CorPower Ocean has raised €32 million in a Series B1 round that will boost the commercialisation of its wave energy technology. This breakthrough is essential to accelerate the transition towards a cleaner energy system based on the sustainable use of ocean waves.
Financing for CorPower Ocean wave energy
Based in Sweden, CorPower Ocean has developed a technology inspired by the pumping of the human heart, designed to capture the energy of wave motion in an efficient and cost-effective manner. The company has installed several prototypes and plans to increase production with this new injection of capital. Among the main investors leading this round are NordicNinja VC , SEB Greentech Venture Capital , Iberis Capital and EIT InnoEnergy , which has established itself as the leading investor in clean energy worldwide.
CorPower Ocean CEO Patrik Möller highlighted the importance of this funding to scale up its technology and make it a key piece in the transition to renewable energy. “ Our goal is to integrate wave energy into the global grid, complementing other sources such as solar and wind ,” he commented.
This round of financing comes at a crucial time for the renewable energy market, where decarbonisation is a priority. EIT InnoEnergy has played a vital role in the development of this technology, aligning the project with the objectives of the European Green Deal , which seeks to eliminate carbon emissions in the coming decades. In addition, investors such as SEB Greentech VC and Iberis Capital reinforce their support for technological solutions that can mitigate climate change.
With offices in Portugal, Norway and Scotland, CorPower Ocean is well positioned to expand its international presence. The wave energy market represents enormous potential to reduce carbon emissions and provide stability to electricity grids.
How wave energy technology works. Source: CorPower Ocean
Wave energy is seen as one of the most promising sources of clean electricity, as it offers a steady and predictable supply. The funding will enable CorPower Ocean to accelerate the manufacturing and deployment of its solutions at scale, consolidating its position as a leader in the ocean energy sector.
Follow us on social media and don’t miss any of our posts!
YouTube LinkedIn Facebook Instagram
Source and photo: CorPower Ocean
Loading...
