AW-Energy Oy is entering the commercial hydrogen market by introducing a combined WaveRoller and HydrogenHub process for the production of green hydrogen. Its wave energy device when combined with other renewable energy sources, can enable significant green hydrogen cost reductions and is a viable solution in the drive to execute the world’s clean energy hydrogen roadmap.

"Our WaveRoller process enables a green hydrogen plant to achieve much higher production capacities at reduced costs by complimenting wave energy with solar or wind," said Christopher Ridgewell, CEO of AW-Energy Oy.

"Achieving carbon neutrality in many sectors will depend upon making vast amounts of renewable hydrogen. Because AW-Energy is the market leader in its field with utility scale technology, proven performance, our partners and industry stakeholders are encouraged by what we can now deliver commercially."

Widely available analysis suggests a US$2/kg price represents a potential tipping point that will make green hydrogen and its derivative fuels the energy source of choice across multiple sectors, which includes steel manufacturing, fertilizer production, power generation, and shipping where vast near-term demand exists across Europe and internationally.

Green ammonia, a derivative of green hydrogen, is also being assessed as a way to displace fossil fuels in thermal power generation, greatly decreasing the emissions intensity of existing energy infrastructure.

"We believe the collective ingenuity of our supply chain can deliver green hydrogen at less than US$2 per kilogram. From an industry, technology and political perspective, we see no barriers to achieving this. It is time for energy operators and suppliers to work together with wave energy providers to scale-up to reduce costs," said Ridgewell.

Baker McKenzie reports that the low-carbon hydrogen market size could reach $25B by 2030. The Hydrogen Council indicates that $70B - less than 5% of the annual global energy spend - from private and public sources will enable hydrogen to reach scale.

The growth in green hydrogen production using wave energy is a cost-effective solution in reaching the world’s latest hydrogen goals. AW-Energy is among the top few technology providers whose level of development meets the requirements of commercial renewable energy projects. WaveRoller is the first marine energy technology to be qualified through certification by Lloyd’s Register to mitigate risks, and provide investors with confidence in the delivery of commercial wave energy technology.