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Wello

Late Stage Startup





Tagline

Clean energy from ocean waves



Elevator Pitch

Wello has solved the challenge of producing green energy from ocean waves by repurposing existing technologies. This market of 451 Billion is ready to spend with right solution. Combining technology from wind power and ship building, this simple and patented device can produce electricity at lower cost than off shore wind.
Proven technology is now commercialized with strong customer involvement in customer driven multi-device project.

Product

Wello has developed a revolutionary wave energy converter that solves the challenges of the industry. Device is based on form and re-purposes existing technologies from wind energy. Supply chain is scalable by using off-the-shelf components and shipyards to manufacture the devices. The device captures continuous kinetic energy with an eccentric mass rotating inside the device connected directly to a generator. There are no moving parts in sea water.
www.youtube.com/watch?v=cPu...
www.youtube.com/watch?v=FlC...

A full scale Wave energy converter has tested during 2012-2014 in harsh ocean conditions in Orkney Scotland surviving over 12 meter waves. All internal components are still original and in full working condition.

From the beginning of the development Wello has been focusing on all five elements of LCOE:
1) Low initial cost: off-the-shelf industrial components and shipyard manufacturing
2) Low installation cost: floating device deployed by small vessels
3) Low operational cost: on-site maintenance, simplicity and proven industrial components
4) High performance: direct conversion from waves to electricity
5) High reliability: enclosed structure with traditional and proven maritime technology



Why we are ecofriendly

Wello's wave energy converter produces clean electricity from ocean waves without disrupting the ecosystem of oceans. Harvesting ocean waves to energy production can contribute significantly to energy mix of the future reducing the need to use Coal/Oil/Gas to to produce electricity as predominant source and enabling CO2 free energy production.
The energy converters shaped like vessels are anchored so that they do not disrupt the water's natural movement and disrupt marine life. The Wello Penguin produces no visual or noise pollution ant it can be utilized on almost any ocean cost. It is great investment into both energy production, and a cleaner future.
A deeper understanding of the power that the world's oceans possess.

Latest News

10MW pilot deployment planned to Cornwall by Fortum.
www.fortum.com/en/mediaroom...

Wello's Wave Energy Coverter producing clean energy
www.youtube.com/watch?v=cPu...

Wello has been shortlisted as one of five potential technologies to be deployed at ESBs 5MW WestWave project through a competitive procurement process

Wello to deliver Penguin WECs to a 24.5M project
www.fortum.com/en/mediaroom...

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Version History

2015-05-11 07:25:01 - changed latestnews to '10MW pilot deployment planned to Cornwall by...'

2015-04-27 08:06:12 - changed ecopitch to 'Wello's wave energy converter produces clean electricity from ocean waves without disrupting the ecosystem of oceans....'

2015-04-27 08:03:52 - changed pitch to 'Wello has solved the challenge of producing green energy from ocean waves by repurposing existing technologies. This...'

2015-04-27 08:03:25 - changed productpitch to 'Wello has developed a revolutionary wave energy converter that solves the challenges of the industry. Device is based...'

2015-04-27 08:02:23 - changed productpitch to 'Wello has developed a revolutionary wave energy converter that solves the challenges of the industry. Device is based...'



Website






Employees

10

Investors

Fortum www.fortum.com
VNT Management www.vntm.com
Finnvera Venture Capital www.finnvera.fi/eng

Customers

Energy companies




Awards



Country of Origin

Finland

Founded

2008



Team

Aki Luukkainen - CEO

Contact Person

Aki Luukkainen

Headquarter

Espoo, Finland

Tags

Wave energy, Clean energy, CO2 free energy, Ocean energy