AW-Energy
AW-Energy Oy is a Finnish company that has developed and patented a groundbreaking concept and product design, the WaveRoller, for the generation of electricity from surge, a well known form of ocean (WAVE) energy. The patented WaveRoller technology is well positioned to dominate the invisible near shore surge based ocean energy applications area, as AW-Energy is the first company that realized the potential of the surge phenomenon. Thousands of km’s of sea shore is available for surge based Ocean Energy production. It can be estimated that this represents tens of billions of EUR market potential. The company has secured a first phase financing from leading Finnish early stage investors and Fortum Oyj, a major Scandinavian utility.
Since founding the company in 2002 AW-Energy has conducted extensive R&D and prototyping of the technology. Marine tests at our own test site in Peniche, Portugal have evidenced the energy generation potential of surge phenomenon and WaveRoller’s suitability in converting this energy source into electricity.
The key operational milestone is the accomplishment of a 300 kW demonstration plant in Peniche, Portugal (during 2010 – 2011). The company possesses all the necessary permissions to complete the operation, including installation and 1MW grid connection license.
More information: www.aw-energy.com
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