SWAY Turbine AS is a renewable energy technology company solely dedicated to develop and commercialize its 10MW gearless, light weight wind turbine. The company was demerged from Sway AS in 2010 as an independent company (without parent company). The development has been ongoing since 2005 and a number of patents have been filed to protect the new features which significantly reduce weight and cost compared to traditional turbines. The 10 MW turbine is designed for both fixed seabed and floating installations. A full scale pilot with a rotor diameter of 145 meters is planned to be installed on the Norwegian west coast close to the company base in Bergen. Concession has been granted by the Norwegian government. ENOVA, a state own fund, has committed 137million Norwegian kroner to the project.