About us




Early development

1993 - The power in the wave surge is observed by the diver and inventor Rauno Koivusaari during a dive on the Finnish coast. He sees the strong back-and-forth movement of a large hatch in a shipwreck and realizes that the power could be harnessed.

1999 - The first groundbreaking proof-of-concept panel prototypes are installed in the sea by Rauno and his small team of enthusiastic experts. The first devices validated the concept of utilizing wave power by pumping seawater on shore.

2000-2004 - The behavior and energy production of the WaveRoller panel is tested and analytically verified at a laboratory. The development of a PTO system starts, and first patent applications related to the technology are filed.

Pre-commercial development

2005 - A small-scale wave farms are installed at ocean sites in Scotland and Ecuador. The prototypes provide a wealth of information to the team related to survivability and operation in different ocean environments.

2007 - A 1:4 scale prototype WaveRoller is installed at a fully exposed ocean site in Portugal. After four months of operation, the device is lifted and fitted with an upgraded PTO before returning to the sea. The hydraulic PTO concept is proven to work in wave energy conversion.

2010-2014 - AW-Energy wins EU funding and leads a consortium to build, install and operate a 1:2 scale demonstration WaveRoller in Portugal over the period of three years. The demonstration WaveRoller includes three panels installed on a single steel foundation and verifies its power production and the patented WaveRoller deployment method.

Commercial developments

2015 - A full-size PTO test facility is opened in Järvenpää by the President of the Republic of Finland. The test facility is used to test and optimize the commercial WaveRoller devices. The WaveRoller team increases in size to include experts on several related fields.

2016-2017 - AW-Energy grows its supplier network and the first commercial WaveRoller is created alongside a rigorous technology qualification process validated by Lloyd’s Register. The WaveRoller is manufactured, assembled, tested and certified in several locations around Europe.

2018 - AW-Energy’s story continues with exciting milestones on the journey towards our vision of unlocking the largest untapped resource within the renewables sector – wave energy.



Waveroller Product Certification

In order to make sure that the First-of-a-Kind (FOAK) WaveRoller wave energy converter can reliably meet the requirements of both customers and authorities, AW-Energy has undertaken a rigorous product certification programme with the reputable Lloyd’s Register Energy.

The product certification will ensure that the FOAK WaveRoller is meticulously designed and manufactured according to the industry codes and standards and will meet the requirements set for it at the beginning of the programme. In addition to the obvious technical advantages, certification will optimise project financing and insurance coverage on a commercial basis.

The product certification is carried out according to the acknowledged certification and technology qualification standards DNV-RP-A203, DNV-DSS-401, and DNV-OSS-312. The product certification performed by AW-Energy and Lloyd’s Register includes five certificates. Each certificate will only be granted by Lloyd’s Register once it is assured that the requirements for the certificate have been met.



We continue to build and develop our product, projects and sales globally through cooperation with various companies and organizations. AW-Energy aims to work only with the best operators in each field, and we build our partnership network with care. Together with our international partners that share our vision we can deliver WaveRoller, a reliable solution to plug into wave energy. If you would like to partner with Team WaveRoller, please contact us.

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To achieve its goals, AW-Energy has received strong support from reputable investors who share our vision. Current investors backing AW-Energy include (listed in alphabetical order) Aura Capital, Fortum, John Nurminen Oy, Sitra. We are also proud to have received financing from the European Investment Bank, the world’s largest multilateral borrower and lender, after a thorough evaluation.

Extensive CAR-EAR (Contractor’s All Risks and Erection All Risks) project insurance programs are available for the WaveRoller technology. WaveRoller projects have a solid track record of securing an extensive insurance coverage through A-rated insurance companies. The scope of the insurance includes construction, erection, installation, operation, testing, commissioning and maintenance works and all other activities related to/and or associated with the WaveRoller projects. If you wish to know more about WaveRoller and insurance coverage, please contact us.


AW-Energy is a pioneer in the green economy and is the global leader in wave energy technology. Its flagship product, WaveRoller®, is a submerged wave energy converter based on a hinged panel that is attached to the sea bed in the near shore area. It generates electricity from the movement of the waves (surge phenomenon) and is connected to the electric grid onshore. The company is based in Finland, and operates in multiple continents cooperating with strong industrial partners including e.g. Lloyd's Register, Wärtsilä, DCNS and DNV-GL. The company employs a highly professional and efficient team that manages a network of over 100 engineers and technical staff.