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AW-Energy first wave energy company to receive major funding through new EU project

AW-Energy Ltd, a Finnish cleantech company that is developing a unique and patented wave energytechnology under the brand name of WaveRoller, has signed a EUR 3 million contract with The EuropeanUnion to demonstrate its technology.

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AW-Energy Ltd, a Finnish cleantech company that is developing a unique and patented wave energytechnology under the brand name of WaveRoller, has signed a EUR 3 million contract with The EuropeanUnion to demonstrate its technology. The global ocean energy resources are enormous. Ocean energytechnology represents the largest untapped business potential within the renewables sector.

The contract between AW-Energy and the EU is the first one under the so called CALL FP7 -Demonstrationof the innovative full size systems. Several of the leading wave energy developing companies participatedto the CALL. The contract itself includes EUR 3 million grant agreement, which gives a significant support tothe demonstration project.

AW-Energy leads the “Dream Team” -consortium in Portugal

The goal of the project is to manufacture and deploy the first grid-connected WaveRoller unit in thePortuguese waters. The exact installation site is located near to the town of Peniche which is famous of itswave resources. It is also known as “Capital da Ondas” (“Capital of the waves”). The nominal capacity of theWaveRoller unit is around 300 kW and project includes also one year testing period.

The consortium lead by AW-Energy includes companies from Finland, Portugal, Germany and Belgium.Industrial heavy weights like Bosch-Rexroth and ABB are together with renewable energy operatorEneolica and wave energy specialist Wave Energy Center delivering their best know-how to ensuresuccessful implementation of the project.

– The experience of the “Dream Team” consortium will be a significant asset to the project and I amthrilled about this real Pan European co-operation. The company has been working really hard lastthree years with the two sea installed prototypes, tank testing and CFD simulations. Now we havethe site, grid connection permission, installation license and most importantly the technology itselfready for the demonstration phase, says Mr. John Liljelund, CEO of AW-Energy.

Additional information

John Liljelund, CEO, AW-Energy Ltd
John.liljelund@aw-energy.com, Tel. +358 400 681 061

AW-Energy Ltd is a Finnish cleantech company that has developed and patented a groundbreakingconcept and product design, the WaveRoller, for the generation of electricity from surge, a wellknown form of ocean (WAVE) energy. AW-Energy is privately held by the founders, personnel andventure capital investors. Financing has been provided by Aura Capital, JN Uljas, Sitra and Fortum.

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