CorPower Ocean and Simply Blue Energy have signed a strategic collaboration agreement to develop several wave energy projects off the coasts of the UK and Ireland.
After Simply Blue Energy completed a comprehensive research project, in collaboration with consultancy Wave Venture, in 2017 to identify the most viable wave energy technologies emerging globally, Simply Blue Energy and CorPower exchanged a memorandum of understanding for further collaboration. The new agreement focuses on the large scale, commercial rollout of wave energy arrays.
Simply Blue Energy has identified a number of development areas suitable for commercial wave energy project deployment. Under this agreement, the company has 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 Energy will also investigate the development and deployment of combined floating wind and wave energy farms. This is to explore opportunities to significantly reduce costs and increase output by dovetailing the variations in resource availability between wind and wave energy.
“We have worked with the team at CorPower over the last 2½ years and they have, during this time, convinced us that they have the ability to bring their technology to the required levels of technical readiness within the timeframes we have agreed,” said Sam Roch-Perks, chief executive officer of Simply Blue Energy. “We are also 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 Ocean brings to market a new type of wave energy converter (WEC). The design principle is inspired by the pumping principles of the human heart and offers five times more energy per ton of device compared to previously known technologies, CorPower says.
Simply Blue Energy is a blue economy project developer that works with the sea to help deliver long-term sustainable projects that include capturing energy through floating wind and wave energy projects.