LONDON (Reuters) -Sweden-based wave energy technology company CorPower Ocean said on Thursday it had secured two new strategic investors as part of its latest funding round. The investors are an
CorPower Ocean Attracts New Investors in Wave Energy Funding Round
CorPower Ocean's Latest Funding Round
LONDON (Reuters) -Sweden-based wave energy technology company CorPower Ocean said on Thursday it had secured two new strategic investors as part of its latest funding round.
New Strategic Investors
The investors are an investment arm of Japanese energy utility Tokyo Gas and GTT Strategic Ventures, the investment fund of French technology group GTT.
Funding Details and Technology Development
CorPower Ocean said the investment amounts are not made public.
Investment Breakdown
The two companies join other investors, including clean tech firms NordicNinja VC, SEB Greentech, InnoEnergy, and investment companies Cisco Investments, Santander Asset Management and Iberis Capital, CorPower Ocean said.
CorPower Ocean is developing demonstration-scale wave energy projects in Europe, which are still in the early development stages.
"CorPower Ocean has now secured 118 million euros ($137 million) in funding from private and public investors and successfully demonstrated four generations of its unique technology," Patrik Möller, the company's chief executive told Reuters.
Around half of that is from public funding and the remainder from equity investors, he added.
($1 = 0.8628 euros)
(Reporting by Nina Chestney; Editing by Sharon Singleton)
