CorPower has created a Wave Energy Converter (WEC) that unlocks the world’s largest untapped renewable energy source – ocean waves.
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.
Commercially available wave energy resources constitute ~500GW, which covers just 10% of global electricity consumption. Wave energy is a balancing source that enables a high penetration of wind and solar at the lowest electricity system cost.
The CorPower Wave Energy Converter (WEC) can produce five times more electricity per tonne (>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 expense (capex). The compact lightweight devices are also less costly to transport, install and service, bringing down operating expense (opex).
• The world’s most effective 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.