Last deal

$10.8M
Local Amount - EUR 9.M

Amount

Venture - Series Unknown

Stage

03.02.2021

Date

6

all rounds

$43.M

Total amount

General

About Company
CorPower Ocean AB develops high efficiency Wave Energy Converters that offer clean and economical electricity from the ocean.

Industry

Sector :

Subsector :

Keywords :

Also Known As

CPO

founded date

01.01.2009

Number of employees

Company Type

For Profit

Last funding type

Venture - Series Unknown

IPO status

Private

Description

Their WECs deliver five times higher annual energy output per ton of device compared to previous wave power solutions, allowing them to compete with offshore wind in terms of Cost-of-Energy. Currently in pilot with Iberdrola, CorPower has assembled a team with extensive experience in energy generation, design, manufacturing, and market expertise. Their wave energy converter utilizes a heaving buoy on the surface connected to the seabed using a taut mooring line, enabling significant energy harvesting at low cost. The unique design of their wave farm solution, inspired by the pumping principles of the human heart, ensures survival even in the toughest storms. Advanced control technology optimizes power absorption by oscillating the converters in sync with incoming waves, resulting in high power output relative to equipment size, weight, and cost. With low costs, high capacity factor, and an effective maintenance scheme, CorPower's wave power technology plays a crucial role in accelerating the global transition to 100% renewables.
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