# CorPower Ocean

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/corpower-ocean

- Industry: Renewable Energy
- Headquarters: Stockholm, Sweden
- Website: www.corpowerocean.com
- Total disclosed funding: $96M
- Latest round: Series B (May 26, 2026)
- Investors on record: 10

## About

In May 2026, CorPower Ocean AB raised EUR 53 million in series B funding co-led by returning investor NordicNinja VC, SEB Greentech and InnoEnergy with participation from other returning investors Cisco Investments, Iberis Capital and Santander Asset Management. New investors Acario, Algebris Investments, European Innovation Council, and GTT Strategic Ventures also participated in the round. This round was a larger part of EUR 85 million of Series B and Series B extension funding.

The company offers technology that maximizes energy generation while maintaining reliable operation even in difficult ocean conditions. The firm's wave energy converters operate as point absorbers, with a heaving buoy on the surface receiving energy from ocean waves. This motion is converted into rotation and subsequently into electricity by generators located within the buoy. The control technology used by CorPower allows the system to be altered and tuned to provide optimal response to changing sea conditions. Wavespring technology, a Cascade gearbox, a Pre-tension cylinder, a Composite buoy, an UMACK anchor, and an Advanced control system are the technologies used for CorPower Ocean's wave energy converters.

The business offers CorPack wave clusters, which contain Wave Energy Converters, moorings, anchors, and electrical collecting devices and have a capacity of 10 to 20 MW. During the project delivery phase, CorPower Ocean also helps with manufacture, construction, installation, commissioning, and continuing operation and maintenance.

The company plans to use May 2026 funding to develop its wave energy technology and support the rollout of commercial-scale wave.

## Funding rounds

- Series B, May 26, 2026, $62M — Algebris Investments, Santander Asset Management, Cisco Investments, Iberis Capital, InnoEnergy, NordicNinja VC, Acario, SEB Greentech, GTT Strategic Ventures, European Innovation Council
- Series B, Nov 1, 2024, $35M — Santander Asset Management, Cisco Investments, Iberis Capital, InnoEnergy, NordicNinja VC, SEB Greentech

## Investors

- Santander Asset Management — Series B
- Cisco Investments (https://capitalatlas.ai/funds/cisco-investments) — Series B
- Iberis Capital (https://capitalatlas.ai/funds/iberis-capital) — Series B
- InnoEnergy (https://capitalatlas.ai/funds/innoenergy) — Series B
- NordicNinja VC (https://capitalatlas.ai/funds/nordicninja-vc) — Series B
- SEB Greentech (https://capitalatlas.ai/funds/seb-greentech) — Series B
- Algebris Investments (https://capitalatlas.ai/funds/algebris-investments) — Series B
- Acario (https://capitalatlas.ai/funds/acario) — Series B
- GTT Strategic Ventures (https://capitalatlas.ai/funds/gtt-strategic-ventures) — Series B
- European Innovation Council (https://capitalatlas.ai/funds/european-innovation-council) — Series B