Swedish wave energy company, CorPower Ocean, has raised €32 million in funding for the commercialization of its wave energy solutions.
The funding round was led by NordicNinja VC, SEB Greentech, and EIT InnoEnergy.
CorPower Ocean has developed a wave energy device that can withstand harsh storm conditions while generating power efficiently in normal ocean environments.
Wave energy has great potential as a renewable energy source and CorPower Ocean's technology aims to overcome commercial viability challenges.