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Israeli Electricity Grid Officially Connected to Eco Wave Power

Kiara Mandavia

Sep 1, 2023

Eco Wave Power claims its entire system, from floater to grid, is about 50% efficient, meaning about 50 percent of the incoming wave energy is successfully converted to electricity.

Inna Braverman, CEO of Eco Wave Power receives the official grant for the Israel Project. The announcement was made on August 15, 2023 where a Press release was held to give out the complete details of the project. 

Eco Wave Power came into existence when the Founder and CEO Inna Braverman came forward about her tragic experience with the nuclear disaster when the Chernobyl nuclear reactor exploded. At the age of 24, she established Eco Wave power with the idea that Wave energy alone can produce twice the amount of electricity that the world produces now.

“We are proud to see our vision of sustainable wave energy becoming a reality at the Port of Jaffa,” said Eco Wave Power Founder and Chief Executive Officer Inna Braverman. “I am grateful to the EDF Renewables IL team, Israeli Energy Ministry, the Atarim Group (which manages and develops the Tel-Aviv Jaffa coastline), and my entire team at Eco Wave Power who worked tirelessly to take this project from an idea to a new source of clean energy for Israel. We believe this is just the start for wave energy and we are excited for this station to serve as a catalyst for many more projects across the globe.” she further added. 

Ten floaters along the port's pre-existing breakwater form the wave energy system that has been constructed there. Each floater has a direct connection to the land-based energy conversion unit of Eco Wave Power, allowing for simple access for operational maintenance and upgrades. 

Delivering its first energy supply to the country, EWP has officially connected to Israel’s national grid. The Eco Wave Power technology has been designated as a "pioneering technology" by the Israeli Energy Ministry. 

The EWP-EDF One power station will not only provide clean energy to Israel's electrical grid, however it will also act as a public educating center. Eco Wave Power recently announced that it has obtained the European Union's GREENinMED award, which will cover the construction and installation of a one-of-a-kind teaching experience at the Port of Jaffa station.

The European Union Regional Development Fund, Innovate UK, and the European Commission's Horizon 2020 framework program contributed funding for Eco Wave Power. The United Nations also bestowed the "Global Climate Action Award" to the company.

The American Depositary Shares (WAVE) of Eco Wave Power are traded on the Nasdaq Capital Market.

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