CorPower announced extending its equity funding with €9 million in a round backed by Midroc, SEB and family offices from Sweden.
CorPower, a Stockholm, Sweden-based manufacturer of wave energy technology, announced an extension round of €9 million ($10.9M).
CorPower, founded in 2012 by CEO Patrik Möller, develops a new generation of high-efficiency Wave Energy Converters (WECs), inspired by the pumping principles of the human heart. Advanced control technology allows large amounts of energy to be harvested using small, low-cost devices. A unique solution makes them resistant to storm waves, which provides survivability in the harshest ocean conditions.
CorPower’s is headquartered in Sweden, with offices in Portugal, Norway and Scotland. The company previously raised $22.4 million in equity funding.