Breakthrough results in wave energy
Renewable energies
CorPower Ocean
CorPower has created a Wave Energy Converter (WEC) that unlocks the world’s largest untapped renewable energy source – ocean waves.
Commercialised by
CorPower Ocean
Hägersten, Sweden
Västberga Allé 60, 126 30 Hägersten, Sweden
Sustainable developement goals
Wave power. To power the planet.
CorPower Ocean’s wave energy converters harness clean energy from the world’s largest untapped energy source – our oceans. The wave motion is turned into rotation, which is converted into electricity by generators inside the buoy.
The need
Commercially available wave energy constitutes ~500GW, which covers about 10 percent of global electricity consumption. Wave energy can be a balancing source that enables a high penetration of wind and solar at the lowest electricity system cost possible.
The solution
The CorPower Wave Energy Converter (WEC) can produce five times more electricity per tonne of the device (>10MWh / tonne) than any other known wave technology. It combines storm survivability with strongly amplified power capture in regular sea conditions. Obtaining large amounts of electricity from a small device significantly reduces capital expenses (CAPEX). The compact lightweight devices are also less costly to transport, install and service, reducing operating expenses (OPEX).
The value proposition
- The world’s most efficient wave energy converter proven at sea.
- Physics supporting highly-competitive levelised cost of electricity (LCOE), verified through step-by-step approach.
- Key enabler for the transition to 100% renewables, by natural grid balancing.
- A dedicated and experienced team.
- Market pull – sector leading customers engaging with the aim of developing utility and off-grid projects.
- Offering attractive funding mix with high leverage on private equity invested.