Grant will focus on educating public on importance of
clean energy sources and will help Eco Wave Power build
knowledge-sharing features at Company's latest power
station.
TEL AVIV, Israel, July 13, 2023 /PRNewswire/ -- Leading global wave
energy developer Eco Wave Power Global AB (publ) (Nasdaq:WAVE)
("Eco Wave Power" or the "Company") is pleased to announce the
approval of the GREENinMED grant, provided by the European Union,
under the ENI CBC Mediterranean Sea Basin Programme.
The GREENinMED grant is promoted and managed by a consortium of
parties from Spain, France, and Israel. These groups include:
- The Official Chamber of Commerce, Industry, Services, and
Navigation of Spain
- Arava Institute for Environmental Studies (Israel),
- Kinneret Academic College on the Sea of Galilee (Israel) (the "Kinneret Academic
College"),
- Capenergies (France), and
- The Israel Water Association.
Eco Wave Power's project was selected to be a grant recipient by
the Kinneret Academic College, with the goal of adding educational
and knowledge-sharing features for Eco Wave Power's newest wave
energy power station located at the Port of Jaffa in Israel, promoting and facilitating the
adaptation of technologies and equipment that will produce new
eco-innovative products for the tourism industry in Israel.
Eco Wave Power will use the funding toward the creation and
installation of a knowledge sharing experience for the local
population, as well as tourists from around the world,
making the EDF EWP One wave energy power
station a unique tourist attraction at the Port of Jaffa, as well
as introducing Eco Wave Power as a shining example of Israeli
innovation.
This grant marks another milestone in the long-term productive
collaboration between Eco Wave Power and various European Union
(EU) funding programs, and also reinforces Eco Wave Power's
long-standing focus on the European market. The Company's historic
station in Gibraltar was co-funded
by the European Regional Development Fund, and Eco Wave Power also
received a grant from the Horizon2020 phase A- EU funding program.
Eco Wave Power is currently taking part in the Iliad consortium,
which was awarded 17 million Euro by
the EU.
"We are grateful for the continuous support from the EU,
as they continue to prioritize clean energy and consider
sustainability in their funding," said Inna
Braverman, Founder and Chief Executive Officer of Eco Wave
Power. "We believe that our wave energy technology can not only
create clean electricity for the local population, but also
transform the entire community by creating new workplaces and jobs,
as well as educate the local community and foreign visitors on the
power and importance of sustainable energy sources. This is a true
win-win for Israel."
"Eco Wave Power's mission and technology align well with the
European Union's vision to create a new way of generating renewable
energy," stated Prof. Ram Shpiner from the Kinneret Academic
College. "As a college focusing on water engineering and
environmental sustainability, we believe that companies like
Eco Wave Power will help the EU meet its ambitious goals to address
the climate crisis."
For more information about this project, please see the official
project video, produced with the financial support of the EU under
the ENI CBC Programme:
https://www.youtube.com/watch?v=9ifPoRKr8f8 (which does not
constitute a part of this press release).
About Eco Wave Power Global AB (publ)
Eco Wave Power is a leading 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.
The Company is currently finalizing the construction of its grid
connected project in Israel, with
co-investment from the Israeli Energy Ministry, which recognized
the Eco Wave Power technology as "Pioneering Technology" and will
soon commence the installation of its newest pilot in AltaSea's
premises in the Port of Los
Angeles. The Company also holds concession agreements for
commercial installations in Europe
and has a total projects pipeline of 404.7 MW.
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's American Depositary Shares (WAVE) are traded on
the Nasdaq Capital Market.
Read more about Eco Wave Power at www.ecowavepower.com.
Information on, or accessible through, the websites mentioned above
does not form part of this press release.
For more information, please contact:
Inna Braverman, CEO
Inna@ecowavepower.com
+97235094017
For media inquiries, please contact:
Jacob Scott, Vectis
Strategies
+1.412.445.7719
jscott@vectisstrategies.com
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: its belief that
its wave energy technology can not only create clean electricity
for the local population, but also transform the entire community
by creating new workplaces and jobs, as well as educate the local
community and foreign visitors on the power and importance of
sustainable energy sources; its mission; its planned use of
proceeds from the GREENinMED grant; and the Kinneret Academic
College's belief that companies like Eco Wave Power will help the
EU meet its ambitious goals to address the climate crisis.
Forward-looking statements can be identified by words such as:
"anticipate," "intend," "plan," "goal," "seek," "believe,"
"project," "estimate," "expect," "strategy," "future," "likely,"
"may," "should," "will", or variations of such words, and similar
references to future periods. 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, 2022 filed with the SEC
on April 27, 2023, which is available
on the on the SEC's website, www.sec.gov, 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.
The following files are available for download:
https://mb.cision.com/Main/18497/3804035/2185279.pdf
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