Due to the EU loan of €10 million from the new InnovFin Demo Project Facility, it will be enabled a project which contains the importance of conversion of wave energy into electrical power, which could be a major step forward in the quest to find new sources of sustainable energy.

The Finnish company AW-Energy will build a full-scale demonstration unit of their WaveRoller concept in Portugal. Additionally, the loan, provided by the European Investment Bank (EIB) and backed by the EU’s research and innovation funding programme Horizon 2020, is the first under the InnovFin Energy Demo Project, an innovative, sectoral debt facility which aims to support projects that are commercially promising, but are deemed technologically risky.

EU Commissioner for Research, Science and Innovation, Carlos Moedas, said: “An investment in renewable energy technologies is an investment in Europe’s leadership of these new industries. We want to support renewable energy pioneers to contribute solutions to global climate change challenges, while generating employment and sustainable economic growth at home in Europe.”

Commissioner Moedas, EIB Vice President Jan Vapaavuori and CEO of AW-Energy John Liljelundwill sign the loan agreement this afternoon in Brussels. The signing ceremony will take place in the Berlaymont building.

The WaveRoller technology, already supported with EU funding in the SURGE project under the Seventh Framework Programme, the predecessor of Horizon 2020, aims at bridging the gap between a demonstration installation and commercial deployment of a near-shore Oscillating Wave Surge Converter (OWSC) device that converts wave energy into electrical power. AW-Energy has been operating three 100kW prototype units connected to the grid near Peniche in Portugal since 2012. With the support of the new loan of €10 million, it plans to install a full-scale 350kW demonstration device in the same area in 2016. The total project cost is €19 million.

Several innovative ocean energy technologies are being developed but they face obstacles on the way to the market, because of concerns that they may fail to become competitive. The Oscillating Wave Surge Converter, to be demonstrated under the WaveRoller project, shows promising potential. The global market potential for this kind of application is high, estimated at over 200 GW based on feasible sites identified around the world. The project, which spans a five year period, has already stimulated commercial interest in six countries. Collectively, they aim to sell over 50 units in the first four years of operation.

AW-Energy Ltd is a Finnish company developing the patented WaveRoller concept and product design. The WaveRoller is the first device to utilize the well known form of ocean wave energy – the surge phenomenon (Learn more about Wave Surge). AW-Energy is privately held by the founders, personnel and capital investors

To kept up with the time of the technologies, the EU Parliament voted for a simpler and more stringent A to G scale for the energy labels, which shows the energy efficiency of the household appliances.

While the proposal was discussed, MEPs mentioned that the most appliances on the market now meet the ‘class A’. The ‘A’ requirement was first set in 2010 and in the subsequent years, they only added more pluses (A+, A++, A+++). Setting tougher requirements will create incentives to improve energy efficiency still further, they argue.

“Today´s vote gave new life to the Energy Efficiency Label, making the labelling system stronger, safer, clearer and future-oriented. Innovations such as the database, the Quick Response code and above all the reference to smart appliances set the framework for a new ´energy label 2.0´” said rapporteur Dario Tamburrano (EFDD, IT) after the vote.

“Rescaled labels for existing product groups” should be introduced within 21 months and 6 years (depending on product type) of the entry into force of the legislation, so as “to ensure a homogenous A-G scale”, says the amended text. Any future rescale should aim for validity of at least 10 years and be triggered when 25 percent of products sold on  the EU market fall into the top energy efficiency class A, or when 50 percent of these products fall into the top two energy efficiency classes A+B.

MEPs makes clear that at first the class A,(and in product groups showing rapid technological progress, classes A and B), should be empty before introducing new rescaling or labelling.

When energy classes F and G are not allowed for certain product groups, these should be shown on the label in grey, and the standard dark green to red spectrum of the label should cover A-E, they add.

The label should contain information about the energy efficiency class of the product model and its absolute consumption in kWh, displayed per year or per “any relevant period of time”, says the text.

The testing methods and environment, “both for suppliers and market surveillance authorities, should be as close as possible to the real-life usage of a given product by the average consumer”, say MEPs, who asked the European Commission to publish EU “transitional measurement and calculation methods in relation to those product-specific requirements.”

MEPs also advocated the setting up of a “product database” consisting of a consumer website, with information on each product, and a “compliance” interface, i.e. an electronic platform supporting the work of national market surveillance authorities, available in the country’s languages.

MEPS will now start negotiations with the Council on the final form of the legislation.

The energy efficiency of the appliance is rated in terms of a set of energy efficiency classes from A to G on the label, A being the most energy efficient, G the least efficient. The labels also give other useful information to the customer as they choose between various models. The information should also be given in catalogues and included by internet retailers on their websites.