CorPower Ocean, a leader in wave energy technology from Sweden, has secured two new strategic investors – Acario, a Silicon Valley-based venture investment arm of Tokyo Gas, and GTT Strategic Ventures, the investment fund of French technology and engineering group GTT, as part of its Series B funding round.
The investment builds on CorPower Ocean’s earlier €32 million Series B1 raise, marking a significant milestone in scaling wave energy as a mainstream, bankable source of clean electricity.
Tokyo Gas, one of Japan’s largest energy utilities and a major investor in renewable energy, and GTT Group, a global leader in cryogenic technologies for liquefied gas transport, bring strong industrial alignment, engineering expertise, and global credibility to CorPower Ocean’s commercial scale-up journey.
They join a growing investor consortium including NordicNinja VC, SEB Greentech, InnoEnergy, Cisco Investments, Santander Asset Management, and Iberis Capital, providing a powerful combination of capital, deep-tech know-how, and global market access.
Patrik Möller, CEO and Co-founder of CorPower Ocean, said: “We are delighted to welcome GTT and Tokyo Gas via Acario as shareholders. They bring significant engineering and industrial scale-up expertise, and we are looking forward to having their support in making wave energy a mainstream energy source. The potential of co-locating CorPack wave arrays with offshore wind and solar installations around the world to enable 24/7 clean power is a major opportunity that we are excited to develop together with strong partners.”
With commercial momentum and growing awareness, the UK recently underscored interest in the sector with Energy Minister Michael Shanks establishing a new Marine Energy Taskforce with backing from the Crown Estate and Crown Estate Scotland. The taskforce aims to unlock the region’s 25 GW wave + 11 GW tidal potential through a strategic roadmap spanning site development, financing, innovation and supply chain growth.
Due to its consistent and complementary power profile, wave energy helps stabilise output from solar and wind, unlocking 24/7 renewables at lower cost. Studies show that a clean energy mix including wave energy typically requires less than half the installed capacity, half the grid infrastructure, and 20–50% less storage compared to a cost-optimal system based solely on solar and wind.
As fossil fuels still supply more than 80% of global energy, the need for 24/7 clean energy solutions has never been more urgent. Wave energy offers a powerful path to replace fossil fuels, enhance energy independence, and meet the growing demand for firm, carbon-free electricity from data centres and heavy industry to national grids.
