Latest news with #AltaSea
Business Wire
05-08-2025
- Entertainment
- Business Wire
Emmy and Four-Time James Beard Award-Winning Chef Andrew Zimmern to be Honored at AltaSea's Blue Hour
LOS ANGELES--(BUSINESS WIRE)--AltaSea at the Port of Los Angeles is proud to announce its sixth annual fundraiser, Blue Hour 2025: The Culinary Arts of Blue Food, an event that connects science, culture, food and community by combining food technology to tell the story of and raise awareness for the emerging blue economy. AltaSea will honor celebrity chef and restaurateur Andrew Zimmern with the Innovation Award, presented by ocean advocates Philippe and Ashlan Cousteau. Phillippe is an Emmy-nominated ocean storyteller, Founder of EarthEcho International, and the grandson of famed ocean explorer Jacques Cousteau. AltaSea will honor Chef Zimmern with the Innovation Award in recognition of his contributions to sustainable seafood and the blue economy. The Innovation Award is given annually to people who display ingenuity, drive progress, and solve some of the world's most pressing problems with innovative solutions. As a chef, humanitarian, entrepreneur, and global citizen, Zimmern has devoted his life to exploring and promoting cultural acceptance, tolerance, and understanding through food. Zimmern's work, including his co-creation of the Emmy and James Beard Foundation award nominated PBS documentary-series Hope in the Water, his work telling stories on and about our global water systems for over 20 years on television across 12 series, his authorship of the new cookbook The Blue Food Cookbook, his advocacy for fresh and salt water food systems as a global ambassador for the United Nations World Food Program, the Nature Conservancy, creating access to sustainable fish and seafood as a pillar of his work with the Environmental Working Group, and as a founding member of the Coalition for Sustainable Aquaculture inspires us all to take global action for healthier oceans and a more sustainable food future. Now in its 11 th year, AltaSea has developed a 35-acre ocean technology campus that is home to many innovative climate solutions focused on the ocean in a variety of industries, including aquaculture, carbon capture, renewable energy, and ocean exploration. AltaSea also partners with high schools, colleges, and universities to provide educational experiences for the next generation of climate scientists and innovators. Sponsored by Delta Air Lines, Carrix, Air Products, Arc Boats, Enlyst Fund, AltaSea Trustee Dr. Geraldine Knatz and others, Blue Hour 2025: The Culinary Arts of Blue Food will feature chef demonstrations, exquisite culinary creations, literal works of art from food, live music, and distinctive entertainment. It will also feature a variety of ocean food and drinks, curated by award-winning Chef Sammy Monsour. The event will take place on September 27, 2025, at AltaSea's Lands End (Berth 60), with doors opening at 5:30 PM and the awards ceremony starting at 8 PM. For more information and tickets, please visit: 'I'm honored to receive AltaSea's Innovation Award and to celebrate the blue economy,' said Chef Zimmern. 'AltaSea's work in promoting sustainable aquaculture and seafood inspires a new way of thinking about our relationship with the ocean, aligning with a belief I've long held: sustainable seafood is key to both nourishing communities and preserving our oceans for future generations.' Zimmern's upcoming book, Hope in the Water: The Blue Food Cookbook, set to release on October 28, 2025, is a 'seafood bible looking at blue food from water to plate: a tangible delicious cookbook for how to best buy, prepare, and cook from our oceans and waterways sustainably.' 'Sustainable seafood is a critical pillar of the blue economy. Andrew Zimmern's career has brilliantly showcased how good sustainable seafood can be,' said AltaSea President & CEO Terry Tamminen. 'We are thrilled to honor him at the Blue Hour for his transformative contributions to ocean health through his culinary innovation and advocacy.' AltaSea will also honor the Chadwick Ocean Institute with the NextGen Award, which honors emerging leaders or institutions that help shape a better and more sustainable future. Founded in 2024, the Chadwick Ocean Institute is a K-12 program that extends learning beyond the classroom, immersing students in real-world ocean science, research, and sustainability. Students get hands-on experience, providing them with a strong foundation with jobs in the emerging blue economy. The institute has a dedicated space at AltaSea called 'The Co-Lab', a vibrant hub for ocean innovation where students, scientists, entrepreneurs, educators, and policy shapers converge to explore new frontiers in marine science and technology. AltaSea Trustee Eric Johnson will receive this year's Cornerstone Award, given