AW Energy OY Overview
Company Headquarters: Jarvenpaa, Finland
Founded: 2002
Workforce: ~150
Company Working: AW Energy OY is engaged in manufacturing equipment for harnessing wave energy. Its flagship product, the Waveroller, is a submerged wave energy harnessing technology, which is based on a hinged panel that is attached to the sea bed. This technology generates electricity from the surge phenomenon of sea waves.
The company’s manufacturing facility is located in Finland. It has collaborated with many major industrial companies including Lloyds Register Group Services Limited (UK), Wartsila (Finland), and DNV GL (Norway).
Strategy
AW Energy OY has adopted collaboration strategy to develop and innovate its products and services. For instance, it collaborated with Queen’s University (Canada) for funding from the MaRINET2 program to conduct numerous tests on the Waveroller. The tests were conducted for six months between April 2018 and October 2018. Currently, the company is focused on R&D as product development will increase sales and also attract funding from numerous organizations, which will be highly beneficial for the growth of the company in the next few years.
