+358 9 888 4881 info@wello.eu



Why invest in Wello?

  • The need for stable renewable energy sources is a megatrend driving the demand for Wello’s solutions
  • The wave energy market potential is still unexplored and estimated at over 1 000 billion euros
  • Wello Penguin wave energy converter is a tried and tested solution with unique features
  • The core technology is protected through patents
  • Wello has received the first commercial order for a Wello Penguin wave energy park and the solution is now ready to be commercialized
  • The converter can also be applied for power generation on board of vessels
  • The professional and innovative Wello team is supported with experienced investors represented in the Board of Directors

Catching the wave

Wello’s sales strategy is two-fold. In the first stage, it aims to identify markets, where the Wello Penguin solution is a good fit already today. Favorable market conditions may consist of a good wave climate and relatively high cost of energy.  Renewable energy policies and feed-in tariffs for renewables also support the demand for Wello’s solution, especially if there are limitations for installing other forms of renewable energy in the market.

In certain markets, wave energy is already competitive or less expensive than other sources of energy. Penida Island in Indonesia and Easter Islands are good examples of places where it has been decided that for scenic reasons solar or wind energy is not desirable.  One of the only few renewable energy sources left to use is wave energy, which is less expensive than energy generated by diesel fuel.  Another example of a market, where wave energy is already less expensive than other forms of energy is Falkland Islands. This is the result of an excellent wave climate. In Greenland, solar energy is not economical and windmills cannot be built as there are no roads to take the cranes to the site. This leaves wave energy as one of the only source of renewable energy in Greenland.

There are large mega cities on the coastline of oceans. Often their electricity is transmitted from remote locations with expensive high voltage lines. In case of extra capacity needs Wello offers a solution where energy is supplied close to the cities.

In the second stage, the increased competitiveness of the solution is expected to open up new markets. With the development of sourcing and improved production, the cost of the Wello Penguin is expected to reduce 50% by 2019.  

The global wave energy market potential is estimated to be 3,36 TW, which equals to EUR 74 billion with a price of EUR 1,2 million/MW (source, price of the energy calculated using Penguins). By 2050, 100GW of ocean energy can be installed in Europe, meeting 10% of European electricity demand, and becoming a mainstream energy source (source). Other markets with roadmaps and targets for wave energy include North America, China, Japan and Australia.

The company has just received its’ first commercial order for a 10 MW Wello Penguin wave energy park to be located in the Indonesian waters. The role of Wello is to act as the technology and equipment provider. With over 17 000 islands and 234 million people, the Indonesian wave energy potential is estimated to be worth of over billion euros (source). Wello has a globally spread pipeline of projects that are under negotiations currently.


Our Investors

Finnvera is a specialised financing company owned by the State of Finland. It provides its clients with loans, guarantees, venture capital investments and export credit guarantees. Finnvera is the official Export Credit Agency (ECA) of Finland.

Fortum’s purpose is to create energy that improves life for present and future generations. Catering to versatile needs of customers, Fortum generates, distributes and sells electricity and heat and offers related energy services. Fortum’s operations focus on the Nordic and Baltic countries, Russia and Poland.

VNT Management is one of the first venture capital management companies in Europe that focuses on clean technologies, in particular renewables, electrical systems and energy savings. VNT is active in the Nordics and German-speaking countries.



Interested in investing in Wello?

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Wello Oy

Kurjenkellontie 5
FI-02270 Espoo

+358 9 888 4881