CorPower Ocean

The European Investment Bank (EIB) is highlighting CorPower Ocean as an ‘innovative solution that could revolutionise the renewable energy landscape’. The EIB is providing us with a variety of support including advisory assistance for capital structuring, preparation of fundraising materials, and development of financial models to facilitate fundraising. According to the EIB, CorPower Ocean’s project stands out for its ability to provide a continuous and reliable energy supply, leveraging the natural and consistent movement of ocean waves. Read more in the post below about our cutting-edge wave energy initiative in Portugal and our mission to power the planet with clean energy from ocean waves.

The Power of Survivability. Historically, many wave energy devices have broken in storms or became too large and costly compared to their power output, which has prevented commercial adoption. This is a picture that CorPower Ocean has dramatically changed by bringing new innovations to wave energy. Over the years, we’ve introduced technology that make devices naturally protected in storms and use phase control technology that strongly amplifies power capture in regular waves. The C4’s unique Survival Mode feature adopts a frequency detuning principle. In big storm waves, the C4 displays very limited heave motion in response to incoming waves. As the waves engulf the buoy, the structural loads saturate, resulting in only marginal increases in load levels compared to regular operational conditions. The survival mode is the natural state of the machine, making it a passive fault-tolerant protection feature. This detuned state creates transparency to incoming waves, similar to the survival function for wind turbines that pitch their blades to protect from over loading. We are proving how these innovations make wave energy both robust and competitive – delivering more than 5 times as much energy for the amount of equipment required, compared to previous state-of-the-art. #WaveEnergy #OceanEnergy #Renewables #OffshoreEngineering

CorPower Ocean is partnering with SwitcH2 Offshore to deliver a unique industrial scale floating green ammonia production facility partially powered by wave energy. With backing from Norway-based BW Offshore and Dutch Oceans Capital, SwitcH2 is leading the development of industrial-scale offshore green hydrogen and green ammonia production units based on proven FPSO (floating production, storage, and offloading) technologies. The concept, which sees electrolysers powered by a mix of renewables including wind and solar, will now incorporate wave energy to ensure a greater balance of green electricity. Supported by grant funding from the Dutch Government’s GroenvermogenNL TSE (Top Sector Energie) scheme, SwitcH2 is aiming to launch a new open-sea project in northern Portugal utilizing CorPower Ocean’s wave energy technology. CorPower Ocean Commercial Director Kevin Rebenius said: “Wave energy is one of the largest untapped energy source in the world. It’s renewable, accessible, and abundant. Crucially, it’s also highly consistent bringing greater stability to the clean energy mix, enabling 24/7 renewable electricity supply allowing industrial processes like this to run at high utilization. We look forward to working with fellow tech pioneer SwitcH2 with a shared vision for a cleaner, brighter future powered by renewables.” Read more: https://lnkd.in/d5q-NUCi #WaveEnergy #OceanEnergy #GreenHydrogen #GreenAmmonia #OffshoreEnergy #Renewables

We enjoyed speaking with Lydia Chen at The Drop conference in Sweden for the @Bite-Size Climate Tech podcast. Listen to the full interview here https://lnkd.in/esBju3x6 to learn more about our mission to power the planet with clean electricity from ocean waves. #WaveEnergy #RenewableEnergy #Sustainability #ClimateTech #OceanPower

Learn more about Cisco's latest investment in CorPower Ocean as part of its ambitious environmental sustainability strategy, the "Plan for Possible" - https://lnkd.in/e3VcrsfS In an era where data centers and AI are driving higher power needs, the demand for reliable and continuous energy sources is more critical than ever. Data centers, which power the backbone of our digital world, consume more than 1% of the world’s electricity, according to the International Energy Agency (IEA). AI applications, with their intensive requirements, further amplify this demand. Ensuring a steady and more sustainable energy supply is essential to support these technologies and reduce their environmental impact. "Wave energy has the ability to deliver a very consistent power profile. You add wave together with a mix of wind and solar, you can get much closer to 24/7 supply." Patrik Möller, co-founder and CEO of CorPower Ocean. "This is where CorPower's opportunity lies. By integrating wave energy into the renewable mix, we can overcome the limitations of solar and wind power, moving closer to a future where clean energy is available around the clock." - Jon Koplin Managing Director at Cisco Investments. Cisco is aiming to reach net zero greenhouse gas emissions across its value chain by 2040. Increasing use of renewable energy and supporting the global transition to clean energy is critical to addressing this goal. More on CorPower Ocean's recent EUR 32m investment round led by NordicNinja VC, SEB Greentech and EIT InnoEnergy in consortium with Santander Alternative Investments, Iberis Capital and Cisco Investments - https://lnkd.in/dRcjPPxQ #WaveEnergy #OceanEnergy #DataCentres #AI #EnergyTransition #Renewables

"Our mission is to power the planet with clean energy from ocean waves" - Listen to CorPower Ocean's CEO Patrik Möller on the latest ESFORIN SE 'Change Makers' podcast discussing the world of ocean energy technology and its ability to power a fossil-free future.

