CorPower Ocean

July 2025
CorPower Ocean, a Sweden-based company that brings high-efficiency Wave Energy technology that enables reliable and cost-effective harvesting of electricity from ocean wave, has secured two new strategic investors – Acario, the 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.

AltRaise acted as financial investor to Corpower in the context of GTT Group’s investment.

Wave energy is fast emerging as a strategic technology that can deliver the lowest-cost clean firm power mix in many global regions. 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.