annually to a member of the AltaSea family that has been instrumental in AltaSea's growth. One of AltaSea's earliest champions, Johnson's contributions to AltaSea support both the development of K-12 educational components and as lead advisor for the construction of the campus. Upon joining the board of trustees, Johnson a real estate developer by trade, led the prioritization of the redevelopment of Berths 58 – 60. Johnson and his family are pillars of the San Pedro community. As President of Jerico Development, Johnson has helped transform and revitalize the LA waterfront by leading the West Harbor project, a public private partnership with the Port of Los Angeles. West Harbor is a 42-acre ground-up retail, dining and entertainment destination being developed through a joint venture with the Ratkovich Company, Osprey Investors, and SSA Marine. His family's foundation, the Crail Johnson Foundation, has helped underprivileged youth in urban Los Angeles since 1988 and is one of AltaSea's founding donors. Blue Hour 2025: The Culinary Arts of Blue Food will feature four immersive and inspiring 'Blue Food' pavilions, offering guests a chance to explore exceptional ocean-based cuisine while discovering the future of the blue economy and sustainable aquaculture. The pavilions will be curated by Chef Sammy Monsour, a Michelin Award-winning chef known for sustainable seafood and Southern-inspired cuisine. 'I'm excited to showcase four unique ways to enjoy sustainable seafood, celebrating the ocean's bounty while advancing a more sustainable future,' said Chef Monsour. 'The funds raised by Blue Hour supports AltaSea's Ocean STEM, which provides educational programs to students throughout Los Angeles at no cost, giving them an opportunity to learn about the vast opportunities within the blue economy. These range from sustainable food and regenerative aquaculture to underwater robotics and more.' This year's event spotlights vendors and collaborators deeply connected to AltaSea's mission to accelerate ocean innovation: LA Harbor College Pavilion – Blue Economy Culinary Arts: In partnership with LA Harbor College's acclaimed Culinary Arts Program, this pavilion will spotlight next-generation culinary talent. Students will prepare recipes inspired by our 2025 Blue Hour Honoree, Chef Andrew Zimmern. Seaweed Pavilion – Featuring Kelp Ark: This pavilion will highlight the power of seaweed as both a sustainable food source and a regenerative force for our oceans. A featured well-known LA chef, selected by Chef Sammy Monsour, will create culinary experiences that celebrate seaweed's diversity. In collaboration with Kelp Ark, this pavilion will emphasize the ecological and culinary significance of marine plants. Braid Theory Pavilion – Sustainable Innovation Meets Cuisine: Curated in partnership with AltaSea partner Braid Theory, this pavilion will explore ocean-conscious packaging and the future of eco-friendly food innovation. It will blend food artistry with storytelling, integrating sustainable materials into the culinary journey. Blue Robotics Pavilion: This 'coastal café' pavilion will bring a chef-curated tasting of oysters that champion shelf-stable, sustainable options for ocean-based nourishment. To complement the Pavilions, Trani's Dockside Station and Chef Dustin Trani will provide a curated menu of food offerings. Dockside is a seafood forward California cuisine full-service restaurant celebrating its 100-year anniversary this year. Chef Dustin Trani is a fourth-generation celebrity chef and owner. The Trani family is a San Pedro institution that has consistently set the standard in the town's food scene. In addition to the various food offerings, internationally-acclaimed conceptual artist and composer Beatie Wolfe will showcase selections from her award-winning climate art portfolio that includes 'Smoke and Mirrors' and 'From Green to Red.' These pieces use art to communicate over six decades of climate data to raise awareness. Earlier this year, Wolfe released two studio albums 'Luminal' and 'Lateral' with Brian Eno, one of the most influential figures in the music industry. About AltaSea at the Port of Los Angeles AltaSea at the Port of Los Angeles, located on 35 acres at North America's leading seaport by both container volume and cargo value, is dedicated to accelerating scientific collaboration, advancing an emerging blue economy through business innovation and job creation, and inspiring the next generation, all for a more sustainable, just, and equitable world. For more information on AltaSea, please visit:
Business Wire
17-07-2025
- Science
- Business Wire
Ocean Pathways Celebrates Third Year Empowering Newark Youth as Environmental Stewards
