Has wave energy finally found its golden buoy?

Swedish startup CorPower has secured the largest investment in a wave energy startup.

The giant buoy turns the raw power of the ocean into a clean, reliable electricity source.

CorPower claims its tech is at least five times more efficient than the previous state-of-the-art.

Last year wave energy devices only generated about 1MW of Europe ’s total electricity.

Europe has invested over 375mn in ocean energy R&D over the past 10 years .

While the continent is still the world leader in wave energy, the US and China are catching up fast.

US senate proposed the Marine Energy Bill , which, if passed, would make a record $1bn available for the commercialisation of ocean power technologies like wave and tidal energy converters.

CorPower is taking a nimble, high-tech approach to manufacturing.

The C4 ’s hull is built by a robot that adds layer upon layer of metal filament to make a lightweight composite structure.

The buoy is tethered to the seafloor using a specially designed UKMACK anchor that is three times lighter than a conventional monopile.