CorPower Ocean Welcomes Tokyo Gas and GTT Group To Series B Round

Acario (Tokyo Gas’s venture arm in Silicon Valley) and GTT Strategic Ventures (the investment arm of French group GTT) have joined the round.

This follows CorPower’s earlier €32M Series B1 raise and will help push forward its mission to make wave energy a reliable source of clean electricity.

Patrik Möller, CEO and co-founder of CorPower Ocean, says, “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.”

Tokyo Gas and GTT Group have joined the group backing CorPower Ocean as it prepares for global expansion. Both companies bring engineering expertise, operational know-how, and access to international markets to support CorPower’s wave energy technology.

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The investor consortium now includes NordicNinja VC, SEB Greentech, InnoEnergy, Cisco Investments, Santander Asset Management, and Iberis Capital. Together, they provide both funding and technical support to help CorPower grow globally.

Tokyo Gas serves around 13 million gas and 4 million electricity customers in Japan. Its venture arm, Acario, invests in technologies that support the shift to low-emission energy.

Acario focuses on decarbonisation, energy system optimisation, and resilience—investing in startups that are shaping the future of clean energy.

Kenji Maeda, CEO of Acario, says, “We are excited to join CorPower Ocean and support the goal of realising wave energy as a stable utility-scale renewable resource globally. The ocean demonstrates incredible potential to meet the world’s rapidly growing need for clean energy and energy security.”

“CorPower Ocean is in a unique position to fulfil this opportunity by delivering high-capacity factor clean power at an affordable cost – with high reliability. Our participation demonstrates Acario’s dedication to supporting remarkable innovators who are building the future of energy systems.”

GTT Group, through its investment arm GTT Strategic Ventures, brings decades of experience in cryogenic systems used for transporting and storing liquefied gas. The company invests in clean and climate tech, focusing on future-ready energy infrastructure.

With a mix of funding and industry know-how, the consortium aims to fast-track CorPower Ocean’s global growth in the energy sector.

Hélène Loncin Head of GTT Strategic Ventures, mentions, “We are proud to support CorPower Ocean in its mission to unlock the vast potential of wave energy. As a clean, ocean-based power source wave energy can play a critical role in addressing key challenges of the energy transition – from ensuring the availability of green electricity to enabling local production and supporting grid balancing.”

“This investment reflects GTT’s commitment to fostering pioneering technologies that contribute to a sustainable energy future.”

CorPower Ocean is developing wave energy technology to provide clean, reliable electricity and reduce dependence on fossil fuels. The goal is to make wave power a steady part of the renewable energy mix alongside wind and solar.

To address challenges like energy stability and infrastructure needs, CorPower has created a Wave Energy Converter (WEC) that turns ocean waves into electricity. Inspired by the pumping motion of the human heart, the design delivers high energy output using less material.

The WEC produces up to five times more electricity per ton than older wave energy systems. It works efficiently in regular sea conditions and can keep operating safely during storms.

Compact and powerful, a single 300kW WEC is 9 meters wide and weighs 70 tonnes. Its smaller size makes it cheaper and easier to transport, install, and maintain.

CorPower’s technology aims to supply clean energy to industries, power grids, and other large-scale users. The company operates in Sweden, Portugal, Norway, and Scotland, and is backed by both public and private funders across Europe.

Supporters include EIT InnoEnergy, the European Commission, the Swedish Energy Agency, AICEP Global, Wave Energy Scotland, CoreSpring New Technology, ALMI Greentech, SEB Greentech VC, and other private investors.

About CorPower Ocean

Founded in 2012, CorPower Ocean builds wave energy farms using technology inspired by the human heart. Its advanced control system maximizes energy from waves, even during storms. With high power output, low costs, and efficient maintenance, CorPower’s solution helps speed up the global shift to 100% renewable energy.