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.
Courtesy of CorPower Ocean
The two parties signed a memorandum of understanding after Simply Blue completed a comprehensive research project in 2017, in collaboration with consultancy Wave Venture, to identify the most viable wave energy technologies emerging globally. This has now materialized into a strategic collaboration agreement focusing on the large scale, commercial roll out of wave energy arrays.
Simply Blue has identified a number of development areas suitable for commercial wave energy project deployment. Under this agreement, they have exclusive rights to use CorPower’s technology in the designated zones and aim to start producing and exporting electricity as early as 2024. According to the agreement CorPower reserves supply capacity for the respective projects.
Simply Blue will also investigate the development and deployment of combined floating wind and wave energy farms to explore opportunities to significantly reduce costs as well as increase output by dovetailing the variations in resource availability between wind and wave energy.
Commenting at the signing of the agreement, Sam Roch-Perks, CEO of Simply Blue Energy said, “We are 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”.
CorPower has already proven that its technology offers a step change in structural efficiency, making it up to five times more efficient than what is currently available on the market.
“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” said Anders Jansson, Commercial Director, CorPower Ocean.