CorPower Ocean and OPS Composite Solutions are ready to deliver an âindustry advancingâ wave energy project after securing close to âŹ500K from EEA Grants.
The Portuguese-Swedish wave energy developer and Norwegian engineering firm will join forces for the COMPACT (COMposite Pressure cAsing for CosT) Project, combining wave energy technology with low-cost composite design and fabrication processes from the offshore industry.
Financial backing comes from Iceland, Liechtenstein and Norway under the EEA Grants âBlue Growth Programmeâ â which is committed to stimulating âblue economyâ innovation, creating jobs and driving growth for SMEs.
The COMPACT Project aims to boost the performance and slash costs of CorPowerâs next generation WECs (Wave Energy Converters), which will shortly enter the flagship HiWave-5 demonstration phase in northern Portugal.
âThe COMPACT project combines CorPowerâs world-class WEC design knowledge with OPSâ vast e xperience in composite pressure vessels for offshore applications,â he said. âTogether we are aiming to develop new technology addressing two common challenges experienced in state-of-the-art wave energy technology â weight and price.
âThe process will involve developing, testing, manufacturing and certifying an innovative light-weight pressure casing (cylinder), which is a key component of our WEC system. By making the WEC significantly lighter and using cost-effective materials and production technology, the COMPACT solution aims to increase energy efficiency while decreasing cost of energy.â
CorPower Portugal country manager Miguel Silva.
âWe are proud to be a Partner to CorPower in this industry-advancing project. We strongly believe that the combination of OPSâs extensive experience with composite materials, and CorPowerâs advanced technology, will bring this project closer to a successful industrial future.â
OPS Composite Solutions general manager Reidar Anderssen.
The COMPACT Project will actively contribute to the Portuguese Industrial Strategy for Ocean Renewable Energies. Ocean renewable energy has the potential to supply 25pc of Portugalâs annual power consumption, while the sector could generate âŹ254 million in investment, âŹ280 million in gross value added, âŹ119 million in trade and 1,500 new jobs by 2020, according to the strategy.