NEWARK, N.J.--(BUSINESS WIRE)--The Ocean Pathways High School Research Mentorship program, an immersive six-week summer program led by AltaSea at the Port of Los Angeles, Hugo Neu/Kearny Point, and NY/NJ Baykeeper in partnership with the Newark Boys & Girls Club, officially launched for the third straight year. The six-week program provides high school students in Los Angeles, New York, and New Jersey with firsthand research experience and mentorship opportunities in marine biology, sustainability, and environmental conservation. Backed by the NJ STEM Pathways Social Innovation Grant, the program has grown from a standalone summer experience into a year-round engine for raising environmental awareness and nurturing the next generation of green-economy leaders. The program takes place at AltaSea's campus in Los Angeles and on Hugo Neu's Kearny Point campus in New Jersey. Since launching in 2023, the Ocean Pathways program has engaged over 120 Newark and Los Angeles students in hands-on projects in marine science, sustainability, and conservation, and has awarded participants up to 50 volunteer hours and stipends of up to $150 to bolster college applications and career readiness. The program has also sparked community-driven initiatives, from oyster reef restoration to neighborhood water-quality monitoring, that continue beyond the summer. 'We're witnessing real transformation,' says Keion Walker, Education Director at NY/NJ Baykeeper. 'Students not only gain technical skills, but they also become ambassadors – spotlighting environmental challenges in their own backyards and inspiring peers to get involved.' This year's Los Angeles cohort features 28 local students. They will also hear firsthand from industry experts from Kelp Ark, the California Department of Fish and Wildlife, USC Sea Grant, and AltaSea. The students will work on projects that include: building underwater robots to study water and sediment quality at the Port of Los Angeles, designing aquaculture systems powered by wind and solar energy, and researching the critical role of kelp forests in combating climate change via ocean cultivation. The program will culminate in presenting their projects and findings at an AltaSea's open house on August 9. The East Coast Cohort – made up of 20 Newark high schoolers – will devote 8-10 hours per week to various immersive experiences, including: Oyster Habitat Restoration with Baykeeper's Rink-2-Reef® Water Quality Monitoring at Liberty Science Center and Lake Lefferts Park Urban Systems Exploration at Sims Municipal Recycling Facility Green Infrastructure Tours at Duke Farms Career-Connected Workshops on environmental policy, regenerative aquaculture, and climate justice All activities on both coasts are designed not only to teach scientific methods but to inspire students to envision long-term careers in marine biology, environmental engineering, policy advocacy, and beyond. 'The ocean is a shared resource that is vital to the wellbeing of our planet,' said Alan Hill, Director of Education at AltaSea. 'Ocean Pathways is connecting students with real-world challenges and opportunities, effectively shaping the next generation with the tools to lead in the blue economy.' Alumni from the Ocean Pathways program are already making a tangible impact in their communities, presenting water-quality findings at school and community meetings, leading neighborhood clean-up and restoration campaigns, and serving as ambassadors to incoming cohorts on field techniques and professional communication. Get Involved Ocean Pathways invites community members, industry partners, and educators to: Sponsor stipends and equipment for future cohorts Connect high-school students with internships and job-shadowing opportunities For more information or to support the next generation of environmental innovators, please contact: NY/NJ Baykeeper: Keion Walker, keion@ Hugo Neu Corporation: Dan Gura, dgura@ AltaSea (West Coast): Alan Hill, ahill@ About AltaSea at the Port of Los Angeles AltaSea at the Port of Los Angeles, located on 35 acres at North America's leading seaport by both container volume and cargo value, is dedicated to accelerating scientific collaboration, advancing an emerging blue economy through business innovation and job creation, and inspiring the next generation, all for a more sustainable, just, and equitable world. For more information on AltaSea, please visit: About Hugo Neu/Kearny Point Nestled between Jersey City and Newark, Kearny Point is a revitalized historic shipyard undergoing a transformation into a sustainability campus and innovation hub. Our site's rich industrial history has been repurposed into workspaces and warehouses that foster productivity and scalability. Guided by the Hugo Neu Corporation, the 130-acre development showcases adaptive building reuse, green infrastructure, and renewable energy solutions. Kearny Point's strategic location promises economic growth and sustainable progress at the intersection of innovation and history. For more information, please visit
