ABOUT US

CorPower Ocean is a leading wave energy technology developer utilising forty years of ocean energy research to bring a new class of high efficiency Wave Energy Converters to market, enabling robust and cost-effective harvesting of electricity from ocean waves.

We are headquartered in Stockholm, Sweden with offices in Norway, Scotland and Portugal.

CorPower enjoys broad backing across Europe, with funders including InnoEnergy, the European Commission, the Swedish and Scottish Governments as well as private investors. End users such as Iberdrola, EDP and Simply Blue Energy have been involved through all stages of development to ensure the product meets customer demands.

CorPower’s goal is to successfully introduce certified and warrantied WEC products in the market by 2023-2024, allowing our customers to build wave farms using conventional project financing. Such a bankable product, with technology risks sufficiently eliminated, will be achieved by completing the last two steps of our structured market introduction process that has been ongoing since 2012.

HISTORY

The development of the CorPower WEC technology was initiated in 2009 by inventor and cardiologist Stig Lundbäck, who was inspired by the pumping principles of the human heart. Scaled function demonstrators were built during 2009-2011, showing the viability of the system. In 2012, a techno-economic review was carried out by a group of experts covering hydrodynamics, mechanics and power generation before the project was accepted for the InnoEnergy incubator program.

Tech entrepreneur Patrik Möller paired up with Stig, taking on the role as CEO in 2012. The work of recruiting an experienced management and engineering team was initiated, and a structured product verification plan in five stages was adopted. This followed the recommendations by IEA-OES and the Equimar project, published as ‘Guidelines for Development and Testing of Ocean Energy Systems’, incorporating lessons learned from previous wave development efforts. Such stage-gate development process has later been adopted also by  ETIP Ocean and funding bodies such as Wave Energy Scotland.

In 2013 scientific collaboration was established with WavEC Offshore Renewables in Lisbon, with prof Sarmento advising the program, and also with NTNU in Trondheim, with prof Falnes as scientific adviser. The initial system design concept progressed further when paired up with the phase control technology ‘WaveSpring’ invented by Jørgen Hals Todalshaug at NTNU. The design principles behind phase-controlled point absorbers build upon more than forty years of research at NTNU in Trondheim, where Kjell Budal and Johannes Falnes introduced the topic in the 1980s. CorPower has an exclusive license on the WaveSpring IP from NTNU Technology Transfer Office, and has developed the concept into a robust industrial solution that has been verified in several stages testing. Jørgen Hals Todalshaug joined CorPower as Lead Scientist in 2015.

Following successful test results though Stage 1 – Stage 3, several utilities and project developers have joined the demonstration program. Our team has continuously grown by attracting top talent with background from other ocean energy developers and industries.

Team

CorPower’s team is built on dedicated people with deep tech knowledge, combining sector experience from several other ocean energy developers and a strong track record from previous technology ventures. The current team of 30+ people includes 10 nationalities with technical experts in areas such as mechanical design, electrical systems, hydrodynamics, control technology, software development, numerical modelling and marine operations. The management team brings experience in areas such as tech startups, product development, business development, financing, supply chain, HR, integration and field support.

MANAGEMENT TEAM

Patrik Möller
CEO 

Entrepreneur and technologist with experience of running technology start-ups with complex product development. Co-founded CorPower in 2012, and has taken the company through three stages of structured product verification. Board member of Ocean Energy Europe and ETIP Ocean steering committee.

Anders Jansson
Commercial Director

Entrepreneur with 14 years’ experience in the marine energy sector. Co-founded Minesto and during his time as the CEO, Minesto raised just under €60M in private and public funding and became listed on Nasdaq First North in 2015.

Jonathan Meason
Engineering Manager

Mechanical Engineer with 12 years’ experience in marine renewable product development. As CTO at Orbital (prev Scotrenewables Tidal Power) he led the design & build of the world’s most powerful tidal turbines.

Hanna Nordqvist
Head of People

Experience and background from building and running teams in various industries since 2006. Hanna has an international background in start-up environment focusing on staff recruiting and people management as well as daily operations.

