CorPower Ocean develops and deploys buoy-based systems that convert ocean wave motion into electricity and is headquartered in Sweden. The company has built a pre-commercial, 10-megawatt wave energy farm off the coast of northern Portugal enabled by a €40 million EU Innovation Fund grant. CorPower has also secured substantial grant support including €17.5 million from the EIC Accelerator and €19 million through Horizon Europe to advance additional wave farms in the U.K. Its financing history includes prior backing from NordicNinja VC, SEB Bank’s climate tech investment group, and InnoEnergy, and the recent €53 million Series B expands its equity base with participation from the EIC Fund, Algebris, Acario, Tokyo Gas CVC, and GTT Strategic Ventures. The company is using a mix of public grants and private capital to commercialize its technology and scale ocean wave energy deployments.

Total raised

$110M

Funding rounds

3

Latest round

Series B

Latest activity

May 2026