Los Angeles Times
22-06-2025
- Business
- Los Angeles Times
Riding the Blue Wave: How Los Angeles is Building a Trillion-Dollar Ocean Economy
L.A.'s unique access to new and innovative opportunities driven by the ocean economy In addition to over one million workers for whom the shoreline and coastal waters are a source of economic opportunity, California's 26 million coastal residents also depend on the shoreline in some form or fashion. In the face of growing threats, such as climate change, Los Angeles, with its massive ports and access to the Pacific, has been working to capitalize on the region's unique position to create and employ innovative ways to boost the economy while protecting our most prized resource: the ocean. Estimates indicate that the value of the blue economy will double over the next decade, with a projected global value of $3 trillion by 2030. Across the world, municipal and national entities are investing in the sustainable development of their blue economies and reaping significant economic and ecological rewards. Tangible opportunities exist for California and Los Angeles County to follow in their footsteps. According to economists and analysts, there is significant promise within the blue economy, not only for next-generation jobs in tourism and marine transportation – which make up the majority of the current blue economy – but also in new industries with perceptibly high job growth potential. Some of these new industries could provide avenues to sustain and grow our livelihoods while addressing the serious issues of climate change, pollution and overfishing, and meeting renewable energy and cutting-edge biotechnology innovations. Ocean economy activities, also known as the blue economy, in L.A. County are poised to grow exponentially as the heightened awareness of the risks posed by climate change, pollution and aquatic ecosystem degradation is driving increased attention to, and investment in, more sustainable ocean-based industries, but industry and education leaders have to focus on workforce development and closing curriculum gaps in order to take full advantage of that growth said a report, 'The Blue Economy in Los Angeles County: Charting A Course Forward,' authored by the Los Angeles Economic Development Corporation (LAEDC) and Blue Economy & Climate Action Pathways (BECAP). The report, issued this year, reported that in 2021 (the most recent year available) the ocean economy in L.A. County provided 105,074 jobs across 3,896 establishments and contributed over $14 billion to county real GDP. By estimates, that number has grown (and continues to grow) exponentially. 'By recognizing the significance of the blue economy, we continue to harness our greatest assets: our ocean and untapped talent,' said Terry Tamminen, the president/CEO of AltaSea at the Port of Los Angeles and former CalEPA secretary. 'The Los Angeles Economic Development Corporation/BECAP report reinforces what we are working every day on at AltaSea – ocean-based industries that have the potential to outperform the growth of the global economy as a whole, both in terms of value added and employment. To power these new jobs, it is incumbent upon us to address existing curriculum gaps and provide Southern California students with sector-specific knowledge and skills training demanded by the innovative blue economy employers that will drive this economy in the coming decades. Measuring and reporting on the blue economy by the LAEDC provides us a valuable roadmap and tool to accomplish greater job creation in Los Angeles and beyond.' LAEDC's research on the blue economy done in collaboration with AltaSea at the Port of Los Angeles highlights efforts by organizations like AltaSea to take advantage of this burgeoning blue economy by setting the groundwork for new and innovative learning opportunities, workforce development and new curriculum to make sure students have all the tools and resources necessary to succeed in the blue economy. Los Angeles' emerging yet rapidly growing blue economy benefits from unparalleled regional assets, including the largest port complex in the Western Hemisphere, home to AltaSea at the Port of Los Angeles – a unique 35-acre public-private ocean institute that brings together the best and brightest pioneers and organizations in science, business and education. The region also benefits from a variety of new educational programs, including the Los Angeles County Office of Education's new Marine Science Floating Laboratory where students participate in hands-on, marine-science learning, including water visibility testing and studying bottom sediment and fish morphology. In addition, new high school programs, such as the career technical education program at Port of Los Angeles High School, are generating interest in marine issues, while Santa Monica College's Aquaculture certificate program represents the first explicitly blue economy-related community college-level program in the region. 