Sweden’s CorPower Ocean announces the addition of Acario (Tokyo Gas) and GTT Strategic Ventures as investors in its Series B financing round. This backing is a boost for the commercial deployment of its wave power generation technology.
Acario and GTT Group the new wave energy partners
The venture capital division of Tokyo Gass Silicon Valley-based venture capital arm, Acario, brings a vision focused on decarbonization and innovation in energy systems. Its participation also enhances Tokyo Gas ‘ commitment to a sustainable, diversified matrix focused on clean energy solutions.
GTT Strategic Ventures, an investment backer of the French GTT group specialized in cryogenic technologies and solutions for the transport of liquefied gases, adds its industrial know-how and scalability to CorPower Ocean’s vision. Both entities strengthen a strategic support network that includes NordicNinja VC, SEB Greentech, InnoEnergy, Cisco Investments, Santander Asset Management and Iberis Capital.
We are pleased to welcome GTT and Tokyo Gas through Acario as shareholders. They bring significant engineering and industrial scaling expertise, and we look forward to their support in making wave power a mainstream energy source.
The potential to co-locate CorPack’s wave farms with offshore wind and solar facilities around the world to enable 24/7 clean energy is a great opportunity that we are excited to develop together with strong partners.
Patrik Möller, CEO and co-founder of CorPower Ocean.
The wave energy is a strategic source in regions where ocean conditions allow stable generation. Some recent studies show that the integration minimizes the need for storage and grid, compared to solar or wind configurations, optimizing costs and efficiency.
This endorsement by Tokyo Gas and GTT comes at a time when governments such as that of the United Kingdom have initiated resource mobilization to explore offshore potential. Among the most noteworthy initiatives, the Marine Energy Task Force is seeking to activate up to 25 GW of wave power in the coming decades.
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Source and photo: CorPower Ocean
