Finnish wave outfit Wello has entered the Chinese market via a development agreement with local conglomerate CIMC OEI.
The companies will work together to define an optimised design of Wello’s Penguin wave device for Chinese waters.
The wave climate is slightly milder around China compared with northern Atlantic waters where the Penguin technology has been developed and verified, said Wello.
The partners will then establish a demonstration site in China before moving on to commercial-scale projects.
Wello’s CEO Heikki Paakkinen said: “Wello’s team and financers have spent a vast amount of effort during the previous 10 years to develop this extraordinary technology.
“Now we are in a position to harvest the results. There are new enquiries and contracts coming in and we really are on the verge of conquering the world with Penguins.”
Image: Penguin wave device (Wello)
Wello to ride Chinese wave
By EBS