Objective
Global electricity demand is set to double by 2050, with 90% expected to be generated by RES. Solar PV, wind, and storage are essential but will be insufficient alone to achieve net-zero. With 60% of the global electricity generation today being still dependent on fossil fuels, accelerating the transition to net-zero requires a RES diversification able to supply 24/7 demand for electricity with 100% clean power. Wave energy could supply 10% of the world’s electricity demand, playing a crucial role in a balanced and cost-effective RES mix. However, this potential remains untapped. Historically, wave technologies have either broken in the harsh ocean conditions or have been too large and costly compared to their power output. This has resulted in setbacks related to perceived risk and bankability. Informed by 40 years of hydrodynamic research, CorPower Ocean developed and proven at TRL 7 a unique Wave Energy Converter (WEC) technology that makes devices naturally protected in storms and uses novel control technology that strongly amplifies the power capture in regular waves. This allows to deliver more than 5x as much power per amount of equipment compared to the previous state-of-the-art. High structural efficiency enables simple installation and effective O&M methods, providing a very competitive LCOE-curve to make wave energy a mainstream energy source in the coming years. We design, manufacture, and deliver our technology as CorPack wave clusters with 10-30MW capacity. CorPacks are building blocks that are laid out side-by-side to form utility-scale wave farms (100s of MW to GW-scale). Now, we seek blended support from the EIC to standardize our core WEC technology so it can scale up into wave farms and to develop the engineering package of the CorPack product. The EIC will help us become a turnkey supplier of wave energy systems, reach FID on our first wave farm projects, and support CorPower’s ambitious target of installing 600MW of clean wave energy by 2032.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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HORIZON.3.1 - The European Innovation Council (EIC)
MAIN PROGRAMME
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
HORIZON-EIC-ACC - HORIZON EIC Accelerator
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) HORIZON-EIC-2024-ACCELERATOR-02
See all projects funded under this callCoordinator
Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
126 30 Stockholm
Sweden
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.