'The ocean is our future. L.A. must lead,' said Stephen Cheung, president & CEO of the Los Angeles County Economic Development Corporation (LAEDC). 'Los Angeles must be at the forefront, pioneering innovation and leadership in the blue economy and climate action pathways. Together, we can harness the ocean's potential responsibly and ensure a sustainable future for all.' The LAEDC report urges industry, government and education leaders to provide a larger range of blue economy workforce development programming, centering efforts in workforce development and deepening partnerships among educational institutions and with government and industry partners. To that end, the BECAP Consortium, an alliance of 15 Los Angeles community colleges, AltaSea and the LAEDC, is developing a novel workforce training and placement program to prepare students for the next generation of ocean economy occupations, including post-secondary certificate and degree programs in blue economy industries, like renewable energy and wave energy technologies. 'The sustainable use and careful stewardship of the ocean will allow us to tackle the planet's greatest challenges of food security, clean energy and climate resiliency, but the success of our region – both environmentally and economically – depends on how we invest in education and workforce development in this emerging blue economy,' said Los Angeles City Councilmember Tim McOsker, who represents the Fifteenth Council District, which includes AltaSea. 'We must continue to ensure that Los Angeles leads the way in education, innovation and job creation to expand the sustainable use of the ocean to improve lives and sustain a healthy future for our planet.' Prior to being elected to the Los Angeles City Council, McOsker was president/CEO of AltaSea when the first LAEDC report on the blue economy was released. 'Los Angeles County's ocean economy will continue to develop to meet new economic and policy demands,' the LAEDC report concluded. 'However, the emergence of more sustainable marine industries will depend in part on the workforce development ecosystem's ability to collaborate and build educational and experiential pathways for all Angelenos who wish to participate in the blue economy.' Blue economy success stories can be found in multiple sectors, from technology to education to policy, pointing to the potential for significant growth in the next decade. Many organizations across these sectors are flourishing with Los Angeles as a base for their operations, bringing attention and resources to the region's blue economy. Los Angeles is home to the largest concentration of mCDR research, development and commercial operations in North America. The capture and sequestration of carbon has a growing footprint as a critical solution to reducing the impact of fossil fuel emissions; it can also produce 'green hydrogen,' a clean fuel that is increasing in demand. The mCDR university-associated organizations at AltaSea are scaling up their proprietary technologies, from the direct removal of carbon from the ocean by Equatic (UCLA School of Carbon Management) and Captura (Caltech) to the sustainable permanent storage of carbon in the ocean by Calcarea (Caltech). Their investments in this commercial translation of innovative technologies are designed to lead to economic and job growth in the region. One company that is demonstrating the potential for scaling up jobs in the blue economy is Blue Robotics, an underwater robotics company that has grown over the last decade from two employees working out of a garage to over 60 employees working in 32,000 square feet of space at AltaSea. Another AltaSea onsite partner that is growing fast is Sperra, which utilizes 3-D concrete printing for coastal resiliency – including fabrication of low-cost, durable, offshore wind, solar and wave energy components; 3-D printing of artificial reefs and coastal infrastructure; and anchors for aquaculture and other applications. The company will be expanding operations and staff soon to manufacture its products at a larger scale. Regenerative aquaculture is projected to grow significantly to address food insecurity, create biofuels and other products, restore ecosystems, sequester carbon and stimulate economic growth in California. Organizations in Los Angeles and Southern California are helping drive this effort. San Pedro-based Holdfast produces California-native seaweed and shellfish seeds for purchase by seaweed farmers and also develops novel aquaculture techniques for mussels to optimize taste. Kelp Ark and the USC Seaweed Lab on the AltaSea Campus are staging