Latest news with #waveenergy
Associated Press
28-05-2025
- Business
- Associated Press
Eco Wave Power Pays First Installment of Grid Connection Fee for 1MW Project in Porto, Portugal, Marking Major Progress Toward Wave Energy Integration
Porto, Portugal--(Newsfile Corp. - May 28, 2025) - Eco Wave Power Global AB (publ) (NASDAQ: WAVE), a leading onshore wave energy technology company, is pleased to announce a key milestone in the development of its first 1MW wave energy power station in the City of Porto, Portugal. Eco Wave Power has successfully paid the first installment - representing 50% of the grid connection fee - for the planned 1MW station, marking significant progress in the project's implementation. [ This image cannot be displayed. Please visit the source: ] To view an enhanced version of this graphic, please visit: This payment was made to E-REDES, the Portuguese electricity distribution system operator responsible for managing and operating the national distribution grid and ensuring secure and efficient access for producers and consumers alike. Alongside the payment, Eco Wave Power officially communicated its Acceptance of the Connection Conditions for the public grid in relation to the UPP/5089 power plant, under application reference PL 900000079210. This acceptance refers to the connection conditions to the Public Service Electricity Grid (RESP), as communicated by E-REDES in a formal letter dated November 27, 2024. By this communication, Eco Wave Power expressly agrees to all conditions and technical specifications outlined in the E-REDES letter and its accompanying documentation, thereby enabling the continued development and future integration of the project into Portugal's renewable energy ecosystem. Additionally, Eco Wave Power has informed E-REDES of a tentative grid-connection date scheduled for 2026, pending final permitting, construction, and regulatory procedures. This important step underscores Eco Wave Power's commitment to accelerating the deployment of reliable and innovative wave energy solutions in new markets and aligns with Portugal's national objectives to increase the share of renewables in its energy mix. Eco Wave Power's project in Portugal represents a cornerstone of the Company's European growth strategy and marks its first megawatt-scale deployment in the region. Located at the City of Porto this 1MW implementation is the first phase of a 20MW concession agreement signed with APDL (Administração dos Portos do Douro, Leixões e Viana do Castelo, S.A). The project's trajectory accelerated in March 2024, when Eco Wave Power received the final permit (TURH) from APDL, clearing the way for physical works to begin. Demonstrating its commitment, the Company also issued a performance bond, ensuring the project's completion within a two-year timeframe. In August 2024, CEO Inna Braverman and the Company's engineering team officially launched the project with a visit to 'The Gallery', a unique tunnel located beneath the breakwater that will host the wave energy conversion unit. The site is also set to become the world's first underwater wave energy museum and education center, opening its doors to the public in the future. In February 2025, Eco Wave Power began key infrastructure enhancements at 'The Gallery' to prepare it for both equipment installation and eventual public access. These upgrades included removing accumulated sand and debris, reinforcing structural elements by replacing doors and windows, and implementing waterproofing measures to ensure ideal operational conditions. To support efficient execution, Eco Wave Power appointed Juan José Gómez as Power Station Manager, bringing with him a wealth of experience in renewable energy operations. The Company also engaged MOQ Engineering, a leading Portuguese engineering firm, to conduct final design work and load calculations using advanced tools such as Building Information Modeling (BIM) and parametric design. This collaboration reinforces Eco Wave Power's commitment to delivering a safe, effective, and cutting-edge energy solution. Legal guidance is being provided by PLMJ, one of Portugal's leading law firms, with Joana Brandão advising Eco Wave Power since 2020. These local partners ensure a resilient, community-rooted project ecosystem. 'Portugal is not only a global leader in renewable energy—it is now leading the way in wave energy commercialization,' said Inna Braverman, Founder and CEO of Eco Wave Power. 