Eco Wave Power Global AB (publ) (NASDAQ: WAVE) ("Eco Wave Power"), a global leader in onshore wave energy technology, is proud to announce that its EWP-EDF One wave energy project at Jaffa Port, Israel, successfully operated around the clock during the last week of December 2024, with an average wave height of 1.6 meters and peak production of 26KW.
This milestone underscores the potential of wave energy as a reliable and sustainable source of renewable power. In addition, the project was subject to conditions classified as stormy and operated without damages, demonstrating the robustness and reliability of Eco Wave Power's innovative technology.
Eco Wave Power's pioneering technology proved its ability to deliver continuous, round-the-clock energy, marking a significant achievement for the industry. This breakthrough is a testament to the capability of wave energy to provide a dependable energy source in suitable locations.
Moreover, this milestone reinforces the significant role that wave energy can play in the future of renewable power generation. Wave energy offers a predictable, non-intermittent power source, which in many cases, can operate reliably around the clock, especially in coastal areas where waves are more consistent, offering a strong advantage over other intermittent energy sources.
Eco Wave Power's achievement at Jaffa Port highlights the Company's ongoing commitment to demonstrating the scalability and reliability of wave energy. The project has now successfully produced clean, renewable energy without interruption, even under challenging weather conditions.
In addition to the Jaffa Port project, Eco Wave Power is also making significant strides with its global expansion. The Company is preparing for the launch of its wave energy project at AltaSea in the Port of Los Angeles (in collaboration with Shell MRE), which recently secured a federal license from the U.S. Army Corps of Engineers. The Los Angeles project, expected to begin operations by the end of Q1 2025, follows the progress of Eco Wave Power's projects in Taiwan and Portugal. In Taiwan, the Company is advancing a key project in collaboration with I-KE, and in Portugal, Eco Wave Power is progressing with its plans to deploy its proprietary wave energy technology in one of Europe's most dynamic marine environments.
"We are extremely proud of the performance of our EWP-EDF One project at Jaffa Port, which demonstrated its ability to produce energy 24/7 even during stormy conditions," said Inna Braverman, CEO and Founder of Eco Wave Power. "This is a testament to the durability and reliability of our technology. We look forward to continuing our momentum with our projects in Taiwan, Portugal, and the Port of Los Angeles, as we work to accelerate the global transition to clean, renewable energy."
Eco Wave Power's innovative wave energy systems are designed to be efficient and scalable, offering a sustainable alternative to traditional energy generation methods. With ongoing projects across the globe, Eco Wave Power is continuing to expand its operations and prove that ocean waves can play a critical role in powering a sustainable future.