressure to reduce energy consumption by approximately 40%, while minimizing onshore footprint, and limiting brine discharge and related environmental impacts.

The project will be developed in close coordination with the Malé Water and Sewerage Company (MWSC) and is anchored in a Memorandum of Understanding (MOU) signed between MWSC and Flocean. The first stage of the collaboration is a feasibility study, aimed at providing MWSC with the data and analysis required to evaluate the project and determine the optimal path forward, including business model and technical solution. The partnership aims to support MWSC delivering reliable, high-quality, and cost-competitive water to the households and businesses in Malé and Hulhumalé.

“We are excited to partner with WaterConnect to develop a subsea desalination project tailored to the Maldives’ needs,” said Alexander Fuglesang, Founder  CEO of Flocean. “WaterConnect catalyses investments in resilient water projects and with their financial network and strong focus on sustainability, they are a great long-term partner for us when scaling our technology to support water security in land-constrained, water-stressed island environments.”

“This partnership is about turning breakthrough technology into bankable, real-world infrastructure by bringing the right capabilities and financing together,” said John Moyer, President of WaterConnect. “Flocean’s subsea desalination offers a compelling low-energy alternative and reduced environmental impacts, and WaterConnect is excited to co-develop projects like this toward investment readiness and enhanced water security.”

The Maldives faces high water stress and growing supply challenges driven by limited freshwater availability, land constraints, and sea level rise. By combining Flocean’s technological innovation with WaterConnect’s early-stage project development and financing approach, the project aims to support long-term water supply resilience while demonstrating a replicable investment model suitable for projects in similar geographies.