Finland, 21st March 2024 – AW-Energy, a leading player in the ocean energy sector, announces the successful completion of the 3-year WaveFarm project that was funded by the European Maritime and Fisheries Fund through the Blue Economy Window. This initiative marks a significant milestone in advancing the WaveRoller wave energy converter, paving the way for sustainable and commercially viable wave energy solutions.

Project Overview:
Wave energy, recognized as a valuable and predictable renewable power source, holds the potential to contribute up to 10% of the EU’s energy by 2050. Leveraging the insights gained from successful deployments and innovations of prior projects, the WaveFarm project successfully translated experience into a commercial product family.

Key achievements:
This project represents a pivotal milestone where the hard-won knowledge and experience of the team crystalised into a reliable product that can be deployed around the world. This achievement not only underscores the team’s dedication but also positions the product as a versatile and globally applicable solution, ready to address the growing demand for sustainable and dependable energy sources on a worldwide scale.

The view of developers, owners and operators of wave farm assets are at the core of the solutions implemented through the WaveFarm project. Practical experience gained through full-scale deployments enabled innovations that enhance the energy capture, increase the efficiency, extend the operational lifetime and streamline manufacturing, logistics, installation and maintenance processes. Productisation of the WaveRoller technology now simplifies all phases of a wave farm lifecycle.

Christopher Ridgewell, CEO of AW-Energy, says: “We’re delighted to have successfully completed the WaveFarm project. Our team is committed to ensuring wave energy plays a pivotal role in our global energy mix, which is evident in the improved product family. We were able to incorporate the experience gained through our previous deployments so that our customers can more effectively plug into wave energy.”

About AW-Energy:
AW-Energy is the world-leading Finnish wave energy technology developer. Its flagship product, WaveRoller®, is a submerged wave energy converter based on a hinged panel that is attached to the seabed 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.