Eco Wave Power Ltd. - Experts & Thought Leaders

Eco Wave Power Global (“Eco Wave Power” or the “Company” or “EWP”), a major, publicly traded onshore wave energy company, is pleased to announce that it has won a £1.5 million grant (the “Grant”) as part of a consortium led by Toshiba (U.K.) and Aquatera (U.K.) to design a pilot microgrid project for a remote island in Thailand. The £1.5 million grant is part of Innovate UK’s Energy Catalyst program Round 10, which supports U.K. and international businesses and organizations in developing market-focused technologies that provide clean, affordable and accessible energy. Consortium includes Eco Wave Power, Toshiba and Hitachi The consortium will utilize the onshore Wave Energy Converters (WECs) developed by EWP The consortium is led by Toshiba Europe Limited (“Toshiba”), Aquatera Ltd (“Aquatera”) and also includes Hitachi Energy Ltd. (“Hitachi”) and teams from the University of Manchester, the University of Exeter, the Asian Institute of Technology (“AIT”), and the Queen Mary University of London (“QMUL”). The consortium will utilize the onshore Wave Energy Converters (WECs) developed by EWP and implement advanced technology developed by the corporate partners and the university teams. Eco Wave Power’s WEC offers many competitive advantages Eco Wave Power was selected by the parties as Eco Wave Power’s WEC offers several competitive advantages, including cost-efficiency, insurability, reliability, environmental friendliness, and a forecasted attractive levelized cost of energy for low-income residents in islands, in comparison to solar and diesel generators. New technology to be developed as part of the project will include the development and deployment of: Novel and predictive control systems; A radar system to forecast wave heights to help avoid hazardous conditions and maximize WECs energy generation; A fully AI-based load and generation prediction system; and Wireless, distributed energy management system to provide electricity without expensive lithium-ion batteries. Second grant from Innovate UK for Eco Wave Power Professor Guang Li, of the University of Manchester, said: “This is a second grant from Innovate UK for the development and commercialization of the Eco Wave Power’s technology. In our previous early-stage project, we have numerically demonstrated the efficacy of our advanced control technology that can improve the onshore WEC energy output by at least 40%. This project will enable us to continue our study in this area to further promote the technology readiness level and significantly enhance the WEC potential.” Dr. Kamyar Mehran, the Project Investigator from QMUL, added, “I am excited to start our second phase of this project after our successful initial feasibility study. We would like to thank Innovate UK for the generous funding, which can pave the way for the commercialization of all novel technologies we have researched for years. I also believe with our great partners we can achieve all of our objectives in this project.” Grant - a strong vote of confidence in Eco Wave Power Inna Braverman, Founder and CEO of Eco Wave Power, commented: “We see this as a strong vote of confidence in Eco Wave Power and our pioneering technology and look forward to a productive collaboration with the team from Toshiba, Hitachi, Aquatera Queen Mary University of London, University of Manchester, The Asian Institute of Technology, the University of Exeter, and the Provincial Electricity Authority of Thailand.” Inna Braverman adds, “We are extremely grateful to Innovate UK for this Grant, as this project presents a unique opportunity for us to research a new technology application for our WEC, customized for islands and other micro grid applications, which are a significant target market for Eco Wave Power.” PEA - microgrid operator on the Thai island The Provincial Electricity Authority (the “PEA”), will act as the microgrid operator on the island The Thai electrical state enterprise, the Provincial Electricity Authority (the “PEA”), will act as the microgrid operator on the island and minimize the capital cost of electricity to provide an electricity tariff, as inexpensive as monthly mobile charges, without incurring any asset ownership and maintenance costs for residents. Aquatera, with its close collaboration with AIT, will be active in seeking further private and public investment for similar pilot projects in Thailand’s islands and even neighboring Southeast Asian countries with excellent potential for wave energy pilots. PEA officials said: “PEA is a leading organization in the region, which focuses on providing efficient, reliable electricity services, related business for developing the quality of life, and sustainability of economics and society.” Eco Wave Power Eco Wave Power is a major onshore wave energy technology company that developed a patented, smart and cost-efficient technology for turning ocean and sea waves into green electricity. Eco Wave Power’s mission is to assist in the fight against climate change by enabling commercial power production from the ocean and sea waves. Eco Wave Power received funding from the European Union Regional Development Fund, Innovate UK and the European Commission’s Horizon 2020 framework program. The Company has also received the 'Global Climate Action Award' from the United Nations.

