Wärtsilä partners with AW-Energy adding wave power generation to its capabilities as energy system integrator

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| Source: Wärtsilä Oyj Abp
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Wärtsilä Corporation, Press release, 12 September 2017 at 3 pm EEST

The technology group Wärtsilä and Finnish-based AW-Energy today announced they had signed a global co-operation agreement covering sales and delivery of WaveRoller, a wave energy technology developed by AW-Energy, on a turn-key basis across the life-cycle.

The co-operation is based on AW-Energy's patented and certified technology and Wärtsilä Energy Solutions' global project execution, services and integration capabilities. Ocean energy is the largest untapped renewable energy source with a potential for hundreds of GWs generation capacity. In addition to the vast resource potential, ocean waves and sea states can be accurately predicted up to days in advance, making it the long awaited addition in the next generation energy mix. Thus, the emerging wave power technology has all the pre-requisites to take an equally sizable and important role with solar and wind in the future. The technology is now at a stage where commercially operating pilot installations can be delivered to customers interested in wave power and the complementary capabilities of both companies pave the way for WaveRoller in commercial roll-out. 

"Wärtsilä strives to bring smart technologies enabling sustainable societies, and AW-Energy is a prominent player in wave power. We have chosen to co-operate with AW-Energy to be at the forefront of this development and to offer wave power solutions to our customers worldwide, as a leading energy solutions provider and system integrator," says Javier Cavada, President, Wärtsilä Energy Solutions.

"Today, WaveRoller is involved in projects with ongoing development in Europe, Americas and Asia and the total pipeline under discussions is circa 300MW including industry flagship projects, spearheading the emerging industry. As the leading player in the wave energy field, it is crucial that we choose partners of the highest credibility and know-how. Cooperation with a world-class technology group like Wärtsilä demonstrates the commercial readiness level of our technology and positions AW-Energy as the frontrunner in the supply and development of wave energy technology," says John Liljelund, CEO of AW-Energy.

The co-operation under the signed agreement will primarily focus on project deliveries. In addition, there is a significant potential for further co-operation between the companies also in other fronts such as technology and life-cycle services. This cooperation announcement comes a few months after Wärtsilä announced it would support the development of the latest WaveRoller wave energy converter.

WaveRoller is a registered trademark of AW-Energy Oy

Link to the AW-Energy logo

For more information, please contact:

Mr Pekka Tolonen
Director, Renewables
Wärtsilä Energy Solutions
Tel: +358 40 343 3411
pekka.tolonen@wartsila.com

Mr John Liljelund
CEO
AW-Energy Oy
Tel: +358 40 068 1061
John.Liljelund@aw-energy.com

Ms Riina Rinkinen
Communications Manager
AW-Energy Oy
Tel: +358 440522938
riina.rinkinen@aw-energy.com

Wärtsilä Energy Solutions in brief
Wärtsilä Energy Solutions is a leading global energy system integrator offering a broad range of environmentally sound solutions. Our offering includes ultra-flexible internal combustion engine based power plants, utility-scale solar PV power plants, energy storage & integration solutions, as well as LNG terminals and distribution systems. The flexible and efficient Wärtsilä solutions provide customers with superior value and enable a transition to a more sustainable and modern energy system. As of 2017, Wärtsilä has 65 GW of installed power plant capacity in 177 countries around the world.
www.smartpowergeneration.com

Wärtsilä in brief
Wärtsilä is a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2016, Wärtsilä's net sales totalled EUR 4.8 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.
www.wartsila.com

AW-Energy in brief
AW-Energy is a pioneer in the green economy and a 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 including e.g. Lloyd's Register, Wärtsilä, DCNS and DNV-GL. The company employs a highly professional and efficient team that manages a network of over 100 engineers and technical staff. It is backed by Fortum, a leading European utility company, Aura Capital, Sitra and the European Investment Bank.
www.aw-energy.com