'By securing grid connection for our first 1MW station, we are turning vision into reality. This is more than an infrastructure milestone—it's a signal that wave energy is moving from concept to contribution. Together with our incredible partners in Portugal, we are building a new era of clean, predictable power sourced directly from the ocean.' Strategically situated along the Atlantic coast, Portugal offers some of the highest wave energy potential in Europe, coupled with a forward-looking regulatory framework that actively supports marine renewable innovations. The country has committed to sourcing 85% of its electricity from renewables by 2030 - up from 61% in 2023 - making it a natural partner for Eco Wave Power's patented onshore wave energy technology. About Eco Wave Power Global AB (publ) Eco Wave Power is a leading onshore wave energy company revolutionizing clean energy with patented, smart, and cost-efficient technology that converts ocean and sea waves into sustainable electricity. Committed to fighting climate change, Eco Wave Power operates the world's first grid-connected wave energy system in Israel, co-funded by EDF Renewables IL and the Israeli Energy Ministry, which recognized the technology as 'Pioneering Technology.' The Company is expanding globally with projects planned in Los Angeles, Taiwan, India, and Portugal, adding to a robust pipeline of 404.7 MW. Supported by prestigious organizations such as the European Union Regional Development Fund, Innovate UK, and Horizon 2020, Eco Wave Power was also honored 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: [email protected]. 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 expectation of the planned the 1MW station's integration into Portugal's renewable energy system; and the expected grid-connection date scheduled for 2026. 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. To view the source version of this press release, please visit
Associated Press
12-05-2025
- Business
- Associated Press
Eco Wave Power to Participate in Ladenburg Thalmann Innovation EXPO25 on May 21, 2025
Eco Wave Power to Spotlight U.S. Market Momentum and Investment Opportunities in Renewable Ocean Energy STOCKHOLM, SWEDEN - May 12, 2025 ( NEWMEDIAWIRE ) - Eco Wave Power Global AB (publ) (NASDAQ: WAVE) ('Eco Wave Power' or the 'Company'), a leader in onshore wave energy technology, is pleased to announce participation in the Ladenburg Thalmann Innovation EXPO25, to be held on May 21, 2025, at Convene, 101 Park Avenue, New York, NY. Inna Braverman, Founder and CEO of Eco Wave Power, is scheduled to present key updates on the Company's existing and upcoming projects, including: Inna Braverman's presentation will take place on Wednesday, May 21st, 2025, at 3:30 PM EST. Throughout the conference, Inna Braverman will also be available for investor meetings to discuss Eco Wave Power's growth strategy and technological advancements in the wave energy sector. The Ladenburg Thalmann Innovation EXPO25 is a premier event bringing together a diverse group of innovative companies and institutional investors for a full day of presentations, one-on-one meetings, and networking opportunities. The conference will feature approximately 50 technology companies that leverage AI in innovative and breakthrough ways. Participating companies will present their business strategies and innovations through three dedicated presentation tracks and demonstrate their products live in the 'Ladenburg Expo format.' Organized by Ladenburg Thalmann with marketing support from B2i Digital, Inc., the EXPO25 provides a unique platform for companies to engage directly with institutional and high-net-worth investors, public company executives, and industry professionals. 'Eco Wave Power is uniquely positioned at the intersection of innovation and implementation. With projects underway in the U.S., Europe and Asia, we are actively expanding our footprint to new high-potential markets. The Ladenburg Innovation EXPO25 gives us a prime opportunity to engage with investors, who are looking for the next breakthrough in cleantech,' said Inna Braverman, Founder and CEO of Eco Wave Power. 'Ladenburg Thalmann is committed to building valuable connections between innovative companies and discerning investors,' said Mark Green, Managing Director, Investment Banking at Ladenburg Thalmann. 'As the Marketing Partner, B2i Digital is focused on helping companies participating in the Ladenburg EXPO25 maximize their exposure to the investment community before, during and after the event,' said David Shapiro, CEO of B2i Digital, Inc. 'Ladenburg Thalmann has carefully curated the presenting companies to include only the highest caliber disruptors in the technology and AI space. Our investors will value the insights they share.' The Ladenburg Innovation EXPO25 will include presentations, product demonstrations, and one-on-one meetings. Attendees will have multiple opportunities to connect throughout the day, with breakfast, a buffet lunch, and all-day refreshments provided. For more information about the Ladenburg Thalmann Innovation EXPO25, visit: 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 totaling 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 honored 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: [email protected] Forward Looking Statements Certain matters discussed in this press release constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, and other U.S. federal securities laws. Words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates' and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is making forward-looking statements when it discusses being at the intersection of innovation and implementation, the Company actively expanding its footprint to new high-potential markets, and the possibility of a breakthrough in cleantech These forward-looking statements generally relate to the company's plans, objectives, and expectations for future operations and are based on management's current estimates and projections, future results, or trends. Actual results may differ materially from those projected as a result of certain risks and uncertainties. For a discussion of such risks and uncertainties, please see Risk Factors as described in Eco Wave Power's Annual Report on Form 20-F filed with the SEC, which is available on the SEC's website, About Ladenburg Thalmann Ladenburg Thalmann is a US middle market diversified financial services firm headquartered in New York and engaged in investment banking, focusing on fundraising, buyside & sellside M&A, high-yield debt, and private equity access for public and private companies. The firm also provides equity research, institutional sales and trading, independent brokerage, advisory services, trust services, and asset management. Together with its parent, Osaic, Ladenburg Thalmann has over 12,000 financial advisors in the US, managing over $650 billion in client assets. Ladenburg is a member of NYSE, NYSE American, FINRA, all other principal exchanges, and SIPC. Securities are offered through Ladenburg Thalmann & Co. Inc. broker-dealer, and advisory services are offered through Ladenburg Thalmann Asset Management ('LTAM'), an SEC registered investment advisor. Ladenburg Thalmann Contact: Mark Green [email protected] 800.995.5267 About B2i Digital, Inc. B2i Digital, Inc. leverages the latest digital marketing technologies to tell a company's story to retail investors, institutional investors, and research analysts. B2i Digital creates robust profiles for companies on its platform, and launches targeted digital marketing campaigns to bring the most relevant investors to each company based on its sector, stage, and overall company story. B2i Digital was founded in 2021 by David Shapiro, previously the Chief Marketing Officer and an investment banker at Maxim Group LLC. David was also one of the founders of Maxim's investor awareness platform, B2i Digital Contact Information: David Shapiro Chief Executive Officer B2i Digital, Inc. 212.579.4844 Office [email protected]
Geeky Gadgets
12-05-2025
- Science
- Geeky Gadgets
The Untapped Power of Waves: Could Ocean Energy Outshine Solar and Wind?
What if the key to solving the renewable energy puzzle has been quietly rolling beneath the surface all along? While solar panels and wind turbines dominate the conversation, the vast, untapped power of the ocean remains largely overlooked. Yet, with the potential to generate an estimated 770 terawatt-hours of electricity annually along U.S. coastlines alone, wave energy could power tens of millions of homes. Unlike solar and wind, which ebb and flow with the weather, waves offer a steady, year-round energy source—a fantastic option for stabilizing renewable energy grids. The question is no longer whether wave energy can compete but whether it might one day surpass its more established counterparts. This overview Matt Ferrell explores the emerging potential of wave energy and the technological breakthroughs driving its progress. From AI-enhanced systems that optimize energy capture to innovative buoy designs that harness the full force of ocean waves, the field is advancing rapidly. But challenges remain: environmental concerns, high initial costs, and the harsh realities of marine environments. Could Ocean energy finally overcome these hurdles and rise to the forefront of the renewable energy revolution? The answer may reshape how we think about the future of sustainable power. The Rise of Wave Energy Why Wave Energy Holds Untapped Potential The oceans represent an immense, largely untapped source of renewable energy. Along U.S. coastlines alone, wave energy converters (WECs) have the potential to generate an estimated 770 terawatt-hours (TWh) of electricity annually—enough to power approximately 71 million homes. This vast energy reserve highlights the scale of opportunity that wave energy presents. Unlike solar and wind energy, which are inherently intermittent due to weather and time-of-day dependencies, wave energy offers a more consistent and predictable power supply. This reliability becomes particularly valuable during winter months when solar energy production is at its lowest. By complementing solar and wind, wave energy could help stabilize renewable energy grids and reduce reliance on fossil fuels during periods of low solar and wind