CorPower Ocean receives funding to boost wave energy technology

Namely, the initiative known as the COMPACT (COMposite Pressure cAsing for CosT) is developed by CorPower Ocean and OPS Composite Solutions.

Under their partnership, both sides aim to combine sector leading Wave Energy technology with low-cost composite design and fabrication processes from the offshore industry.

What is more, 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 in northern Portugal.

“The COMPACT project combines CorPower’s world-class WEC design knowledge with OPS’ vast e xperience in composite pressure vessels for offshore applications. Together we are aiming to develop new technology addressing two common challenges experienced in state-of-the-art wave energy technology – weight and price.”

….said CorPower Portugal Country Manager Miguel Silva.

The process will involve developing, testing, manufacturing and certifying an innovative light-weight pressure casing (cylinder), which is a key component of our WEC system.

“By making the WEC significantly lighter and using cost-effective materials and production technology, the COMPACT solution aims to increase energy efficiency while decreasing cost of energy.”

…Miguel Silva added.

In addition, the initiative will actively contribute to the Portuguese Industrial Strategy for Ocean Renewable Energies.

As explained, ocean renewable energy has the potential to supply 25pc of Portugal’s annual power consumption, while the sector could generate €254 million in investment, €280 million in gross value added, €119 million in trade and 1,500 new jobs by 2020, according to the strategy.

“We are proud to be a Partner to CorPower in this industry-advancing project. We strongly believe that the combination of OPS’s extensive experience with composite materials, and CorPower’s advanced technology, will bring this project closer to a successful industrial future.”

…OPS Composite Solutions General Manager Reidar Anderssen concluded.

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