breeding programs to enable sustainable and highly efficient offshore aquafarming for the entire West Coast. They are leading a community of practice of over 40 researchers and companies focused on aquaculture farming, including Ocean Rainforest, an innovator in sustainable seaweed aquaculture that recently secured a $4.5-million 'Technology to Market Plus Up' award from ARPA-E. The efforts of these organizations and more mark the regional commitment to advancing offshore aquaculture technologies in California. A variety of technologies to produce renewable energy using marine resources is available and increasing in regional commercial applications. Eco Wave Power, for example, is a global leader in onshore wave energy that is in the process of establishing an operation in Los Angeles. The company developed a patented, cost-efficient technology for turning ocean and sea waves into renewable electricity and recently secured the final federal permit for its newest pilot at AltaSea, with installation scheduled for 2025. Eco Wave Power has a total project pipeline of 404.7 MW and has received the 'Global Climate Action Award' from the United Nations.
Associated Press
04-04-2025
- Business
- Associated Press
New LAEDC Report Underscores Importance of AltaSea's Efforts to Grow the Blue Economy
Ocean economy activities, also known as the blue economy, in L.A. County are poised to grow exponentially as heightened awareness of the risks posed by climate change, pollution, and aquatic ecosystem degradation are driving increased attention to, and investment in, more sustainable ocean-based industries, but industry and education leaders have to focus on workforce development and closing curriculum gaps in order to take full advantage of that growth said a report, 'The Blue Economy in Los Angeles County: Charting A Course Forward,' authored by the Los Angeles Economic Development Corporation (LAEDC) and Blue Economy & Climate Action Pathways (BECAP). The report, issued March 26 in conjunction with the 2025 BECAP Summit at UCLA Luskin Conference Center, said that in 2021 (the most recent year available), the ocean economy in L.A. County provided 105,074 jobs across 3,896 establishments and contributed over $14 billion to county real GDP. 'By recognizing the significance of the blue economy, we continue to harness our greatest assets: our ocean and untapped talent,' said Terry Tamminen, the President/CEO of AltaSea at the Port of Los Angeles and former CalEPA Secretary. 'The Los Angeles Economic Development Corporation/BECAP report reinforces what we are working every day on at AltaSea – ocean-based industries that have the potential to outperform the growth of the global economy as a whole, both in terms of value added and employment. To power these new jobs, it is incumbent upon us to address existing curriculum gaps and provide Southern California students with the sector-specific knowledge and skills training demanded by the innovative blue economy employers that will drive this economy in the coming decades. Measuring and reporting on the blue economy by the LAEDC provides us a valuable roadmap and tool to accomplish greater job creation in Los Angeles and beyond.' The 64-page report (available HERE) follows up on LAEDC's initial 2019 report on the blue economy done in collaboration with AltaSea at the Port of Los Angeles. The previous and current reports highlight efforts by organizations like AltaSea to take advantage of this burgeoning blue economy by setting the groundwork for new and innovative learning opportunities, workforce development and new curriculum to make sure students have all the tools and resources necessary to succeed in the blue economy. Los Angeles' emerging yet rapidly growing blue economy benefits from unparalleled regional assets, including the largest port complex in the western hemisphere, home to AltaSea at the Port of Los Angeles – a unique 35-acre public-private ocean institute that brings together the best and brightest pioneers and organizations in science, business, and education. The region also benefits from a variety of new educational programs, including the Los Angeles County Office of Education's new Marine Science Floating Laboratory where students participate in hands-on, marine-science learning, including water visibility testing and studying bottom sediment and fish morphology. In addition, new high school programs, such as the career technical education program at Port of Los Angeles High School, are generating interest in marine issues; while Santa Monica College's Aquaculture certificate program represents the first explicitly blue economy-related community college-level program in the region. 'The ocean is our future LA must lead,' said Stephen Cheung, President & CEO of the Los Angeles County Economic Development Corporation (LAEDC). 