AW-Energy signs wave tech contract with EU

AW-Energy has signed a $4.4 million contract with the European Union to demonstrate its ocean energy innovation. The Finland-based company is developing a unique and patented wave power technology called WaveRoller.
The contract is the first of its kind under the EU's "CALL FP7 - Demonstration of the Innovative Full Size Systems" project, and provides funding to the new project. The overall goal is to manufacture and install the first grid-connected WaveRoller unit off the coast of Peniche, Portugal, which is known for high wave activity. The total capacity would be 300kW with a one-year testing period, AW-Energy reports.
The project is being led by AW-Energy and involves several European companies including Bosch-Rexroth, ABB, Eneolica and the Wave Energy Center organization. With approval for a site and grid connection and installation, the consortium will bring its skills to the project's demonstration phase.