Swedish company CorPower Ocean has been chosen to join the EIC Scaling Club, an EU-backed community of 100+ European high-growth deep-tech champions and their partners.
Supported by the European Innovation Council, a flagship program of the European Commission with a budget exceeding €10 billion, the EIC Scaling Club aims to increase the value of chosen businesses and enhance their global impact.
On March 28, 2024, the EIC Scaling Club revealed its first pick of 48 European deep-tech scale-ups to join its community, including CorPower Ocean.
A total of ten market sectors have been recognized as pivotal for positive impact, with Clean Fuels & Hydrogen, New Space Tech, and New Biotech Platforms among them.
EIC Scaling Club will aid CorPower Ocean and other selected deep-tech scale-ups with fundraising support, leadership mentoring, corporate partnership identification, media visibility, recruitment, and additional assistance.
According to the company, CorPower Ocean will join a community expected to expand to over 120 deep tech champions soon, supported by investment firms, corporations, media representatives, vetted business mentors, and other industry stakeholders through the EIC Scaling Club.
“On behalf of all the partners working together to turn the EIC Scaling Club into a ‘catalyst for scale’, we welcome the first 48 companies into the fold and are delighted that CorPower Ocean is part of the mix,” said William Stevens , co-founder and group managing director of Tech Tour, coordinator of the EIC Scaling Club.
“In unison with our investor, corporate, mentor and media stakeholder members, we will ensure that the selected deep tech companies derive as much value for their businesses as possible, as fast as possible.”
Recently, CorPower Ocean’s C4 wave energy converter (WEC) completed the first cycle of the ocean commissioning program at the Agucadoura site in northern Portugal.