Algebris Investments Backs CorPower Ocean to Scale Wave Energy Solutions

Algebris Investments has invested approximately 3 million euros through Algebris Climatech, its venture capital strategy dedicated to decarbonisation technologies, in CorPower Ocean AB, a company developing highly efficient wave energy technologies.

The investment is part of a Series B round, with the participation of the European Innovation Council Fund (EIC Fund), and is aimed at supporting the development of CorPower Ocean’s turnkey solutions, with the aim of establishing wave energy as a consolidated and bankable energy source.

Founded in Stockholm in 2012, CorPower Ocean is committed to transforming waves into a stable, sustainable, and scalable source of clean electricity, enabling 24/7 emission-free generation. Its energy converters are designed to withstand the most extreme marine conditions while ensuring constant and reliable energy production. Wave energy generates electricity precisely when other renewable sources like solar and wind are less available: at night, in winter, and during prolonged periods of calm weather.

CorPower Ocean’s technology is based on distributed, modular parks: clusters of independent units designed for redundancy and ease of installation

This architecture strengthens grid resilience through built-in redundancy, scalability, and the ability to quickly recover from outages. The result is a more robust and reliable energy system, capable of ensuring continuity of supply in the most critical moments.

As the international community intensifies efforts to combat climate change, wave energy represents a vast and largely untapped resource. CorPower Ocean is at the forefront of this emerging sector, with solutions that strengthen energy security and support the transition to a low-carbon economy.

The converter developed has already demonstrated its ability to withstand storms and generate energy in Portugal, and CorPower Ocean is now pursuing a product development and certification path towards pre-commercial and bankable wave energy farms. Its compact and modular architecture, combined with the natural complementarity of wave generation with wind and solar, can help reduce system oversizing and storage requirements , promoting a more affordable and readily available supply of renewable electricity.

“We are thrilled to partner with CorPower Ocean in their Series B financing round and to support their team in bringing their robust and efficient wave energy solutions to global markets,” said Stefano Ferrari, Partner at Algebris Climatech.

“Wave energy has long been an undervalued component of the clean energy landscape, and CorPower Ocean combines differentiated technology, a rigorous certification process, and clear industrial ambition. This investment reflects our belief that the oceans’ energy potential can become a critical component of a sustainable global energy system.”

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(Featured image by Silas Baisch via Unsplash)

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