As we draw to a close of 2025, we’re proud to share a year of major milestones for CorPower Ocean, strides that bring wave energy ever closer to becoming a mainstream, reliable clean energy source.
Major funding & strategic investment
In February 2025, CorPower Ocean was awarded up to €17.5 million by the European Innovation Council (EIC) Accelerator — including €2.5 M in grant funding and a €15 M equity pre-commitment — to accelerate commercialization of our wave energy technology.
We welcomed two new strategic investors, Acario (Tokyo Gas) and GTT Group, to our growing investor base — strengthening our industrial capabilities, global reach and long-term scale-up prospects.
We also secured a €40 million grant from the EU Innovation Fund to support the development of our 10 MW wave farm project, VianaWave, off the coast of northern Portugal.
Towards end of year CorPower Ocean was selected to lead the €30M POWER-Farm EU Project, addressing the competitiveness and bankability of wave farms by validating the technology in conditions required for large-scale deployment in UK waters. The initiative is partly funded by a €19M grant from Horizon Europe.
Thought leadership & vision — 24/7 clean energy
In March, we published a comprehensive white paper, “Quest for 24/7 Carbon-Free Energy”, showing how wave energy can deliver continuous, stable power to complement intermittent renewables — and meet growing demand from heavy-industry, data centres and other energy-intensive sectors.
The white paper outlines how integrating wave energy into the global energy mix can yield not only lower costs and greater grid stability — but also enable truly round-the-clock carbon-free electricity.
24/7 clean power for DataCenters: Patrik Möller gave a Keynote at Websummit 2025 on how ocean waves unlock lowest cost 24/7 clean power in many places of the world. https://youtu.be/UnnczA8RRM0
Recognition:
CorPower Ocean – Global Cleantech leader for second year
Projects & site development — from Portugal to the UK
We completed a geophysical survey off the coast of Aguçadoura, northern Portugal, mapping ~340 hectares — a crucial step toward realising the VianaWave 10 MW pre-commercial project.
In the UK, we signed a berth agreement to develop a 5 MW wave energy array at the European Marine Energy Centre (EMEC) Billia Croo site, set to become the UK’s largest wave energy installation — marking a significant deployment milestone for CorPower.
Technology & innovation — improving scale & competitiveness
Through a new development agreement with Equipmake, we began work on a bespoke generator and SiC-inverter system tailored for our wave energy converters — moving us closer to large-scale, industrial-grade deployment.
These technological developments, together with our modular wave-cluster (CorPack) approach, strengthen our ability to roll out projects efficiently and cost-effectively — making wave energy a viable competitor in the clean energy mix.
The bigger picture — meeting growing global energy demand
The climate crisis is rooted in energy: around 75% of global greenhouse gas emissions come from primary energy use, and roughly 80% of that energy still comes from fossil fuels.
Global energy demand is rapidly accelerating, driven by AI, cloud computing, and expanding digital infrastructure. Data centres alone could consume over 3% of global electricity by 2030, up from 1% in 2020, according to the IEA.
Wave energy, with its ability to provide continuous, 24/7 clean electricity, is uniquely positioned to support the rapid roll-out of data centres and other energy-intensive infrastructure — helping meet rising demand while tackling the climate challenge head-on. This is why the likes of Cisco are investing in us.
By integrating wave energy into the grid alongside solar and wind, we can power the digital future sustainably.
Looking ahead: 2025 has laid a strong foundation for 2026 and beyond. With robust funding secured, technology maturing, strategic investors onboard, and concrete projects gearing up – CorPower Ocean is scaling up . We remain committed to transforming ocean waves into a stable, sustainable, and scalable source of clean electricity – enabling true 24/7 carbon-free power.
Thank you to our incredible team, investors, partners, and supporters. Let’s keep riding the waves — together.
