Growing concern  over global energy supplies and climate change has created a number of political and economical drivers  and strong pressure  to find new renewable energy sources. Wind energy is by far the predominant source of renewable energy and its global market amounts to approx. 45 billion euros (GWEC 2009). However, global ocean energy resources are extensive and ocean energy technology clearly represents the largest untapped business potential within the renewables sector. It has been estimated that ocean wave energy has the potential to contribute 10% of the global electricity demand, with an investment of EUR 820 billion.

Strategy and operational targets

Given unsatisfied demand and extremely favourable growth projections for renewable energy technology, AW-Energy has set aggressive growth targets for the global roll-out of its patented WaveRoller technology..

WaveRoller has now passed the proof of concept stage through extensive marine testing in Peniche, Portugal as well as in EMEC, Scotland. The resulting evidence suggests that WaveRoller has the potential to become a significant driver in making wave energy a mainstream energy source.

Our strategy for achieving our growth targets involves achieving the following milestones:

• Establish  commercial proof for WaveRoller technology by implementing an end-to-end solution capable of producing electricity for  the distribution grid.
• Sustain, continuously develop and defend a strong IPR position. AW-Energy recognizes that  our innovations are highly valuable. Strong IPR protection is therefore essential for successfully executing the strategy and capturing maximum value from the global ocean energy market.
• Form alliances with leading global energy technology companies to roll out the technology. Once the electricity generation potential has been proven with the pilot plant, it is estimated that the demand for WaveRoller technology will exceed the company’s abilities and resources to supply the technology. Therefore strategic alliances are  vital for global roll-out.

AW-Energy is privately held by the founders, personnel and capital investors.
Financing has been provided by
Aura Capital
John Nurminen Oy
Sitra
Fortum

To execute the business plan and achieve the aggressive growth targets, AW-Energy is seeking further venture capital investment from prominent international VC funds with experience in the renewable energy technology market.  We also welcome interest from joint venture partners for demonstration plant implementation in Portugal.

 
Investor Contacts:
John Liljelund, CEO
firstname.lastname@aw-energy.com
 
Ari Siponmaa, Chairman of the Board
firstname.lastname@auratum.com

WaveRoller technology exploits the surge: a strong, ubiquitous and consistent natural ocean phenomenon utilized in energy generation for the first time.

• WaveRoller addresses all well-known pitfalls of current ocean wave energy devices, and  can therefore produce electricity at a significantly lower cost, that even competes with non-renewable energy sources.
• The technology has successfully passed the proof of concept phase with extremely promising results.
• The company now aims for a large scale demonstration plant supplying electricity to the grid during 2010-2011.
• The executive team and board of directors have the necessary experience and skills in technology, business and operational management, and top-level international corporate contacts.

WaveRoller marine testing site in Peniche, Portugal