CorPower Ocean
Swedish wave-energy technology company developing point-absorber converters and integrated ocean-energy systems.
Last updated August 24, 2026
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Overview
CorPower Ocean AB is a Swedish clean-technology company developing wave-energy conversion equipment for utility-scale renewable electricity generation. Founded in 2012 by cardiologist and inventor Stig Lundbäck and Mats Möller, the company emerged from work supported by the European Institute of Innovation and Technology InnoEnergy. Its technology is based on a circular, rotationally symmetrical point absorber that moves with the rise and fall of ocean waves and converts that motion into electricity. The central CorPower Wave Energy Converter, or WEC, uses a control and energy-storage concept known as WaveSpring. The system can be tuned to increase motion and energy capture in ordinary wave conditions, while being detuned during severe weather so that the device moves less and experiences lower mechanical loads. This operating approach is intended to combine relatively high power capture with survivability in storms, two longstanding challenges for wave-energy developers. The device is moored to the seabed with a UMACK anchoring and connectivity system and uses a pneumatic pre-tensioning arrangement, a mechanical drivetrain, and a generator to transform vertical movement into electrical output. CorPower's development program has progressed through laboratory tests, scaled prototypes, and sea demonstrations. Early work included small-scale hydrodynamic testing and dry-rig trials of the power-take-off system. The company tested its half-scale C3 converter at the European Marine Energy Centre in Orkney, Scotland, during 2018 and 2019. The approximately 25 kW C3 unit provided a marine test of the WaveSpring concept, controls, mooring arrangements, and power-conversion equipment. The next major step was the commercial-scale C4 converter, deployed at Aguçadoura in northern Portugal in September 2023 under the HiWave-5 program. The unit was launched from Viana do Castelo, towed to a site roughly four kilometres offshore, connected to the seabed with a UMACK system, and linked to the Portuguese grid by subsea cable. After commissioning, it began exporting electricity in October 2023. The C4 is described as a 300 kW-rated device, approximately 9 metres in diameter and 19 metres tall, with a mass of about 60 tonnes. CorPower reported that it remained operational through Storm Domingos, including waves reported at approximately 18.5 metres, providing an important survivability demonstration. The company also develops the wider infrastructure needed for wave-energy farms. It has proposed CorPack clusters comprising roughly 25 converters with an aggregate output of about 10 MW. These arrays are intended to share mooring, subsea electrical, monitoring, and maintenance infrastructure, allowing wave generation to complement offshore wind and other renewable sources. CorPower's operations include offices in Stockholm, Oslo, Viana do Castelo, and Stromness. Viana do Castelo functions as a research, manufacturing, and service centre for its converters. Commercialization has been supported by public programs, strategic partners, and private investment. CorPower has worked with organizations including Wave Energy Scotland, the Swedish Energy Agency, InnoEnergy, the Interreg NWE FORESEA program, TotalEnergies, Simply Blue Group, and ESB. Potential deployment concepts have included projects in Portugal, Scotland, Ireland, the United Kingdom, and other European markets. In October 2024, the company announced a EUR 32 million Series B financing round, stating that cumulative public and private investment since its founding had reached EUR 95 million. In February 2025, it was also announced that CorPower could receive up to EUR 17.5 million through the European Innovation Council Accelerator, combining a grant and an equity-investment commitment. The company remains privately held and is focused on moving from demonstration-scale projects toward certified, grid-connected arrays.
