CorPower Ocean announces Acario and GTT Group as strategic investors

Wave energy developer CorPower Ocean has secured two new strategic investors as part of its Series B funding round.

The investors include Acario, the Silicon Valley-based venture investment arm of Tokyo Gas, and GTT Strategic Ventures, the investment fund of French technology and engineering group GTT.

The investment builds on CorPower Ocean’s earlier €32 million ($37 million) Series B1 raise.

Tokyo Gas, one of Japan’s largest energy utilities and a major investor in renewable energy, and GTT Group, a global leader in cryogenic technologies for liquefied gas transport, bring strong industrial alignment and engineering expertise to CorPower Ocean’s commercial scale-up journey.

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Patrik Möller, CEO and co-founder of CorPower Ocean, commented: "We are delighted to welcome GTT and Tokyo Gas via Acario as shareholders. They bring significant engineering and industrial scale-up expertise, and we are looking forward to having their support in making wave energy a mainstream energy source. The potential of co-locating CorPack wave arrays with offshore wind and solar installations around the world to enable 24/7 clean power is a major opportunity that we are excited to develop together with strong partners."

Acario, the venture investment division of Tokyo Gas, backs technology companies that are shaping the new energy economy. Acario focuses on the commercialisation of solutions that accelerate decarbonisation, systems optimisation, and energy resilience while supporting expansion into new services that meet the evolving needs of all stakeholders in the energy sector.

GTT Strategic Ventures is the investment arm of GTT (Gaztransport & Technigaz). Through GTT Strategic Ventures, the Group invests in breakthrough technologies that complement its core expertise and drive the development of next-generation energy solutions.

Hélène Loncin, head of GTT Strategic Ventures, said: "We are proud to support CorPower Ocean in its mission to unlock the vast potential of wave energy...This investment reflects GTT’s commitment to fostering pioneering technologies that contribute to a sustainable energy future."

Kenji Maeda, CEO of Acario, said: “We are excited to join CorPower Ocean and support the goal of realising wave energy as a stable utility scale renewable resource globally. The ocean demonstrates incredible potential to meet the world’s rapidly growing need for clean energy and energy security..."

Due to its uniquely consistent and complementary power profile, wave energy helps stabilise output from solar and wind, unlocking 24/7 renewables at lower cost.

CorPower Ocean highlights that studies show a clean energy mix including wave energy typically requires less than half the installed capacity, half the grid infrastructure, and 20–50% less storage compared to a cost-optimal system based solely on solar and wind.