An innovation based on the pumping principles of the human heart, CorPower Ocean AB has created a wave energy converter (WEC), a compact, highly-efficient product that offers five times the annual output of energy per tonne than any previously known technology. The step-change improvement in performance enables an energy cost that can compete with offshore wind in the short term, as well as established energy sources as volumes increase.
The aim is to establish a new class of highly-effective, utility scale wave power energy generators that compete with established energy sources.
There is an urgent need for competitive renewable energy production systems. The effective harvesting of nature’s vast resource of energy harnessed in ocean waves could potentially produce 2000-4000 TWh of electricity per year – some 10-20% of the world’s electricity, propelling us towards a more sustainable future fuelled by clean and economical energy.
The key challenge is to provide a reliable means to withstand storms while, at the same time, delivering enough annual energy in relation to the system life cycle cost to make for a profitable business prospect. CorPower’s devices are extremely compact and operate in resonance with incoming waves, delivering a large amount of power with small buoys. Storm survival is made possible due to a unique de-tuning mechanism that enables devices to be more resilient to incoming energy.
The value proposition
CorPower Ocean’s technology offers exceptionally high power density; five times higher than that of competing wave power solutions. The WEC system enables utility customers to build reliable wave power farms to harvest ocean energy, with a resultant energy cost that can compete with established energy sources. Wave farms based on CPO technology require less capital investment, less ocean area, less materials, and deliver a higher annual energy output for a given generation capacity. All enabled by system efficiency and smart control.
Patrik Möller M.Sc., CEO
Entrepreneur and technologist with experience in co-founding and running venture-financed companies in the renewable energy and semiconductor technology space. Passionate about creating game-changing products from innovative ideas.
114 28 Stockholm