History
CorPower Ocean was established in Sweden in 2012 by Stig Lundbäck and Mats Möller, with early support from the European Institute of Innovation and Technology InnoEnergy. The company's concept drew on Lundbäck's medical understanding of the human heart and on engineering research into controlled resonance and wave-energy absorption. Rather than using a large articulated structure or an extensive submerged turbine, CorPower pursued a compact point absorber that could be deployed in clusters. The company's development path was organized as a series of technology-readiness stages. Initial work involved approximately 1:30 and 1:16 scale model tests in 2012 and 2013–2014, followed by dry testing of a 1:3-scale power-take-off system. WaveSpring development was also tested in the Hydrodynamic and Ocean Engineering Tank at École Centrale de Nantes in France in November 2014. The objective was to demonstrate that the converter could be controlled to resonate with ordinary waves for higher energy capture, then detuned in extreme conditions to reduce loads and improve survivability. A major marine demonstration took place at the European Marine Energy Centre's Scapa Flow test site in Orkney, Scotland. During 2018 and 2019, CorPower tested the half-scale C3 converter under the HiWave-3 project. The device was approximately 4.3 metres in diameter and 10 metres high, with a stated rating of about 25 kW. The project received support from Wave Energy Scotland's Novel Wave Energy Converter program, the Swedish Energy Agency, InnoEnergy, and the Interreg NWE FORESEA initiative. The trials allowed the company to assess hydrodynamic response, controls, mooring behavior, and the power-conversion chain in an exposed marine environment. CorPower then moved toward commercial-scale validation in Portugal. In 2020, it obtained authorization from Portugal's Directorate-General for Natural Resources to deploy devices offshore at Aguçadoura as part of HiWave-5. The site had previously been associated with the Aguçadoura wave farm developed by Pelamis Wave Power. A subsea cable approximately 6.2 kilometres long was installed in 2022 to provide communications and transmit electricity between the offshore test area and shore. Before marine deployment, the C4 drivetrain underwent around a year of testing in a dedicated dry rig at the company's Västberga facility in Stockholm, enabling debugging and performance tuning before exposure to offshore conditions. The C4 was launched from the port of Viana do Castelo and deployed at Aguçadoura in September 2023. It was towed to a position about four kilometres offshore, connected to a bespoke UMACK seabed anchoring system, and linked to the Portuguese electricity grid. After commissioning, grid export began in October 2023. The approximately 300 kW-rated unit measures about 9 metres in diameter and 19 metres in height and weighs roughly 60 tonnes. CorPower reported that the device survived Storm Domingos in November 2023, when wave heights at the site were reported to have reached approximately 18.5 metres. The company planned further servicing and performance-assessment work, including evaluation under the IEC Technical Specification 62600-100 framework. The HiWave-5 program was intended to progress from validation of a single C4 device to demonstration of a small array, potentially adding three C5 converters. The program also involved TotalEnergies as a development partner. Although earlier schedules anticipated array manufacturing and deployment between 2022 and 2024, the timetable was affected by the COVID-19 pandemic and later delays. As of the available reference material, the array stage had not yet fully commenced. CorPower has simultaneously developed a broader commercial pipeline. In 2019, it partnered with Simply Blue Group on potential wave-energy projects in the United Kingdom and Ireland. Simply Blue and ESB have proposed the Saoirse project off County Clare, Ireland, with a planned capacity of approximately 5 MW and a prospective construction period around 2028–2029. Simply Blue also applied for permission to deploy a CorPack cluster at the EMEC Billia Croo test site in Orkney. In May 2025, CorPower was reported to have signed a berth agreement with EMEC for that project. The company's financing has combined public support with private capital. In October 2024, CorPower announced a EUR 32 million Series B round and reported cumulative funding of EUR 95 million since establishment. In February 2025, it was announced that the company had secured potential EIC Accelerator support of up to EUR 17.5 million, consisting of a EUR 2.5 million grant and a EUR 15 million equity pre-commitment. CorPower's current strategy is to use these resources and demonstration projects to establish reliable, certified wave-energy arrays that can operate alongside offshore wind and other renewable-generation technologies.
- 2025
EIC Accelerator support announced
[1]The company was selected for potential European Innovation Council Accelerator support of up to EUR 17.5 million.
- 2024
Series B financing announced
[1]CorPower announced a EUR 32 million Series B financing round.
- 2023
Commercial-scale C4 deployed
[1]The C4 converter was deployed at Aguçadoura, Portugal, and began exporting electricity to the grid after commissioning.
- 2022
Subsea export cable installed
[1]A subsea cable of approximately 6.2 kilometres was installed to connect the Aguçadoura test area with shore.
- 2020
Portuguese deployment authorization
[1]CorPower obtained authorization to deploy wave-energy devices offshore at Aguçadoura as part of HiWave-5.
- 2018
C3 sea trials begin in Orkney
[1]The half-scale C3 converter entered testing at EMEC's Scapa Flow site in Scotland under the HiWave-3 program.
- 2014
Early WaveSpring tank testing
[1]WaveSpring technology underwent early hydrodynamic testing at École Centrale de Nantes in France.
- 2012
Company founded
[1]CorPower Ocean was founded in Sweden by Stig Lundbäck and Mats Möller with support from the EIT InnoEnergy ecosystem.
Products and positioning
A specialist wave-energy technology provider focused on commercially scalable, survivable, and grid-connected ocean-power systems.
