CorPower Ocean and OPS Composite Solutions are primed to deliver an ‘industry advancing’ wave energy project after securing close to EUR500,000 (US$606,234) from EEA Grants.
The Portuguese-Swedish wave energy developer and Norwegian engineering firm will join forces for the COMPACT (COMposite Pressure cAsing for CosT- and energy-effective wave power generation) Project, combining sector-leading Wave Energy technology with low-cost composite design and fabrication processes from the offshore industry.
Financial backing comes from Iceland, Liechtenstein, and Norway under the EEA Grants ‘Blue Growth Programme’ – which is committed to stimulating ‘blue economy’ innovation, creating jobs, and driving growth for SMEs.
The COMPACT Project aims to boost the performance and slash costs of CorPower’s next-generation WECs (Wave Energy Converters), which will shortly enter the flagship HiWave-5 demonstration phase (see notes to editors) in northern Portugal.
