CorPower Ocean Secures Strategic Investments from Acario (Tokyo Gas) and GTT Group

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, have joined CorPower Ocean’s Series B funding round as strategic investors.

This new investment builds upon CorPower Ocean’s earlier €32 million Series B1 raise, aiming to advance wave energy as a significant and bankable source of clean electricity.

Tokyo Gas, a major Japanese energy utility with a focus on renewable energy, and GTT Group, known for its cryogenic technologies for liquefied gas transport, contribute industrial alignment, engineering expertise, and global credibility to CorPower Ocean’s commercialization efforts. These new investors join an existing consortium that includes NordicNinja VC, SEB Greentech, InnoEnergy, Cisco Investments, Santander Asset Management, and Iberis Capital.

Tokyo Gas serves approximately 13 million customers in Japan and has expanded into a globally diversified energy and solutions provider, including over 4 million electricity customers. The company has committed to net-zero emissions by 2050. Its venture division, Acario, invests in technology companies that support the new energy economy, focusing on solutions for decarbonization, systems optimization, and energy resilience.

GTT Strategic Ventures is the investment arm of GTT (Gaztransport & Technigaz), a global leader in membrane containment systems for liquefied gases. GTT’s history spans over 60 years in developing advanced technologies for LNG carriers, floating terminals, and onshore storage. Through its venture fund, GTT Strategic Ventures invests in breakthrough technologies that complement its core expertise and drive next-generation energy solutions, particularly in clean tech and climate tech.

Patrik Möller, CEO and Co-founder of CorPower Ocean, stated, “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.”

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. As a clean, ocean-based power source, wave energy can play a critical role in addressing key challenges of the energy transition – from ensuring the availability of green electricity to enabling local production and supporting grid balancing. This investment reflects GTT’s commitment to fostering pioneering technologies that contribute to a sustainable energy future.”

Kenji Maeda, CEO of Acario, added, “We are excited to join CorPower Ocean and support the goal of realizing 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. CorPower Ocean is in a unique position to fulfil this opportunity by delivering high-capacity factor clean power at an affordable cost – with high reliability. Our participation demonstrates Acario’s dedication to supporting remarkable innovators that are building the future of energy systems.”

Wave energy is increasingly recognized as a strategic technology that can provide a low-cost, clean, and consistent power mix. The UK recently demonstrated its interest by establishing a new Marine Energy Taskforce, supported by the Crown Estate and Crown Estate Scotland. This taskforce aims to leverage the region’s estimated 25 GW wave and 11 GW tidal potential through a strategic roadmap covering site development, financing, innovation, and supply chain growth.

Wave energy offers a uniquely consistent and complementary power profile, which can help stabilize output from intermittent sources like solar and wind, facilitating 24/7 renewable power at a reduced cost. Studies indicate that an energy mix incorporating wave energy typically requires less than half the installed capacity, half the grid infrastructure, and 20–50% less storage compared to systems relying solely on solar and wind. Furthermore, wave energy is projected to deliver significantly lower costs at scale and deploy faster than nuclear power. With over 500 GW of accessible global wave energy potential, this resource rivals the entire installed capacity of hydropower or nuclear.

As fossil fuels continue to account for over 80% of global energy supply, the demand for continuous clean energy solutions is pressing. Wave energy presents a pathway to replace fossil fuels, enhance energy independence, and meet the growing need for stable, carbon-free electricity across various sectors, from data centers and heavy industry to national grids.