The certificate was presented in person by LR’s Senior Vice President of Clean Energy and Innovation, Tristan Chapman, to Sami Tuhkanen, Chairperson of AW-Energy on January 16, 2020.

Finland, January 16, 2020: AW-Energy Oy, a leader in near-shore wave energy, has today received its certification by Lloyd's Register (LR) for its WaveRoller® device. It has been awarded following previous certifications by LR through the Technology Qualification certificate process laid out in DNV-OSS-312 Certification of Tidal and Wave Energy Converters.

The certificate was presented in person by LR's Senior Vice President of Clean Energy and Innovation, Tristan Chapman, to Sami Tuhkanen, Chairperson of AW-Energy on January 16, 2020.

"We are delighted with the certification for our WaveRoller® technology," says Tuhkanen. "It reflects the journey we have taken from just a few years ago when LR awarded us our Technology Qualification Certificate for our WaveRoller® design, and the first ocean energy converter to reach this level of validation by LR. The level of involvement with LR on our technology for the renewables industry has been very thorough and a valuable process to validate our key goals in safety, reliability and availability for the unit. We are delighted with today's news which will open the door for wide scale commercial deployment in the UK and worldwide."

Working to rigorous technical standards in collaboration with LR, AW-Energy committed to follow best practice from corresponding industries. It has helped to secure the first-of-a-kind grid connection with the WaveRoller® device deployed off the coast of Peniche in Portugal.

LR's Chapman says: "The technology that AW-Energy has developed pushes the boundaries with exciting results. Deriving energy from the ocean provides a sustainable way to develop grid-compatible power in many locations around the world. An important step in scaling the solution is to manage the risks and evidence that technology will achieve its objectives and perform how it's meant to. We're pleased LR could deliver this confidence to AW-Energy through our goal-based Technology Qualification process."

WaveRoller® is a near-shore wave energy converter, mounted to the seabed with a panel that oscillates with the wave surge. It paves the way to commercialisation for the wave energy industry and with ongoing projects in Europe and Asia, AW-Energy expects to see rapid growth for its product as governments, operators and energy policy strive for cleaner and more sustainable power generation solutions ahead of this year's global COP26 in Glasgow, UK.

Christopher Ridgewell, CEO, AW-Energy, highlights: "Cooperation with strong industrial partners such as LR made this possible. It helped our team ensure excellence in critical areas and gives us the confidence to now deliver functional wave energy technology. The device combines advances in software, power control, and storage making it a highly attractive commercial proposition for operators."

Wave energy is a significant untapped global resource of clean renewable energy and has a potential greater than the capacity of all the installed fossil fuel plants in Europe combined. As the world begins to look at broadening the energy mix with sustainable forms of renewable energy offering cleaner and lower emitting energy solutions, wave energy offers a highly predictable source of energy, and can make a valuable contribution to the mix of wind and solar power generation.

The Finnish company is leading this new era of energy innovation to ensure power generation from wave energy is bankable with its certified WaveRoller® technology. Once the device is deployed offshore it has minimal visual impact and has been proven to help create artificial bases for reef ecosystems to flourish.

About AW-Energy Oy and WaveRoller®
AW-Energy Oy is a pioneer in the green economy and is the 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.

Discover more at www.aw-energy.com. Follow us on Twitter @WRoller.