'Los Angeles must be at the forefront, pioneering innovation and leadership in the blue economy and climate action pathways. Together, we can harness the ocean's potential responsibly and ensure a sustainable future for all.' The LAEDC report urged industry, government and education leaders to provide a larger range of blue economy workforce development programming, centering efforts in workforce development, and deepening partnerships among educational institutions and with government and industry partners. To that end, the BECAP Consortium, an alliance of 15 Los Angeles community colleges, AltaSea and the LAEDC, is developing a novel workforce training and placement program to prepare students for the next generation of ocean economy occupations including post-secondary certificate and degree programs in blue economy industries, including renewable energy and wave energy technologies. 'The sustainable use and careful stewardship of the ocean will allow us to tackle the planet's greatest challenges of food security, clean energy and climate resiliency; but the success of our region—both environmentally and economically—depends on how we invest in education and workforce development in this emerging blue economy,' said Los Angeles City Councilmember Tim McOsker who represents the Fifteenth Council District, which includes AltaSea. 'We must continue to ensure that Los Angeles leads the way in education, innovation and job creation to expand the sustainable use of the ocean to improve lives and sustain a healthy future for our planet.' Prior to being elected to the Los Angeles City Council, McOsker was President/CEO of AltaSea when the first LAEDC report on the blue economy was released. 'Los Angeles County's ocean economy will continue to develop to meet new economic and policy demands,' the LAEDC report concluded. 'However, the emergence of more sustainable marine industries will depend in part on the workforce development ecosystem's ability to collaborate and build educational and experiential pathways for all Angelenos who wish to participate in the blue economy.' About Los Angeles County Economic Development Corporation Los Angeles County Economic Development Corporation (LAEDC) works collaboratively to advance opportunity and prosperity for all in the Greater Los Angeles region. This is achieved via economic development leadership, objective economic research and analysis, strategic assistance to business, education and government partners, and targeted public policy. LAEDC was established in 1981 as a private, non-profit, public benefit corporation. About AltaSea at the Port of Los Angeles AltaSea at the Port of Los Angeles, located on 35 acres at North America's leading seaport by both container volume and cargo value, is dedicated to accelerating scientific collaboration, advancing an emerging blue economy through business innovation and job creation, and inspiring the next generation, all for a more sustainable, just, and equitable world. For more information on AltaSea, please visit: (310) 753-6460 SOURCE: AltaSea Copyright Business Wire 2025. PUB: 04/04/2025 11:00 AM/DISC: 04/04/2025 11:01 AM
Globe and Mail
31-03-2025
- Business
- Globe and Mail
Eco Wave Power Secures Final Permit for Pioneering Wave Energy Project in the Port of Los Angeles
Los Angeles, California--(Newsfile Corp. - March 31, 2025) - Eco Wave Power (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a leading onshore wave energy technology company, is pleased to announce that it has been granted Revocable Permit 25-05 by the Port of Los Angeles for the construction and demonstration of its innovative wave energy technology at Berth 70 in San Pedro, California. The permit was approved and executed on behalf of the Executive Director, Eugene D. Seroka on March 27, 2025. Inna Braverman, Terry Tamminen, and Arnold Schwarzenegger in a visit to Eco Wave Power's pilot in LA To view an enhanced version of this graphic, please visit: This permit is the final approval required for Eco Wave Power to commence construction of its pilot project, following it receiving a federal Nationwide Permit (NWP) 52 for Water-Based Renewable Energy Generation Pilot Projects granted by the U.S. Army Corps of Engineers in November 2024. With all necessary permits secured, the Company is set to move forward with implementation, which is expected to be completed within 2-3 months. The pilot project, co-funded by Shell Marine Renewable Energy ("Shell MRE"), marks a significant milestone in advancing clean energy solutions by utilizing wave power to generate electricity. Under the permit, Eco Wave Power is authorized to utilize approximately 10,396 square feet of land and 2,016 square feet of water area for the installation and operation of its cutting-edge wave energy conversion system. The project, developed in partnership