AW-Energy is a Finnish company which develops renewable energy technology called WaveRoller. WaveRoller generates electricity from ocean waves. The WaveRoller devices are installed under water, approximately 8-20 meters below surface. They utilize horizontal, back-and-forth movement of water, which is present along all the coastlines.
AW-Energy has recently finalized the installation of WaveRoller demonstration power plant in Portugal. This grid connected wave farm consists of three WaveRoller units. Each unit has a generating capacity of 100kW. As of today, AW-Energy is the only company in the world that has successfully delivered and installed a wave farm operating in the open sea environment, connected to grid and consisting of multiple independent wave energy converters of that scale.
The shareholders of AW-Energy are Aura Capital Oy, Fortum Corporation - a major power company in the Nordics, Hytar Oy, John Nurminen Oy, Sitra - the Finnish Innovation Fund and a number of private investors.
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