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CorPower Ocean

Early Stage Startup





Tagline

Resonant Wave Power



Elevator Pitch

CorPower's Wave Energy Converters deliver five times more annual energy output per ton of device compared to previous state-of-the-art wave power. This step-change improvement in efficiency delivers a Cost-of-Energy that can compete with offshore wind.

Product

- Wave Energy Converters with proprietary phase control technology
- Turn key wave farms in collaboration with leading offshore EPCs



Why we are ecofriendly

Wave power is a significant untapped resource of clean renewable energy, with techno-economical resource of similar size as the current global install base of hydropower. The compact converters from CorPower Ocean offers low carbon electricity generation with significantly reduced material use, requiring less than a quarter of the steel and concrete compared to competing wave harvesting methods for a given annual energy delivery .

Latest News

- Demonstration of revolutionary control technology completed at Ecole Centrale Nantes during November 2014.
- Commissioning of new Scale 1:3 unit in Stockholm, offering customer demos during 2015.
- Pilot with Iberdola Engineering and WavEC Offshore Renewables kicked off in 2014. Targeting >8MWh/ton device in Atlantic coast environment
-- Stage 3 pilot (25kW) in 2016 followed by full scale pilot unit (300kW)
- Strategic partnership with leading gear box manufacturer for CorPower's proprietary Cascade Gear technology, targeting wave power and additional industrial applications.

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Version History

2015-05-11 18:29:13 - changed grantsraised to '2,1 MEUR invested in product development 2011-2014 by KIC InnoEnergy, Swedish Energy Agency and Vinnova. Secured...'

2015-05-11 18:27:39 - changed fundraising to '1,5-2 MEUR seed round in 2015 - for completing pilot with Iberdrola. To be complemented by 3,1 MEUR non-dilutive...'

2015-02-09 23:53:49 - changed grantsraised to '2,1 MEUR invested in product development and ongoing customer pilot by KIC InnoEnergy, Swedish Energy Agency and...'

2015-02-09 23:53:22 - changed fundraising to '1,5-2MEUR seed round in 2015 - for completing pilot with Iberdrola. To be complemented by 2,5MEUR non-dilutive funding. '

2015-02-09 23:51:48 - changed productpitch to '- Wave Energy Converters with proprietary phase control technology - Turn key wave farms in collaboration with...'



Website


Revenues

2014:
0

Fundraising

1,5-2 MEUR seed round in 2015 - for completing pilot with Iberdrola. To be complemented by 3,1 MEUR non-dilutive funding.

Capital Raised

500kEUR.

Grants Raised

2,1 MEUR invested in product development 2011-2014 by KIC InnoEnergy, Swedish Energy Agency and Vinnova. Secured additional 3,1 MEUR in non-dilutive funding for 2015-2016 Stage 3 pilot.

Employees

11

Investors

KIC InnoEnergy, Swedish Energy Agency, ALMI, Vinnova, private angel investors.

Customers

Iberdrola Engineering.
www.iberdrola.es/press-room...




Awards

- Winner of MIT Building Global Innovators 2014 Ocean Economy. 100kEUR award.
- Invest-in-Stockholm cleantech hotlist 2014
- HiWave pilot ranked #1 of all renewable energy projects within KIC InnoEnergy in 2013.


Request for Mentors

We are looking for mentors with relevant experience from successfully building startups in the renewable energy sector. Funding, customer partnerships, supply chain development, recruitment and product development are areas of interest.

Country of Origin

Sweden

Founded

2009


Facebook


Team

Patrik Möller - CEO

Stig Lundbäck - Founder and inventor
Stefan Svensson - Lead Engineer


Contact Person

Patrik Möller

Headquarter

Stockholm, with additional development activities in Lisbon and Oslo.

Tags

Wave power, efficiency, energy density, cost effective, renewable, lean cleantech