with AltaSea at the Port of Los Angeles, will involve installing up to eight wave energy floaters on the piles of an existing concrete wharf structure at Municipal Pier One. An energy conversion unit, consisting of two 20-foot shipping containers, will be placed on the wharf deck and connected to the floaters. With the conversion unit already shipped and located on-site, Eco Wave Power plans to complete installation by the end of the second quarter of 2025. "This permit represents a major step forward for Eco Wave Power's expansion into the U.S. market," said Inna Braverman, CEO of Eco Wave Power. "We are excited to collaborate with the Port of Los Angeles, AltaSea, and Shell MRE to bring our innovative, sustainable energy technology to one of the most significant ports in the country." Terry Tamminen, CEO of AltaSea, added: "At AltaSea, we are dedicated to fostering cutting-edge solutions for the blue economy, and Eco Wave Power's innovative technology is a prime example of that commitment. We are thrilled to support this project as it sets the stage for wave energy's viability in the U.S." The U.S. Department of Energy's National Renewable Energy Laboratory estimates that wave energy has the potential to generate over 1,400 terawatt-hours per year-enough to power approximately 130 million homes. This pilot project is a crucial step toward the commercialization of wave energy as a reliable and clean source of renewable power, further strengthening Eco Wave Power's position as a leader in the industry. Eco Wave Power remains dedicated to driving forward the global transition to clean energy by pioneering wave power technology. This pilot project is expected to serve as a model for future large-scale wave energy installations across the United States and beyond. About Eco Wave Power Global AB (publ) Eco Wave Power is a leading onshore wave energy company revolutionizing clean energy with its patented, smart, and cost-efficient technology that converts ocean and sea waves into sustainable electricity. Dedicated to combating climate change, Eco Wave Power operates the first grid-connected wave energy system in Israel, co-funded by EDF Renewables IL and the Israeli Energy Ministry, which recognized the technology as a "Pioneering Technology." Expanding globally, Eco Wave Power is preparing to install projects at the Port of Los Angeles, Taiwan, and Portugal, adding to its impressive project pipeline totalling 404.7 MW. The company has received support from prestigious institutions such as the European Union Regional Development Fund, Innovate UK, and the Horizon 2020 program, and was honoured with the United Nations' Global Climate Action Award. Eco Wave Power's American Depositary Shares (WAVE) are traded on the Nasdaq Capital Market. Learn more at Information on, or accessible through, the websites mentioned above does not form part of this press release. For more information, please contact the company at: Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other federal securities laws. For example, the Company is using forward-looking statements in this press release when it discusses: the Company's prospective implementation and timeline of its pilot project; the belief that this pilot project marks a significant milestone in advancing clean energy solutions; the prospective implementation schedule; the belief that this permit represents a major step forward for the Company's expansion into the U.S. market; the belief that the Company's technology fosters a cutting-edge solution for the blue economy; the belief that that wave energy has the potential to generate over 1,400 terawatt-hours per year; that this pilot project is a crucial step toward the commercialization of wave energy as a reliable and clean source of renewable power, further strengthening the Company's position as a leader in the industry; and that this pilot project is expected to serve as a model for future large-scale wave energy installations. These forward-looking statements and their implications are neither historical facts nor assurances of future performance and are based on the current expectations of the management of Eco Wave Power and are subject to a number of factors, uncertainties and changes in circumstances that are difficult to predict and may be outside of Eco Wave Power's control that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading "Risk Factors" in Eco Wave Power's Annual Report on Form 20-F for the fiscal year ended December 31, 2024, filed with the SEC on March 3, 2025, which is available on the on the SEC's website, and other documents filed or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. References and links to websites have been provided as a convenience and the information contained on such websites is not incorporated by reference into this press release.
