Finnish wave energy company Wello has signed a contract with the Chinese conglomerate CIMC. The partnership begins with a joint research phase to define an optimized Penguin Wave Energy Converter design for Chinese waters. The wave climate is slightly milder around China compared to Northern Atlantic waters, where the Penguin technology has been developed and verified.
Courtesy of Wello
The next phase involves establishment of a demonstration site in China. This project will prove and confirm the suitability of Wello’s technology for Chinese needs and simultaneously for all other sites around the globe with similar wave climates.
The most important phase of the contract is the continuation of projects. Wello and CIMC aim for projects around China to fulfill the constantly growing energy needs in the country while simultaneously pursuing a transition away from coal and imported fossil fuels.
Wello’s CEO Heikki Paakkinen, said, “Wello’s team and financers have spent a vast amount of effort during the previous 10 years to develop this extraordinary technology. Now we are in a position to harvest the results.”