With projects in the U.S., Europe and Asia, AWE expects to see rapid growth for its technology ahead of next year’s global UN climate talks.
WaveRoller technology has been developed over several years with a robust capital stimulus and dynamic team allowing for more technology and system advances than most other companies in its sector. It has been able to reach demonstrable milestones with the advanced in-house engineering and technology-based expertise.
Today, it represents much more than a pure start-up, with technology that is tested and proven as a near-shore wave energy converter (WEC). It is mounted to the seabed with a panel that oscillates with the wave surge to derive energy from the ocean – a sustainable way to develop grid-compatible power in many locations around the world.
Recent accomplishments and validation for AWE’s technology include:
Wave energy is highly predictable and is a CO2-free power source for hundreds of millions of people. Waves are accessible to 80% of the world’s largest cities, which are in coastal areas. The estimated theoretical global output of wave power is 29,500 TWh/year, equivalent to 125% of the current global demand for electricity.
AWE is now raising growth capital as it approaches the start of its first commercial installations in 2021.
AWE has retained the services of Fredericks Michael & Co. to provide assistance in the process of identifying and approaching strategic partners, and financial investors, to support AWE’s future growth capital needs.