output. Technological Innovations Driving Progress Recent technological advancements are accelerating the path toward commercial viability for wave energy. Companies like CorPower Ocean are pioneering innovative solutions to maximize energy capture and efficiency. One of their key developments is an advanced buoy system that employs a 'point absorber' design. This technology harnesses energy from both the crests and troughs of waves, significantly enhancing energy output. Additionally, the integration of WaveSpring resonance technology allows the buoy's motion to synchronize with incoming waves, further optimizing energy capture. Artificial intelligence (AI) is also playing a fantastic role in wave energy systems. AI-driven control systems enable real-time adjustments to maximize energy production while safeguarding equipment during extreme weather conditions. These systems enhance both efficiency and durability, addressing two critical challenges in wave energy deployment. Another notable innovation is the use of mobile factories for on-site buoy production. By manufacturing buoys closer to deployment sites, companies can reduce transportation costs, lower carbon footprints, and streamline the production process. These advancements collectively make wave energy more scalable and economically viable. Waves vs Solar vs Wind Power Watch this video on YouTube. Unlock more potential in new technology by reading previous articles we have written. Economic Viability: The Path to Cost Parity Achieving cost parity with solar and wind energy is a crucial milestone for wave energy to gain widespread adoption. Experts suggest that deploying approximately 2,000 buoys could significantly reduce costs through economies of scale. Additionally, co-locating wave farms with offshore wind farms presents a practical solution to lower expenses. By sharing infrastructure such as subsea cables, maintenance vessels, and grid connections, wave energy projects can reduce operational costs and improve overall efficiency. These synergies not only make wave energy more competitive but also accelerate its integration into the renewable energy mix. As costs continue to decline, wave energy could become a viable option for countries seeking to diversify their renewable energy portfolios. Addressing Environmental Concerns While wave energy holds immense promise, it also faces scrutiny over potential environmental impacts. Concerns include underwater noise, electromagnetic fields, and disruptions to marine ecosystems. These issues have prompted companies like CorPower Ocean to adopt proactive measures aimed at minimizing ecological footprints. For instance, quieter installation methods are being developed to reduce noise pollution during the deployment of wave energy systems. Advanced environmental monitoring systems are also being implemented to assess and mitigate potential impacts on marine life. By addressing these concerns, the wave energy sector aims to align with global sustainability goals and ensure that its growth does not come at the expense of marine ecosystems. Global Momentum in Wave Energy The global ocean energy sector is gaining momentum, with Europe leading the charge. Countries such as Portugal, Scotland, and Ireland have established themselves as pioneers in wave energy development, supported by robust funding and operational test sites. Pilot projects in these regions are demonstrating the feasibility of commercial wave farms and setting the stage for broader adoption. In the United States and Australia, wave energy is still in its early stages. However, recent legislative initiatives and increased funding indicate growing interest in this renewable resource. For example, the U.S. Department of Energy has launched programs to support wave energy research and development, aiming to bridge the gap with European leaders. These efforts signal a shift toward greater global collaboration in advancing wave energy technologies. The Road Ahead The future of wave energy is filled with potential, but significant challenges remain. CorPower Ocean's plans to deploy its first commercial wave farm in Ireland by 2026, with ambitions to scale to 30 megawatts (MW) by 2028, highlight the sector's progress. However, overcoming barriers such as high upfront costs, technological refinement, and environmental concerns will be critical to achieving widespread adoption. If these challenges are addressed, wave energy could become a reliable and cost-effective addition to the global renewable energy mix. By complementing solar and wind, it has the potential to play a pivotal role in the transition to a sustainable energy future. As the world continues to seek innovative solutions to combat climate change, wave energy stands as a promising contender in the quest for clean, renewable power. Media Credit: Undecided with Matt Ferrell Filed Under: Technology News, Top News Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
