Olav is the Founder and the Chief Executive Officer (CEO) of OceanTherm. He served in the Norwegian Armed Forces at a strategic level with service from submarines. In addition to Senior Executive Courses from the Norwegian Armed Forces, Olav has a Master’s in Computer Science from the University of Bergen.
What is OceanTherm all about?
Tropical storms and hurricanes are generated when masses of hot and cold air collide above warm ocean water. The tropical storms and hurricanes obtain their energy from the ocean surface when – crucially – the surface water temperature is above 26.5 °C (80 F). Cooling the ocean surface would deprive the hurricanes of the energy source they need to grow. The water is colder deeper down and our method is to temporary mix the colder water from below with the warm surface water. This will only be done when a tropical storm or a hurricane is developing.
We often experience that people who hear about us think we work to stop a hurricane that has already reached category 3, 4 or 5 — But that is not what we are working for. We work to ensure that a tropical storm or depression does not develop into a huge hurricane, like Laura in 2020. It would be a preventive system that through surveillance and close monitoring by relevant decision makers can temporarily eliminate (or reduce) dangerous sea surface temperatures, and as a result of this reduce the likelihood that a tropical storm intensifies into a hurricane.
And by this we can contribute to a sustainable future in areas and communities exposed to hurricanes and typhoons.
Tell us a little bit about your background and how you started your company?
Oceantherm was founded in 2017 and is engaged in research and development of methods and technologies to prevent tropical storms from becoming devastating. That is our main purpose and there is no other ongoing project that we know of that aims to do this the way we envision it. We also do other kinds of work with the bubble curtain technology, like working on the global ocean plastic problem and ocean health in general.
What would you say are the top 3 skills needed to be a successful entrepreneur, and why?
Well i’m not yet successful, but I think that it is important to believe in what you are working with. Be flexible and adjust to what is possible at the time and put collaboration before competition. I want to work in an environment where we share resources and always focus on finding the best possible solutions to the challenges we face.
What are your plans for the future, how do you plan to grow this company?
We are working both in Florida and in Texas, and our plan is to start a US company in the near future and to search for funding for our research and development plan. This plan will prove the solution at scale and answer all questions raised by scientists and people in general.
This will be the foundation for governments to start to work with preventive measures against the damage and lives lost from hurricanes.
How do you separate yourself from your competitors?
Our strength lies in the process for how we work. We strive to address all questions regarding our solution with answers grounded in professional research and collaboration between Norwegian and American research institutions. We aim to develop our technology in a way that maintains the trust of the people and the local communities where we operate. We consider this as crucial in our work to contribute to a sustainable future in areas and communities exposed to hurricanes or typhoons.
CBO published an article in 2019 that states that hurricane winds and storm-related flooding are responsible for the bulk of the damage from disasters in the United States. For most types of damage caused by storm surges, heavy precipitation, or high winds from hurricanes or tropical storms, expected annual economic losses total $54 billion, CBO estimates, which is equivalent to 0.3 percent of the nation’s current gross domestic product (GDP).
Furthermore, Nextgov published an article on June 4th 2020 about a new legislation that would forbid Trump from nuking hurricanes. Rep. Sylvia Garcia, D-Texas proposed this new bill in response. In the bill, Representative Garcia also says that “increasing numbers of hurricanes are a function of climate change and must be addressed through serious and long-term solutions that include scientific research and technological innovation.”
A new report published in Nature Research Journal, finds that warmer ocean waters from climate change are likely making hurricanes lose power more slowly after landfall, because they act as a reserve fuel tank for moisture. This is another trend that strengthens the benefits of cooling the surface water as a hurricane prevention measure.
We think that language like this drives the discussion forward about funding R&D projects related to hurricane prevention. However, there are also other initiatives that greatly reduce the damage from hurricanes, such as improved forecasting, improved evacuation routines, and improved building codes. These are all initiatives that receive funding that we need to prove this at scale. We do not want to replace all these efforts. Rather, we want to be a part of the toolkit that can work together to reduce the devastating damages from hurricanes.
What were the top three mistakes you made starting your business, and what did you learn from them?
I think that we have matured with the work during the four years that we have been working. That shows that it is important to learn and adjust the plan as you learn. The interest from the media has been there all the time, and we have learned that this is a lot of work, but helps us to improve our communication. For us, it has been a good thing that we have been open about our work all the time.
What has been the most successful form of marketing for you?
As I said earlier, we have been open about our plan and the results from our research, and I think this approach is a big reason why we have attracted all of this media attention. Also, instead of being afraid of competition, we have focused on collaboration — That’s our strategy.
What have been your biggest challenges and how did you overcome them?
Our biggest challenge has been and still is funding. That is one of the biggest risks for startup companies. So far, we have been able to receive funding from private investors in Norway and from the Norwegian government, The Research Council of Norway and Innovation Norway, for our research projects. Having a research and development plan and a business innovation plan is important to be able to receive funding from government funds.
What is the one thing you wish you knew before starting your business?
If I had known more about the struggle and how much time and effort it takes, then I may not have started. So maybe it’s a good thing I didn’t know. There are so many things you don’t know about, but with the right advisors, we are able to come around and move forward.
What are the top 3 online tools and resources you’re currently using to grow your company?
We are working both in Norway and in the USA, so collaboration tools are important. Teams and e-mail. We are also using our webpage, LinkedIn, Twitter, Facebook and Instagram.
If you had the chance to start your career over again what would you do differently?
I took my education in the Norwegian Defense and had a 38-year long military career. 10 of those years were education/studies. That gave me the possibility to start a new career when I was 57, and I feel privileged for this opportunity. In our international world of today, I think that language is more important and that I should have been more focused on learning more languages and maybe also study in another country.
What is your favorite quote?
“It always seems impossible until it’s done.”
– Nelson Mandela
What’s your best piece of advice for aspiring and new entrepreneurs?
I think that the best moment to start working as an entrepreneur is when you are young and the economical commitments are low and before you have started a family. I think also that building a network is important and to seek collaborative environments, like an incubator. And you have to believe in the idea and make it your dream. If you can dream it, you can do it. (Walt Disney)
How can we get in touch with you?
The best way to get in contact with us you can find on our excellent home page, or send me an e-mail on olav@oceantherm.no
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