Press release

Fortum, DCNS, AW-Energy and Bretagne Region cooperate on wave power demonstration project in France

19 September 2013, 11:00 EEST

PRESS RELEASE 19 September 2013

Fortum will be responsible for the project development and will be the owner of the demonstration park. DCNS will manage the site development and construction work. The WaveRoller™ technology chosen for this project was developed by AW-Energy and is extensively patented. At the cutting edge of wave power, the WaveRoller™offers huge perspectives on an international scale. La Région Bretagne believes that this project is important for the local economy and industrial development. All parties involved see significant opportunities for long-term growth in wave energy.

The agreement signed by Fortum, DCNS and AW-Energy is an extension to the wave power research and development collaboration initiated in 2011 by DCNS and Fortum.

“This demonstration project is an ingenious European industrial match combining the best of Finnish and French expertise in renewable energy. For the very first time, we can now bring together Fortum’s expertise in CO2 free power production, DCNS industrial expertise in marine energy, AW-Energy’s technology solution and the commitment of La Région Bretagne. Together, we can truly create new renewable energy for Europe” declared Matti Ruotsala, Fortum’s Executive Vice President, Power Division.

“Wave power is an important part of DCNS development of sustainable energy solutions.This far-reaching agreement is a strong commitment to participate in the development of WaveRoller™. By investing our know-how in this cooperation we aim at securing our position in the emerging marine renewable market”, said Thierry Kalanquin, Senior Vice-President Services and Marine Energy, DCNS.

“This is an important milestone towards the commercialization of the WaveRoller™ technology. The long-term agreement paves the way for making WaveRoller™ an economically feasible solution to produce blue energy worldwide. Wave energy is indeed the world’s densest renewable energy sources, with huge power generating potential. We are excited to be able to take advantage of the excellent skills of our partners,” added John Liljelund, CEO of AW-Energy.

“Marine renewable energies offer an important industrial opening for Brittany and we intend to make the most of this. A race against the clock has begun, with major projects expected in the next few years. WaveRoller™offers Brittany an exceptional opportunity to play a driving role in the creation of a new industry”, declared Dominique Ramard, Vice President Energy, Bretagne Region.

Fortum Corporation
Corporate Communications

Further information:
Fortum France
Philippe Stohr, Country Manager, Fortum France, tel. +33 1 70 92 37 01

Virginie Lemière – Press Officer , tel.- +33(0) 1 40 59 53 57 - +33(0) 6 76 65 87 69

Mikael Martikainen – Communications, tel. +358 40 502 7475

Bretagne Développement Innovation
Paul-André Pincemin – MRE director, tel. +33 6 30 44 71 50

Fortum and wave power
Fortum has been actively involved in wave energy development since 2007. During this time, the company has been involved in funding the development of AW-Energy’s WaveRoller™ technology. Fortum and the Swedish Seabased AB are currently building a 10-megawatt wave power park on the west coast of Sweden, in Sotenäs. It is one of the world’s largest wave-power demonstration projects.

About Fortum
Fortum's purpose is to create energy that improves life for present and future generations. We provide sustainable solutions that fulfil the needs for low emissions, resource efficiency and energy security, and deliver excellent value to our shareholders. Our activities cover the generation, distribution and sales of electricity and heat as well as related expert services.
Fortum's operations focus on the Nordic countries, Russia, Poland and the Baltics. In the future, the integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2012, Fortum’s sales totalled EUR 6.2 billion and comparable operating profit was EUR 1.7 billion. We employ approximately 10,400 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.

DCNS : Sea the Future
DCNS believes that the sea is central to our planet's future. As a world leader in naval defence and an innovator in the energy sector, the Group is developing advanced technology and solutions to secure the future and sustainably develop the planet's potential. Its leadership is built on a proven ability to meet customer needs by combining exceptional know-how with unique industrial resources. DCNS designs and builds submarines and surface combatants, develops associated systems and infrastructure, and offers a full range of services to naval bases and shipyards. The Group has also expanded its focus into civil nuclear engineering and marine renewable energy. As a responsible corporate citizen, DCNS was one of the first major defence groups to achieve full certification to ISO 14001. The DCNS Group employs 13,200 people and generates annual revenues of €2.9 billion.

AW-Energy and WaveRoller™
The WaveRoller™ is a submerged wave energy converter, based on a hinged panel that is attached to the sea bed in the near shore area. It generates electricity from the back and forth movement of the waves (surge phenomenon) and is connected to the electric grid on the shore. AW-Energy is the developer of WaveRoller™. The company is based in Finland, and operates in multiple continents. It is backed by strong owners including Fortum, a leading European utility company.

Bretagne region welcomes the project
Bretagne has a strong maritime heritage which fits naturally into marine renewable energy. Along with its 2 730 km long coastline exposed to winds, ocean waves, currents, and large tidal ranges, it offers an outstanding and unlimited natural potential for developing marine renewable energy. Bretagne is the only region that develops six types of marine energy generation technology, combined with a strong political commitment for building a future in marine renewables, sets Bretagne apart.

The 6 types of technology being tested in Bretagne are: fixed and floating wind turbine, tidal stream turbine, tidal power plant, ocean thermal energy conversion and wave turbine. Bretagne Region support and is delighted with this agreement.