CorPower enter into ‘strategic’ wave energy collaboration

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A Swedish wave energy firm with a base in the north of Scotland has announced a “strategic collaboration” to deliver new UK projects.

CorPower Ocean, who has extensively tested its C3 Wave Energy Converter (WEC) at the European Marine Energy Centre (EMEC) off the coat of Orkney, has agreed the deal with Irish developer Simply Blue Energy.

The companies have agreed the Strategic Collaboration Agreement to develop a number of wave energy projects off the coast of the UK and Ireland.

Under the terms of the agreement, CorPower’s C3 technology will be used in a number of identified commercial sites off the coast of Ireland and Wales.

Simply Blue Energy said it will also investigate the development and deployment of combined floating wind and wave energy farms.

Anders Jansson, commercial director of CorPower Ocean, said: “These commercial projects line up as the next step following our ongoing product verification and certification program.

“Having a commercial developer investing in projects based on our technology is a significant milestone for CorPower and the wave energy industry as a whole.”

CorPower scooped £2 million additional private equity funding in December 2018.

The firm opened an additional funding round to add to the £7.6m secured project funding from the Swedish Energy Agency and the £2m already won from from Oceanera-net.

Sam Roch-Perks, CEO of Simply Blue Energy added: “We have worked with the team at CorPower over the last 2½ years and they have, during this time, convinced us that they have the ability to bring their technology to the required levels of technical readiness within the timeframes we have agreed.

“We are also excited to explore the possibility of combining floating wind and wave energy to bring balance to the grid which is so important if we are to increase the reliability and viability of renewable energy.”