Strategy and operational targets

Given the unsatisfied demand and extremely favourable growth projections for renewable energy technology, the company has set quite 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 EMEC, Scotland as well as in Ecuador. This evidence suggests that WaveRoller has the potential to be a significant driver in making wave energy a truly mainstream energy source. The strategy for achieving the growth targets consists of the following milestones:

• Establish a commercial proof for the WaveRoller technology by implementing an end-to-end solution capable of producing electricity to the grid.
  
  
• Sustain, continuously develop and defend a strong IPR position.
  AW-Energy recognises that the company’s innovations carry a huge value and an essential requirement for successfully executing the strategy and capturing maximum value from the global ocean energy market is strong protection of the IPR.
  
  
• 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 sought in global roll-out.

Discussions with key stakeholders and concrete activities for the pilot plant are currently in good progress.