Eco Wave Power (Nasdaq US Stock Symbol: WAVE) developed an innovative technology for production of clean electricity from ocean and sea waves. EWP’s innovative technology has been recognized as a “Pioneering Technology” by the Chief Scientist of the Energy Ministry of Israel and received an Efficient Solution label from Solar Impulse Foundation. The company is pioneering in its’ sector by operating the ONLY grid-connected wave energy array in the world, which is operational under a PPA (Power Purchase Agreement) and holds substantial number of projects in its’ pipeline.
The EWP technology has attractive construction and production prices. EWP’s cost is significantly lower than offshore competition, since during Eco Wave Power’s installation and O&M activities, the company does not require the use of ships, divers, underwater cabling and mooring. Eco Wave Power’s technology is highly reliable as most of the cost of the system located on land, and only the floater mechanisms are located in the water. Therefore, the Eco Wave Power conversion unit is not subject to an aggressive marine environment. Furthermore, the Company utilizes storm protection mechanism, which prevents damages to the floaters during storms.
The Eco Wave Power system is 100% environmentally friendly as it does not connect to the ocean floor and does not create a new presence on the ocean floor.
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