CorPower Ocean and Simply Blue Energy have signed a Strategic Collaboration Agreement to develop a number of significant wave energy projects off the coasts of the UK and Ireland.
Simply Blue Energy has identified several development areas suitable for commercial wave energy project deployment. Under this Agreement, they have exclusive rights to use CorPower’s technology in the predetermined designated zones and Simply Blue Energy aims to start producing and exporting electricity as early as 2024.
Commenting at the signing of this new Strategic Cooperation Agreement, Sam Roch-Perks, CEO of Simply Blue Energy says, “We have worked with the team at CorPower over the last 2 1/2 years and they have, during this time, convinced us that they have the ability to bring their technology to the required levels of technical readiness within the timeframes we have agreed. We are also excited to explore the possibility of combining floating wind and wave energy to bring balance to the grid which is so important if we are to increase the reliability and viability of renewable energy.”
Simply Blue Energy will also investigate the development and deployment of combined floating wind and wave energy farms. This is to explore opportunities to significantly reduce costs and lower energy prices as well as increase output by dovetailing the variations in resource availability in wind and wave energy.
“We are very excited about the collaboration with Simply Blue Energy which is a dedicated blue economy developer with strong vision and execution capabilities. These commercial projects line up as the next step following our ongoing product verification and certification program. Having a commercial developer investing in projects based on our technology is a significant milestone for CorPower and the wave energy industry as a whole,” says Anders Jansson, Commercial Director, CorPower Ocean.
CorPower has already proven that its revolutionary technology offers a step change in structural efficiency, making it up to ten times more efficient than what is currently available on the market. CorPower is backed by EIT InnoEnergy – the EU innovation engine for sustainable energy across Europe supported by the European Institute of Innovation and Technology (EIT) and the European Union.