Swedish wave energy company CorPower Ocean has reached the finals of the $1 Million Ocean Innovation Prize organized by the Blue Climate Initiative (BCI).
Endorsed by the United Nations Decade of Ocean Science for Sustainable Development 2021-2030, BCI is hosting the Ocean Innovation Prize in conjunction with the Sustainable Ocean Alliance.
The finalists were selected for their impact potential, innovation, commercial and scale potential, capacity and feasibility, alignment with Prize principles, and the value of Prize support.
According to CorPower, the finalists include clean energy and desalination from sea waves and solar technologies, kelp forest restoration and seaweed innovations such as for bioplastics and methane-reducing livestock feed supplements, carbon dioxide removal such as through gasification of algae biomass, electrochemistry and alkalinity enhancement, among others.
“We congratulate the semi-finalists and are thrilled to draw attention to these important and timely innovations to address our climate crisis, using the power of the ocean,” said Stanley Rowland , CEO of the Blue Climate Initiative. “As the current COP26 discussions emphasize, bold action on climate solutions has never been more urgent.”
A High-Level Judges panel will select final winners in early 2022, who will share the $1 million cash prize and be featured at the Blue Climate Summit in May 2022 in French Polynesia.
To remind, CorPower Ocean completed the construction of the world’s largest wave energy test rig this summer after an intense two-year project.
The 45-tonne moving mass system, installed at the company’s Stockholm base, is capable of simulating ocean wave conditions encountered anywhere in the world.
CorPower Ocean was also recently appointed to the European Commission’s renewed Clean Energy Industrial Forum. The aim is to build on valuable work already delivered by the Forum to help achieve the EU Green Deal’s 2030 ambitions.