In a world of exponentially spiraling environmental pressures, the need for alternative energy is overriding. Wave power represents a significant opportunity for clean renewable energy supply. Ocean waves have an energy density several times higher than wind and solar power. 10-20% of global electricity need could be satisfied, if a viable and competitive technology is demonstrated. This is of similar magnitude as the global installed base of hydropower.
The challenge in wave power is to design a device that is robust enough to survive the toughest storms, and at the same time produce enough energy to make it a viable business case. So far wave energy converters have been too large and costly compared to their energy output, which has prevented commercial harvesting.
Due to a unique technology and design, CorPower stands on the brink of a major breakthrough in terms of redefining the efficiency of wave energy generation. Wave farms based on CPO technology require less capital investment, less ocean area, less materials and delivers a higher annual energy output for a given generation capacity.