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§ Private Profile · Stockholm, Stockholms Lan, Sweden
Develops high-efficiency wave energy converters (WECs) for marine energy markets, generating electricity and enabling desalination.
Based in Stockholm, Sweden, CorPower Ocean develops high-efficiency wave energy converters that utilize phase-control technology to generate utility-scale renewable electricity from ocean waves. The company's rotationally symmetrical point absorbers are engineered to operate reliably in extreme marine environments, recently demonstrating the capacity to withstand 18.5-meter storm waves during a commercial-scale grid connection deployment in northern Portugal. Operating with a workforce of approximately 35 employees across four different European offices, the enterprise has secured more than €95 million in total funding to date. This capital structure includes a €32 million Series B financing round in 2024 and a €17.5 million grant from the EIC Accelerator, overseen by a board of directors featuring Andreas Gunnarsson, Erika Butterworth, Tomosaku Sohara, and Markus Hökfelt. CorPower Ocean was founded in 2012 by Stig Lundbäck and Patrik Möller.
CorPower Ocean has raised $48.1M across 2 funding rounds.
CorPower Ocean has raised $48.1M in total across 2 funding rounds.
CorPower Ocean has raised $48.1M in total across 2 funding rounds.
CorPower Ocean's investors include Tomosaku Sohara, SEB Greentech Venture Capital.
CorPower Ocean has raised $48.1M across 2 funding rounds. Most recently, it raised $37.2M Series B in October 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Oct 16, 2024 | $37.2M Series B | Tomosaku Sohara, SEB Greentech Venture Capital | — | Announced |
| Feb 23, 2021 | $10.9M Venture Round | — | — | Announced |