In recent times the global energy market has been characterized by a widening gap between surging demand and restricted supply. At the same time, carbon emissions from non-renewable energy sources are high-priority items on political agendas, prompting governments and businesses to invest more in finding new, renewable sources of energy.
This urgeny of the search for clean energy is clearly reflected in the level of investments flowing into the renewables sector. 2010 saw a continued increase in investments into renewable energies1. A combination of stimulus package funds making their way into the market, the introduction of smart policies like feed-in tariffs and target-setting sparked a record USD 211 billion of investmenst in renewable energy. The year 2011 was one of continued insecurity on financial markets. Despite the uncertainties, new global investments in renewable power and fuels increased to a record USD 257 billion2.
Given the market conditions and the increasing maturity of wind and solar energy technologies, there is a strong demand for the commercialization of fresh renewable energy technologies - these primarily include ocean energy technologies of which wave energy is among the most prominent. These new technologies are not only benefiting from fast growth prospects at the commercial stage, but are also strongly supported with targeted grants, funds and incentives.
Given the unsatisfied demand and extremely favourable growth projections for renewable energy technology, AW-Energy has set an aggressive growth target for the global roll-out of its patented WaveRoller technology. WaveRoller has now passed the proof of concept stage through extensive marine testing (see the Company History) in Peniche, Portugal as well as in EMEC, Scotland. The resulting evidence indicates that WaveRoller has the potential for becoming a significant driver in making wave energy a mainstream energy source.
Current investors backing AW-Energy include (listed in alphabetical order) Aura Capital, Fortum, John Nurminen Oy, Sitra. See also Companies and Organizations that work with us.
John Liljelund, CEO
firstname.lastname [at] aw-energy.com
Per Langer, Chairman of the Board of Directors
firstname.lastname [at] fortum.com
1 Bloomerg New Energy Finance: ”GLOBAL TRENDS IN RENEWABLE ENERGY INVESTMENT 2011 - Analysis of Trends and Issues in the Financing of Renewable Energy”
2 REN21: ”Renewables 2012 - Global Status Report"