EU approval: Seal of Excellence for AW-Energy Oy and its WaveRoller® wave energy project

EU Seal of Excellence

Finland, June 03, 2020: Finnish company, AW-Energy Oy (AWE), the global leading wave energy technology company and developer of WaveRoller®, has received the EU Seal of Excellence award from Horizon 2020, the EU’s research and innovation funding programme. It follows the company’s project submission to the EU’s EIC Accelerator programme.

Christopher Ridgewell, CEO of AW-Energy Oy, says: “We are delighted our project is recognised with the EU Seal of Excellence. It clearly demonstrates recognition of our commercial competence and excellence in innovation, supported by our in-house technical expertise, to deliver a market-ready device that is tested and proven as a near-shore wave energy converter (WEC).”

An international judging panel including business angels, entrepreneurs, venture capitalists and experts from innovation hubs, evaluated AW-Energy’s wave energy project. It was judged to provide strong added-value, being commercially viable and better than existing solutions on the market.

The wave energy sector represents significant opportunities for investment as global energy needs are predicted to rise, combined with the political and social pressure to supply future energy using sustainable, low carbon sources.

Wave energy is itself a highly predictable form of energy, 24/7, 365 days a year, and a CO2-free power source for hundreds of millions of people. AW-Energy’s technology helps to extract energy from waves that are accessible to 80% of the world’s largest cities, which are in coastal areas. Theoretical estimates have recently been published which show global output of wave power to be 29,500 TWh/yr, equivalent to 125% of the current global demand for electricity.

With projects in US, Europe and Asia, AW-Energy expect to see rapid sales for its wave energy technology as governments, operators and energy policy strive for cleaner and more sustainable power generation solutions ahead of next year’s global UN climate talks.

It is leading this transformation across the global wave energy sector with its WaveRoller® technology that will go further and deeper in to the renewables energy mix. It pushes the boundaries with exciting results, and makes a valuable contribution as a hybrid ‘plug-in’ technology to the mix of wind and solar power generation.

The EU Seal of Excellence award recognizes AW-Energy’s technology as a viable solution in the transition to ocean-based renewable energy, and as a way for the sector to create jobs and revenue internationally.

It is also the first marine energy technology to be qualified through certification by Lloyd’s Register to mitigate risks, and provide investors with confidence in the delivery of functional wave energy technology.

ISO 9001 certified quality system by DNV GL

The Solar Impulse Efficient Solution Label

European Commission Seal of Excellence

AW-Energy

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. The company employs a highly professional and efficient team that manages a network of over 100 engineers and technical staff.

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