InnoEnergy welcomes new partners supporting the next stage of CorPower’s growth
CorPower Ocean, one of InnoEnergy’s portfolio companies and a leading developer of wave energy technology, has announced the addition of two new strategic investors to its Series B funding round: Acario, the investment arm of Tokyo Gas based in Silicon Valley, and GTT Strategic Ventures, part of French engineering group GTT.
These partnerships mark a key step forward in CorPower’s efforts to scale up wave energy as a reliable and commercially viable renewable power source. As long-standing investor in CorPower, InnoEnergy is pleased to see the company strengthened by partners with strong industrial capabilities and a shared long-term view of the energy transition.
Backing to support commercial growth
The new investors join CorPower’s Series B funding round, which began with a €32 million B1 raise announced earlier. The broader investor group includes NordicNinja VC, SEB Greentech, Cisco Investments, Santander Asset Management, Iberis Capital, and InnoEnergy. Together, we bring a mix of capital, technical know-how, and international reach to help CorPower move from demonstration to commercial deployment
Patrik Möller, CEO and Co-founder of CorPower Ocean, said:
“We are delighted to welcome GTT and Tokyo Gas via Acario as shareholders. They bring significant engineering and industrial scale-up expertise, and we are looking forward to having their support in making wave energy a mainstream energy source.”
Wave energy has the potential to work alongside offshore wind and solar to provide consistent, 24/7 renewable electricity. This is a key challenge for grids moving away from fossil fuels, and one that CorPower aims to address with its modular CorPack wave energy farms.
Industrial expertise and long-term commitment
Tokyo Gas is one of Japan’s largest energy suppliers and has been investing in renewable energy for several years. Through Acario, its venture arm, it supports companies focused on decarbonisation and energy resilience.
Kenji Maeda, CEO of Acario, said:
“We are excited to join CorPower Ocean and support the goal of realising wave energy as a stable utility-scale renewable resource globally. The ocean demonstrates incredible potential to meet the world’s rapidly growing need for clean energy and energy security. CorPower Ocean is in a unique position to fulfil this opportunity by delivering high-capacity factor clean power at an affordable cost – with high reliability.”
GTT Group is known for its work in liquefied gas transport and storage, with over 60 years of engineering expertise. GTT Strategic Ventures supports technologies that complement its work in the maritime and energy industries.
Hélène Loncin, Head of GTT Strategic Ventures, said:
“We are proud to support CorPower Ocean in its mission to unlock the vast potential of wave energy. As a clean, ocean-based power source, wave energy can play a critical role in addressing key challenges of the energy transition – from ensuring the availability of green electricity to enabling local production and supporting grid balancing.”
A step forward for wave energy
Wave energy is gaining interest as a technology that can help fill the gaps left by solar Interest in wave energy is growing, especially for its ability to complement wind and solar with a more steady and predictable supply. This can reduce the need for extensive energy storage, limit costly grid upgrades, and lower the overall cost of renewable energy systems.
With over 500 GW of accessible wave energy potential worldwide, CorPower is well positioned to become a key player in this space.
InnoEnergy welcomes Acario and GTT as strategic allies in CorPower’s journey – not just as investors but as partners bringing industrial expertise and a shared drive to advance clean energy innovation. Welcome onboard!
