Swedish company CorPower has raised €6.5m to help fund a third round of testing for the company’s wave energy converters.
Funding partners include KIC InnoEnergy, Wave Energy Scotland and the Swedish Energy Agency.
The stage three programme will include dry testing to verify performance and reliability in a controlled on-land environment using hardware-in-the-loop rig followed by ocean deployment at the Scapa Flow test site on Orkney.
CorPower said second round testing with WavEC Offshore Renewables and Iberdrola Engineering & Construction had shown an increase of 300% in energy capture, compared with traditional wave energy technologies.
The converters are designed and based on the same pumping principles of the human heart, the company said.
CorPower chief executive officer Patrik Moller said: “This funding now means that we can take a significant step forward towards bringing this cutting edge technology to market and could help enable a fundamental shift in electricity generation from ocean waves.”
KIC InnoEnergy CEO Sweden Kenneth Johansson said: “This latest funding success is proof of the benefits that this technology could bring to the field of renewable energy.”
Image: waves
