The company was founded in 2001 and was originally an innovation and patent holding company closely associated with the research being done at the Swedish Centre for Renewable Electric Energy Conversion at the Angstrom Laboratory, Uppsala University. They lead the world in generator design and the research is directed by Professor Mats Leijon who together with Associate Professor Hans Bernhoff are the founders and majority owners of the company. The Company’s strategy is to develop into a system supplier of turnkey wave energy parks, including pre studies, permits and maintenance services. This will be enabled through, geographically well-situated mass production systems in key markets to ensure high quality and low cost. Seabased has assessed that it is critical to begin series production in Sweden and initially produce as many parts as possible in their own factories. When Seabased has gained experience from the production process in Sweden several other places worldwide will be used for series production. Production plants are planned for in the UAE and UK in 2015 serving the Middle East and Western Europe markets, Japan in 2016 serving the Asian markets and the US in 2017-2019.