OrbitonOpen research workspace →
Eco Wave Power Global AB logo

Eco Wave Power Global AB

NASDAQ:WAVELive AI agent

Eco Wave Power Global (NASDAQ: WAVE) is a leading onshore wave energy company that converts ocean and sea waves into clean, reliable, and cost-efficient electricity using its patented and intelligent technology.

Investor website: https://ecowavepower.com/

About

Eco Wave Power Global (NASDAQ: WAVE) is a leading onshore wave energy company that converts ocean and sea waves into clean, reliable, and cost-efficient electricity using its patented and intelligent technology. By generating renewable power directly from existing coastal infrastructure such as breakwaters, jetties, and piers, Eco Wave Power enables sustainable electricity production in close proximity to coastal cities, ports, and energy-intensive infrastructure. The company operates Israel’s first grid-connected wave energy power station and has launched the first-ever onshore wave energy pilot station at the Port of Los Angeles. Eco Wave Power is expanding globally with projects planned in Portugal, Taiwan, and India, representing a project pipeline of 404.7 MW. The company has received international recognition and support from organizations including the European Union Regional Development Fund and was honored with the United Nations Global Climate Action Award.

Verified company data

Projects
["EWP EDF One Project, Israel: Pursuant to the engineering coordination permit from the Municipality of Tel-Aviv Jaffa (permit number 2020-4345) for the deployment of the grid connection works of the EWP-EDF One wave energy project, today, Eco Wave Power (EWPG Holding AB, Stock Symbol: ECOWVE) is pleased to announce that it officially commenced the grid connection works in the Port of Jaffa, Israel. The grid connection works are performed in two parts, as they include different routes within the port. The first part is performed by the infrastructure subcontractor YEHIMOVITZ SUISSA LTD, in the shipyard area of the Port of Jaffa, and will be completed by the end of January. Once these works are finalized the company will move forward to the second part of the grid connection route, which will span across the warehouse area of the port. The works consist of removing the upper layer of asphalt in the dedicated grid connection route and preparing the tunnels necessary for the electric cables. “We are entering 2021 in full force, ready to push hard for the opening of our second grid connected project, while developing additional projects in our projects pipeline.” said Inna Braverman, CEO of Eco Wave Power. The Eco Wave Power cable system will span approximately 170 meters of underground cables. Due to the onshore nature of the Eco Wave Power technology, the grid connection works will be straightforward and will not involve any cable laying on the seabed, which are known to be extremely expensive and complex. In addition, the cable length will be significantly shorter and more cost-efficient than cables used for offshore energy projects. This highlights the significant advantages of the EWP onshore technology, in comparison with offshore solutions. The EWP-EDF one project is executed in collaboration with EDF Renewables IL and co-funding from the Israeli Energy Ministry.","Port of Los Angeles Project: The Port of Los Angeles Project is part of Eco Wave Power's initiative to harness wave energy in urban environments. The project aims to install wave energy converters along the breakwater of the port, contributing to the renewable energy supply of the area. The project is designed to demonstrate the feasibility of wave energy technology in a busy port setting, showcasing the potential for clean energy generation in urban coastal areas.","Portugal Project: Eco Wave Power Global AB (publ) is pleased to announce that its Portuguese subsidiary, EW Portugal- Wave Energy Solutions Unipessoal Lda. (“EW Portugal”), has received an installation and grid connection permit of 1MW in the form of a Small-Production Unit registration approval (registration number 5089) from the Portuguese Directorate-General for Energy and Geology (DGEG). This registration approval is required for the installation and grid connection of a 1MW pilot project at the Barra do Douro breakwater in Porto, Portugal. The Small-Production Unit Registration approval is the first permit required by EW Portugal to proceed with the actual installation and grid connection of a first 1MW wave energy power station on the ocean side of the Barra do Douro breakwater. The 1MW project is planned to be the first stage of the 20MW Concession Agreement entered into with APDL Administração dos Portos do Douro, Leixões e Viana do Castelo, S.A.) in April 2020, for the potential usage of four locations owned and operated by APDL. Reception of the Small-Production Unit registration approval was facilitated by EW Portugal in collaboration with the Portuguese law firm PLMJ Advogados, SP, RL (“PLMJ”) and the engineering and construction firm PAINHAS, which has more than 40 years of experience providing global turnkey solutions. Upon completion of the installation and grid connection works, EW Portugal will require a final operation certificate from DGEG for the operation of the power station. This project is in line with Portugal’s National Energy and Climate Plan for 2021-2030, otherwise known as PNEC 2030, which has set an objective for Portugal to ensure 47% of renewable sources in its gross final energy consumption by 2030. Portugal has an immense wave energy resource, which, according to estimates by the Government of Portugal, can supply 3-4GW of power capacity. Eco Wave Power’s project will be a significant milestone in the adoption of wave and ocean energy in Portugal and will contribute greatly towards the country’s goal under the PNEC 2030 plan, of implementing 70MW of wave power capacity by 2030. Inna Braverman, Founder and Chief Executive Officer of Eco Wave Power stated: “We are pleased to announce the Small-Production Unit registration Approval for our first planned 1MW wave energy project in Portugal. This is a huge leap towards the deployment of our first one MW wave energy power plant in Portugal. We would like to thank the Ministry of Environment and Climate Action, DGEG, PLMJ, Painhas, and all the other parties who are involved to support this first-of-a-kind project in Portugal. We believe that the successful execution of this project will mark the start of a new and exciting era for the wave energy sector in Portugal and around the globe.”","Gibraltar Project: Eco Wave Power’s project in Gibraltar has received funding from the European Union Regional Development Fund and the European Commission’s Horizon 2020 framework program. The project aims to harness wave energy to generate electricity, contributing to the region's renewable energy goals. Eco Wave Power is recognized as a “Pioneering Technology” by the Israeli Ministry of Energy and was labeled as an “Efficient Solution” by the Solar Impulse Foundation."]
Leadership
Inna Braverman (CEO), Aharon Yehuda (CFO, Over 20 years of experience as CFO of Turbochrome Ltd. and additional decade in advisory and audit services.)

Verified data last updated:

Recent filings