Eco Wave Power to unveil its first US based wave energy power station, showcasing its innovative technology during a high-profile news conference on January 12 at AltaSea at the Port of Los Angeles

This occasion comes at a time when weather-related disasters throughout California are inflicting lack of life and in depth injury, highlighting the pressing want for different power applied sciences to assist reply to the local weather disaster.

Los Angeles, California (January 11, 2023) – Eco Wave Energy World AB (publ) (Nasdaq: WAVE) (“Eco Wave Energy” or the “Firm”) will unveil its disruptive expertise for the primary time through the AltaSea Occasion on the twelfth of January 2023. The press convention may also function the grand opening and ribbon-cutting of an workplace and industrial mortgage hub of the Useful State Financial institution (“BSB”), which helps applied sciences associated to the blue economic system.

The press convention will function Kat Taylor, the philanthropist who based BSB in 2007, together with Eco Wave Energy Founder and CEO Inna Braverman.

Becoming a member of them on stage to deal with the press convention had been:

• Hon. Tim McOsker, member of the Los Angeles Metropolis Council

• Dr. Melanie Lundquist LHD, AltaSea Trustee & Giving Pledge Signatory
• Terry Tamminen, President & CEO of AltaSea & former CalEPA Secretary
“We’re excited to display our expertise for the primary time in the US on our approach to including wave power to the renewable power combine within the US, which the nation can depend on because it strikes in the direction of a 100% renewable power in future,” stated Braverman, who based Eco Wave Energy on the age of 24. “I am excited to face with two influential girls like Kat and Melanie as Eco Wave Energy reveals what our new expertise can do for the way forward for California and the nation.”

In keeping with the US Power Data Administration, wave power can provide as much as 66% of the power wants of the US, and that is particularly vital contemplating a current UN examine that reveals that nearly 60% of air pollution on the earth is instantly attributable to the best way that. the world now produces its electrical energy.

Moreover, the information convention comes on the heels of California experiencing punishing rains and lightning which have left many useless and brought about in depth property injury and vital flooding throughout the state. As well as, California is dealing with extra storms attributable to “atmospheric rivers,” a persistent circulation of water that’s arriving at an unprecedented charge.

“Clearly, mom nature is sending a message that there are extreme climate circumstances because of local weather change. One reply is to make use of renewable power that doesn’t hurt our planet, however helps to satisfy the necessity for of unpolluted electrical energy,” Braverman stated.

AltaSea’s pilot mission marks the official arrival of Eco Wave Energy expertise in the US, and is believed to be the primary on-shore wave power expertise to be deployed in the US.

Final yr, Eco Wave Energy entered into an settlement with AltaSea to implement a first-of-its-kind wave power pilot at AltaSea’s Port of Los Angeles web site. In simply over a yr, Eco Wave Energy efficiently modified, upgraded, and introduced the conversion unit to Los Angeles. The mission timeline reveals one other good thing about Eco Wave Energy’s patented expertise – its capability to be simply transported and replicated to swimsuit the nation’s coastal power wants.

Eco Wave Energy, a world chief in producing clear power via the ability of ocean waves, has efficiently deployed its patented, environmentally secure expertise world wide, with plans to develop energy station in the US, Spain, Turkey, Portugal, and so forth. areas, as a part of the Firm’s 404.7 MW mission pipeline.

About Eco Wave Energy World AB (publ)

Eco Wave Energy is a number one onshore wave power expertise firm that has developed a patented, good and cost-efficient expertise for turning ocean and sea waves into inexperienced electrical energy. Eco Wave Energy’s mission is to assist combat local weather change by making industrial electrical energy manufacturing from oceans and ocean waves.

The Firm is at present finalizing the development of its grid related mission in Israel, with co-investment from the Israeli Power Ministry, which acknowledged the Eco Wave Energy expertise as “Pioneering Know-how” and can quickly start the set up of his new pilot at AltaSea’s premises. within the Port of Los Angeles. The Firm additionally holds concession agreements for industrial installations in Europe and has a complete pipeline of initiatives of 404.7MW.

Eco Wave Energy receives funding from the European Union Regional Improvement Fund, Innovate UK and the Horizon 2020 framework program of the European Fee. The Firm additionally obtained the “World Local weather Motion Award” from the United Nations.

Eco Wave Energy’s American Depositary Shares (WAVE) are traded on the Nasdaq Capital Market.

Learn extra about Eco Wave Energy at Data on, or accessible via, the web sites talked about above will not be a part of this press launch.

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