The two companies have signed a Strategic Collaboration Agreement outlining their commitment to exclusive co-operation on the development and deployment of Corpower’s commercial wave energy technology in designated zones around the coasts of the UK and Ireland; with the aim of producing electricity for commercial export by 2024. Simply Blue Energyand CorPower have collaborated before; in 2017 they signed a Memorandum of Understanding for future joint development projects.

Anders Jansson, Commercial Director of CorPower Ocean, said: “We are very excited about the collaboration with Simply Blue Energy, which is a dedicated blue economy developer with strong vision and execution capabilities. These commercial projects line up as the next step following our ongoing product verification and certification program. Having a commercial developer investing in projects based on our technology is a significant milestone for CorPower and the wave energy industry as a whole.”

Simply Blue Energy, which has identified a number of areas for potential development, further intends to explore the potential of floating energy farms combining wind and wave energy. Under the terms of the Strategic Collaboration Agreement, Simply Blue Energy will retain the exclusive right to use CorPower’s proprietary technology within defined zones.

Simply Blue Energy CEO Sam Roch-Perks said: “We have worked with the team at CorPower over the last two and a half 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. 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.”