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CorPower puts WEC system through latest tests, as UK ministers visit Orkney marine energy centre to highlight sector's growing potential

Advertisement A new mooring, anchoring, and quick connect solution optimised for marine energy systems is set for Atlantic sea trials, following a range of laboratory and on-land test campaigns currently underway. The €3.7 million UMACK (Universal Mooring, Anchor & Connectivity Kit) Project has developed a unique mooring and anchoring solution aimed at superseding widely used ‘gravity-based’ anchor solutions – reducing CAPEX, installation and operational and maintenance (O&M) costs by more than 50%. The UMACK solution also addresses fundamental challenges to improve the reliable opera...

A New Mooring, Anchoring And Quick Connect Solution Optimized For Marine Energy Systems Is Set For Atlantic Sea Trials, Following…

External Company Press Release After securing a private placement of 9 MEUR, CorPower has extended its equity funding to 20.3 MEUR, for the commercial scale demonstration of its wave energy technology. The investment round was led by Midroc New Technology and included SEB Greentech VC, family offices and private investors. Pareto Securities acted as Sole Manager and Bookrunner in the transaction.   The 9 MEUR investment announced today combined with previous tranches of 9 MEUR in July 2020 and 2.3 MEUR in December 2018 brings total equity funding to support the demonstration of CorPower's fi...