Half-scale point-absorber wave-energy converter · 2018
C3 Wave Energy Converter
The C3 was CorPower's half-scale marine prototype, tested at EMEC's Scapa Flow site in Orkney during 2018 and 2019. It was approximately 4.3 metres in diameter and 10 metres tall, with a stated power rating of about 25 kW. The prototype was used to validate the company's WaveSpring control concept, mechanical drivetrain, mooring arrangements, and operating behavior in real sea conditions.
Commercial-scale point-absorber wave-energy converter · 2023
C4 Wave Energy Converter
The C4 is a commercial-scale CorPower converter deployed at Aguçadoura in Portugal in September 2023. It is rated at approximately 300 kW, measures about 9 metres in diameter and 19 metres in height, and weighs around 60 tonnes. The device uses WaveSpring controls, a UMACK anchoring system, a mechanical power take-off, and a subsea grid connection. It began exporting electricity after commissioning and was used to demonstrate performance and storm survivability.
Next-generation wave-energy converter
C5 Wave Energy Converter
The C5 is identified as a planned next-stage converter for the HiWave-5 pilot array. Available reference material indicates that three C5 units were intended to follow the single-device C4 demonstration, but it does not establish a completed commercial deployment or final production specifications.
Wave-energy array
CorPack
CorPack is CorPower's concept for clustering approximately 25 wave-energy converters into an integrated ocean-energy farm. A cluster is projected to provide around 10 MW, with shared electrical, mooring, monitoring, and service infrastructure. The concept is intended to improve project economics and enable wave generation to operate as a complementary source alongside offshore wind and other renewable technologies.
Mooring and anchoring system
UMACK
UMACK is CorPower's seabed anchoring and connectivity approach for its wave-energy converters. The system uses a pile-based connection and is designed to provide the mechanical and electrical interfaces required for offshore deployment. It was used for the C4 installation at Aguçadoura and forms part of the company's broader effort to standardize installation and array infrastructure.
Marketing campaigns
- 2025EMEC berth agreement
United Kingdom · Scotland
CorPower signed a berth agreement with the European Marine Energy Centre for a proposed 5 MW wave-energy project at the Billia Croo test site in Orkney.
Outcome. The agreement moved the proposed project closer to deployment, although the available material does not confirm completed installation.
- 2020HiWave-5
Portugal
HiWave-5 is CorPower's Portuguese demonstration and commercialization program at Aguçadoura, progressing from a single commercial-scale converter toward a small pilot array.
Outcome. The C4 was deployed and connected to the Portuguese grid, while the planned multi-device demonstration remained subject to schedule changes and further development.
- 2019Simply Blue Group wave-energy collaboration
Ireland · United Kingdom
CorPower partnered with Simply Blue Group to explore wave-energy projects using CorPower converters in the United Kingdom and Ireland.
Outcome. The partnership contributed to proposals including the Saoirse project off County Clare and a prospective CorPack deployment at EMEC in Orkney.
- 2018HiWave-3
United Kingdom · Scotland
HiWave-3 was the program under which CorPower tested the half-scale C3 converter at EMEC's Scapa Flow site in Orkney. It received support from Wave Energy Scotland, the Swedish Energy Agency, InnoEnergy, and the Interreg NWE FORESEA program.
Outcome. The campaign provided sea-trial data for the C3 converter and advanced validation of CorPower's wave-control and power-conversion technology.
Brand decisions
2025
Accept European Innovation Council Accelerator supportStrategyBackground
The company sought additional funding for renewable-energy technology development and commercialization.
Action taken
CorPower was selected for potential EIC Accelerator support comprising a EUR 2.5 million grant and a EUR 15 million equity-investment pre-commitment.
Aftermath
The support could provide up to EUR 17.5 million for the company's development program, subject to the applicable investment conditions.
Potential EIC Accelerator support. Up to EUR 17.5 million (2025)
2024
Raise Series B capital for commercializationStrategyBackground
Wave-energy commercialization requires substantial capital for offshore demonstrations, manufacturing capability, certification, and array development.
Action taken
CorPower announced a EUR 32 million Series B financing round.
Aftermath
The company stated that cumulative public and private investment since its founding had reached EUR 95 million, supporting continued development of larger deployments.
Series B financing. EUR 32 million announced round (2024)
2023
Deploy the C4 at AguçadouraProduct launchBackground
CorPower needed to advance from the C3 prototype to commercial-scale offshore validation under the HiWave-5 program.
Action taken
The company launched the C4 from Viana do Castelo, towed it offshore, connected it with a UMACK system, and linked it to the Portuguese grid.
Aftermath
The converter began exporting electricity in October 2023 and became the company's principal commercial-scale demonstration.
Recent events
Sources3 sources
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