Eco Wave Power Global AB, a pioneering, publicly traded onshore wave energy company, is pleased to announce that it has commenced sending of clean electricity from its EWP-EDF One project in the Port of Jaffa to the Israeli National Electrical grid. Eco Wave Power has recently finalized the construction of the EWP-EDF One project in the Port of Jaffa, in Israel.  The EWP-EDF One Project was co-funded by EDF Renewable IL, which owns 50% of the project, and by the Israeli Ministry of Energy, which recognized the Eco Wave Power technology as a Pioneering technology. The project has a 100 KW installed capacity and is comprised of 10 floaters. Israeli national electrical grid Eco Wave engineering unit is acting in the calibration of the automation plan of the power plant In August 2023, the power station was officially connected to the Israeli national electrical grid, marking the first time in the history of Israel, that electricity produced by the power of the waves is sent to the national electrical grid of the country. Currently, the Eco Wave Power engineering team is performing calibration of the automation system of the power plant and is testing the durability and operation of the equipment. During a recent storm, the Eco Wave Power engineering team tested the operation of the power station, in waves up to 3.5 meters. There was no damage that occurred to any of the floater’s mechanisms during the storm, proving the technology’s durability. Assembled energy conversion unit In addition, during the first set of tests, the power station was able to reach a peak energy of around 32.4 KW that was sent to the grid and a stable average energy output of around 10 KW per hour. The Eco Wave Power Engineering team said: “These results are encouraging for the first phase of testing, and we are expecting to see a significant increase in production by the end of the testing phase.” The next project that Eco Wave Power is planning to launch will be in the Port of Los Angeles, in the United States. Currently, Eco Wave Power has a fully assembled energy conversion unit and one floater mechanism on the premises of the Port of LA. Eco Wave Power’s design Eco Wave Power will have seven extra floater agencies, and directly proceed to the installation Recently, Eco Wave Power has finalized the civil engineering design for the installation of the floaters to the marine structure in the Port of LA, in collaboration with KPFF, a California-based civil engineering firm, which officially approved the safety of Eco Wave Power’s design. The detailed design and KPFF’s approval were already submitted to the Port of LA, and Eco Wave Power is now pending the final necessary licenses from the Port of Los Angeles and the Army Corps of Engineers. Once received, Eco Wave Power will produce seven additional floater mechanisms, and immediately proceed to installation. Author's quote Inna Braverman, Founder and CEO of Eco Wave Power said: “The project in the Port of LA will be our first official penetration to the U.S. market, which we view as an extremely strategic market for Eco Wave Power, especially given the fact that according to the United States Energy Information Administration, wave energy can supply up to 66% of all the United States Energy needs, and also given the fact that in the beginning of October 2023, California Governor Gavin Newsom signed California Senate Bill 605 into law – a historic moment for wave energy in America." "The legislation directs the California Energy Commission to evaluate the feasibility of wave and tidal energy in California, including the costs and benefits of implementing the technology along the state’s coastline.”

Eco Wave Power Global AB (publ) (Nasdaq Capital Market: WAVE) (“Eco Wave Power” or the “Company”), a globally renowned, publicly traded onshore wave energy developer, announced that its station at the Port of Jaffa in Tel Aviv, EWP-EDF One, has officially connected to Israel’s national electrical grid – making it the first wave energy project to deliver electricity to the country’s power supply. Now, the EWP-EDF One project will proceed to full system calibration that is to be followed by a ceremonial “plugging in” event and demonstration in the coming months to commemorate this historic achievement. EWP-EDF One project The EWP-EDF One power station has an installed capacity of 100 KW The EWP-EDF One power station was built by Eco Wave Power, in collaboration with and co-funding from EDF Renewables IL and the Israeli Energy Ministry. The Israeli Energy Ministry has recognized the Eco Wave Power technology as a “pioneering technology”. The EWP-EDF One power station has an installed capacity of 100 KW, enough energy to power approximately 100 homes at peak efficiency. Harnessing sustainable wave energy “We are proud to see our vision of sustainable wave energy becoming a reality at the Port of Jaffa,” said Eco Wave Power's Founder and Chief Executive Officer (CEO), Inna Braverman. She adds, “I am grateful to the EDF Renewables IL team, Israeli Energy Ministry, the Atarim Group (which manages and develops the Tel-Aviv Jaffa coastline), and my entire team at Eco Wave Power, who worked tirelessly to take this project from an idea to a new source of clean energy for Israel.” Inna Braverman continues, “We believe this is just the start for wave energy and we are excited for this station to serve as a catalyst for many more projects across the globe.” Wave energy system installed at the Port of Jaffa Each floater connects directly to Eco Wave Power’s land-based energy conversion unit The wave energy system installed at the Port of Jaffa is comprised of ten floaters along the Port of Jaffa’s pre-existing breakwater. Each floater connects directly to Eco Wave Power’s land-based energy conversion unit, which enables easy access for operational maintenance and upgrades. The land-based conversion unit and utilization of pre-existing structures demonstrate Eco Wave Power’s ability and commitment to sustainably build clean energy power stations at nearly any location. Providing clean energy to Israel’s electrical grid The adaptability is further shown by its EWP-EDF One power station at the Port of Jaffa – one of the world’s oldest ports – and the upcoming pilot station at the Port of Los Angeles – one of the world’s busiest seaports and leading gateway for international trade in the Western Hemisphere. In addition to providing clean energy to Israel’s electrical grid, the EWP-EDF One power station will also serve as a public education center. Eco Wave Power receives EU’s GREENinMED grant Eco Wave Power recently announced that it received the GREENinMED grant by the European Union (EU), which will fund the creation and installation of a unique educational experience at the Port of Jaffa station.