Finnish wave energy developer, AW Energy, has been shortlisted for the 2015 Red Herring Global Award.
The Red Herring Top 100 award highlights the top private companies from Asia, Europe and the Americas.
The winners will be announced on November 19, 2015, at Red Herring Global in Los Angeles.
AW Energy has developed the WaveRoller wave energy device that works when the back and forth movement of water driven by wave surge puts the panel into motion, which triggers the hydraulic piston, attached to the panel, to pump the hydraulic fluids inside a closed hydraulic circuit.
The high-pressure fluids are fed into a hydraulic motor that drives an electricity generator, producing electricity, which is then fed to the grid via subsea cable.
Red Herring is a media company that reports about the global innovation economy, and the emerging technologies.
Image: AW Energy