Portuguese ocean energy consortium launches renews.biz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from renews.biz Daily Mail and Mail on Sunday newspapers.
Wave energy coming to Portugal theportugalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theportugalnews.com Daily Mail and Mail on Sunday newspapers.
CorPower has secured a private placement of €9 million, bringing equity funding to €20.3 million for the commercial scale demonstration of its HiWave-5 project.
External Company Press Release
After securing a private placement of 9 MEUR, CorPower has extended its equity funding to 20.3 MEUR, for the commercial scale demonstration of its wave energy technology. The investment round was led by Midroc New Technology and included SEB Greentech VC, family offices and private investors. Pareto Securities acted as Sole Manager and Bookrunner in the transaction.
The 9 MEUR investment announced today combined with previous tranches of 9 MEUR in July 2020 and 2.3 MEUR in December 2018 brings total equity funding to support the demonstration of CorPower s first commercial scale WEC in the flagship HiWave-5project - and its long-term development of supply and service capacity for commercial wave farms to 20.3 MEUR.