The European Commission’s research and innovation programme Horizon 2020 has granted €17 million in funding for the Clean Energy From Ocean Waves (CEFOW) research project being co-ordinated by Fortum. The mission of the five-year project is to research and develop the use of the Penguin wave energy converter, developed by the Finnish company Wello, in electricity grid connected ocean conditions. The multi-device test project will be carried out at Wave Hub, the wave power-focused test centre, located in Cornwall, UK, where Fortum has a leased an area of sea.
In the project, Finnish wave power technology is being developed and operated in collaboration with British and Swedish experts. The EU’s €17 million is contributing to a project total budget of €24.5 million.
In addition to Fortum, the joint project consists of Wello Ltd, Mojo Maritime Ltd, Wave Hub Ltd, Green Marine (UK) Ltd, Uppsala University, Plymouth University and the University of Exeter.
"Wave power may play an important role in the future as an emissions-free energy production form, and that is why Fortum is participating in the research and development efforts. By this project we are expecting to increase our capabilities and skills in the field of wave power.  We believe that the funding from the European Commission and the experienced collaboration partners create excellent conditions for making great strides forward in commercialising Wello’s wave power technology," commented Heli Antila, chief technology officer at Fortum. "On a global scale, this project is at the vanguard of wave power research."