Ocean energy: at a record high   Reflecting on two intense days at Ocean Energy Europe 2024 in Aviemore, Scotland, where developers, investors, and policy makers came together for the ocean energy sector’s largest annual event.     It is clearly an inflection point for wave and tidal technology, as commercial scale products have now been proven in both fields, and focus is shifting towards arrays, project finance and bankability. During the event, Scottish Minister for Climate Action Dr. Alasdair Allan, got the grand VR tour inside a CorPower Ocean buoy and our own Eunice Silva debated why collection hubs for arrays will be floating. Thomas Bastable of ESB presented the Saoirse project in Ireland and Patrik Möller took the stage for the ’Captains conclusions’ together with Andrew Scott of Orbital Marine Power Ltd, Guillaume Gréau of HYDROQUEST, George Keeley of UK Department for Energy Security and Net Zero and Elaine Buck of the U.S. Department of Energy (DOE). OEE CEO Rémi Gruet concluded that the confidence level of the sector is at record high. Capital access across Europe and the US is at the highest level ever, and we see how Europe despite a much longer history can learn from the US on how to allocate financing to the most competitive technologies using internationally recognised metrics. We leave Aviemore with record levels of energy.    Scottish Renewables Scottish Enterprise #Scotland #OceanEnergy #WaveEnergy #EnergyTransition

CorPower Ocean is gearing up for the Ocean Energy Europe Conference & Exhibition 2024 in Aviemore, Scotland This year’s programme will focus on the role the supply-chain and local industry will play in the road to commercialisation. A clear pipeline of deployments for the next five years, supported by both national and European public funding, is triggering investments from the private sector. Those deployments will draw on an existing local industry and supply-chain, for which Ocean Energy is becoming a new market opportunities and source of diversification. CorPower Ocean Technical Project Manager Eunice Silva joins the Debate: Surface or seabed? The best place for your sub-hub on Tuesday 05. Our CEO & OEE Co-President Patrik Möller meanwhile joins the ‘Captains Conclusions’ panel on Wed 06 to discuss ‘steering the ocean energy course’. Join members of our senior management at stand 14. Register here: https://lnkd.in/eWtdpD8r #WaveEnergy #OceanEnergy #EnergyTransition #NetZeroFuture #RenewableEnergy

CorPower Ocean is gearing up for the Ocean Energy Europe Conference & Exhibition 2024 in Aviemore, Scotland This year’s programme will focus on the role the supply-chain and local industry will play in the road to commercialisation. A clear pipeline of deployments for the next five years, supported by both national and European public funding, is triggering investments from the private sector. Those deployments will draw on an existing local industry and supply-chain, for which Ocean Energy is becoming a new market opportunities and source of diversification. CorPower Ocean Technical Project Manager Eunice Silva joins the Debate: Surface or seabed? The best place for your sub-hub on Tuesday 05. Our CEO & OEE Co-President Patrik Möller meanwhile joins the ‘Captains Conclusions’ panel on Wed 06 to discuss ‘steering the ocean energy course’. Join members of our senior management at stand 14. Register here: https://lnkd.in/eWtdpD8r #WaveEnergy #OceanEnergy #EnergyTransition #NetZeroFuture #RenewableEnergy

CorPower Ocean features in the European Investment Bank (EIB)'s “The Other Renewables’ shining a spotlight on new technologies diversifying the future energy mix. CorPower Ocean’s HiWave-5 Project forms part of an extended piece on Wave Energy - alongside Biomass and Geothermal Energy. It highlights wave energy’s ability to supplement existing wind and solar resources, providing stability to global energy systems, when the wind doesn’t blow and the sun doesn’t shine. Read more about the history of wave energy, the inspiration behind CorPower Ocean’s technology and the key advantages it offers: https://lnkd.in/dYMDvr73 “Wave energy provides power in challenging locations, bolsters local resilience, synergises with other resources like solar, wind, and energy storage, and circumvents land limitations. Projects like HiWave-5 help drive innovation, scalability and market confidence in wave energy technology.” Andrea Alessi Engineer, European Investment Bank (EIB). Thank you to EIB co-authors Tamar Shiloh Vidon Andreia Nuno and Alice Nour #RenewableEnergy #Sustainability #WaveEnergy Eavor Deutschland Teplárny Brno