Louise Petersson
Finance Manager

Extensive experience in running the accounting and book keeping of a medium sized company. Louise has a strong track record in establishing new procedures and keeping administrative and organisational processes effective.

Tord Jonsson
Supply Chain & Quality Manager

Extensive experience from supply chain management, quality and global sourcing of components. Long experience from internal production and outsourcing in Europe and Asia, for ruggedized products made to work in harsh environments.

Matt Dickson
Project Manager

Chartered mechanical engineer with a background in design and analysis of offshore Oil & Gas and Wind assets. Matt has had senior engineering roles at a global energy consultancy where he was responsible for project management, client engagement and business development in offshore projects.

Jean-Michel Chauvet
Director Integration & Testing

Senior expert in machine integration, testing, and field support. A wizard that makes machines run as intended in all circumstances

BOARD OF DIRECTORS

Andreas Gunnarsson – Chairman

Portfolio Director at Midroc New Technology. Extensive experience in starting and operating growth companies in the technology sector. He is also chairman of the board in WRAP International AB and Lamera AB, and member of the board in SolarWave AB.

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Christina Lundbäck

Business development professional with experience from managing sales and growth in large corporations and early stage firms, with proven ability to define new markets, boost sales and reduce cost.

Markus Hökfelt

Investment Manager at ALMI Invest Greentech fund. Entrepreneur with 12 years’ experience from multiple start-up and scale-up businesses and BoD assignments. Background in eMobility, new businesses in downstream energy and Management Consulting.

Ingvar Eriksson

Head of Business Creation at EIT InnoEnergy Scandinavia, responsible for their startup activities. Long experience from starting and running technology companies. Founded Novator AB based on his PhD work at KTH.

Claes Ericsson

Polhem prize winner and founder of several successful technology companies. Private investor in CorPower and one of the co-founders.

INVESTORS

Corpower is proud to be financially supported by EIT InnoEnergy, the European Commission’s H2020 program, the Swedish Energy Agency, Wave Energy Scotland and private investors including Midroc new Technology and Almi Invest.

Midroc New Technology

Midroc Europe has operations in properties, construction, industry and environmental technology. Our operations are international, with Sweden as base. Midroc has 3600 employees and turnover in 2017 was SEK 6,7 billion. https://www.midroc.se/en/investments/

Almi Invest

Almi Invest is Sweden’s most active startup investor. The investments are made all over Sweden through eight regional VC-funds and one national GreenTech fund. Almi Invest manages a total equity of SEK 3 billion and has since start invested in over 600 startups. Our best holdings have been divested to major industry players such as Google, Apple, Microsoft and Qlik or through successful IPOs such as Tobii and MIPS. Almi Invest is a Venture Capital company within the Almi Group. www.almiinvest.se

EIT InnoEnergy

EIT InnoEnergy is the innovation engine for sustainable energy across Europe. We invest in innovation at every stage of the journey – from classroom to end customer. With our network of partners we build connections across Europe, bringing together inventors and industry, graduates and employers, researchers and entrepreneurs, businesses and markets. EIT InnoEnergy was established in 2010 and is supported by the European Institute of Innovation and Technology (EIT). http://www.innoenergy.com/

Swedish Energy Agency

The Swedish Energy Agency is subordinate to the Ministry of the Environment and Energy. We support commercialisation of energy related innovations, to enable a sustainable energy system, combining ecological sustainability, competitiveness and security of supply. Our Marine energy strategy aims at contributing to Sweden’s and Europe’s climate and environmental policy goals, and to drive economic growth based on the global export potential for Swedish innovations in the ocean energy sector. http://www.energimyndigheten.se/en/

Wave Energy Scotland

Wave Energy Scotland is a subsidiary of Highlands and Islands Enterprise and is fully funded by the Scottish Government. It takes a progressive and collaborative approach to tackling the issues which have proved challenging in the wave energy sector and is driving the development of wave energy technology in Scotland and beyond. https://www.waveenergyscotland.co.uk/

SHAREHOLDERS

Shareholders include founders and team, EIT InnoEnergy, Midroc New Technology, Almi Invest and a group of private investors led by Polhem Prize winner Claes Ericsson