CRETE, Greece, July 20, 2023 /PRNewswire/ -- Inna Braverman, Chief Executive Officer of Eco
Wave Power Global AB (publ) (Nasdaq Capital Market: WAVE) ("Eco
Wave Power" or the "Company"), a leading, publicly traded onshore
wave energy company, traveled to Greece for an official site visit of the
Heraklion breakwater in Crete,
which is currently being analyzed for a potential 2MW wave energy
power station.
During the visit, the representatives from Eco Wave Power and
Rogan Associates S.A. inspected the breakwater at the Port of
Heraklion ("Port"), from both the shore and the seaside, and held
meetings with the managing director at Heraklion Port Authority
A.E., Mr. Minas Papadakis, and other port representatives, to
provide updates regarding the milestones achieved so far in the
planning of the project.
The next steps of the project will be to conduct further studies
and analyses of the site, with Rogan Associates S.A. focusing on
the civil engineering and pricing for a 2 MW installation, and Eco
Wave Power working on the detailed project design.
During a joint interview of Ms. Braverman and Mr. Papadakis with
CRETA– the official news channel of Crete – Mr. Papadakis described the
prospective installation of a 2 MW power station at the Port as an
integral component of the Port's sustainability initiatives, aimed
at mitigating port emissions and fostering a cleaner operational
environment. Mr. Papadakis conveyed his excitement about the
possibility of the Port of Heraklion being home to pioneering wave
energy technology and also expressed his satisfaction with the
progress that both parties have made, emphasizing the
transformative impact that the implementation of wave energy at the
Port would have on Crete and other
coastal communities throughout Greece.
"We are encouraged by the progress that Eco Wave Power and Rogan
Associates S.A. have made in their efforts to bring wave energy to
the Port," said Mr. Papadakis. "The successful implementation of
this project would not only contribute to the sustainable
development of Crete but would
also serve as a beacon of innovation for coastal communities across
Greece, showcasing the potential
of renewable energy sources."
We are pleased with the progress and collaboration with Eco Wave
Power in bringing another source of renewable energy to
Greece," said Dr. Christos D. Solomonidis, chairman of the board
of directors and partner of Rogan Associates S.A. "We believe that
the Port will be a pioneering location for Eco Wave Power's
innovative technology and we are excited that our potential project
could provide a blueprint for ports around the world to drastically
reduce their emissions and provide an untapped source of clean,
renewable energy to future beneficiaries."
In April 2023, Eco Wave Power
entered into an agreement with Rogan Associates S.A. to bring Eco
Wave Power's innovative wave energy technology design to
Greece for the first time in the
country's history. Rogan Associates S.A., considered one of
Southeast Europe's leading
consulting engineering firms in port & waterfront development,
has over 45 years of experience in marine-related projects,
including coastal engineering, port operation and management,
maritime and harbor works, and urban analysis and planning both
regionally and internationally.
According to the collaboration agreement, Rogan Associates S.A.
is reinforcing the existing breakwater and planning the potential
extension of the breakwater. In addition to the completion of the
wave energy production analysis, Eco Wave Power will custom-design
its wave energy technology to retrofit the existing breakwater at
the Port.
This work conducted by the parties is funded as part of a grant
received by Rogan Associates S.A. and Heraklion Port Authority from
the European Union Climate, Infrastructure, and Environment
Executive Agency.
This grant and the agreement mark a long-term productive
collaboration between Eco Wave Power and the different European
Union (EU) funding programs and reinforces Eco Wave Power's
long-standing focus on the European market. In the past, the
Company has co-funded its historic Gibraltar project with funding from the
European Regional Development Fund and also received a grant from
the Horizon2020 Phase A EU funding program. Eco Wave Power is also
currently taking part in the Iliad consortium, which was awarded
€17 million by the EU.
About Rogan Associates SA
Rogan Associates S.A. is an International Consulting Engineering
Firm specialized in Port and Waterfront Development. Rogan
Associates S.A. has been offering its Services worldwide since
1977, and it has completed more than 1000 Projects in more than 40
countries, acting as a Technical Coordinator and Activity Leader in
most of them. The Firm's activities include Harbour and Coastal
Engineering, Port Engineering Design, Port Master Planning, Sea
Transportation, as well as Environmental and Social Impact
Assessment Studies.
The Firm covers all phases of project realization: from
Conceptual Design, Feasibility Studies and Master Planning, to
Environmental and Social Impact Assessment, Final Construction
Design, preparation of Tender Dossiers, and Construction
Supervision. The firm also covers all the management procedures
including adequate coordination, control procedures, quality and
risk management and monitoring mechanisms, ensuring the effective
execution and the timely production of the deliverables.
Furthermore, the firm has been involved as the Activity
Leader responsible for all technical aspects of Port Infrastructure
and Engineering Design, in several projects the last 10 years
focusing on FSU/ FSRU-based LNG terminals, and on small scale LNG
bunkering, in major European Ports.
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 404.7MW.
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
+972 3 5094017
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 the next steps
of the project in conducting further studies and analyses of the
site, that the prospective installation of a 2 MW power station
would be an integral component of the Port's sustainability
initiatives, the possibility of the Port being home to pioneering
wave technology, the transformative impact the implementation of
wave energy at the Port would have on Crete and other coastal communities in
Greece, that the successful
implementation of this project would contribute to the sustainable
development of Crete and serve as
a beacon of innovation for coastal communities in Greece, that the Port will be a pioneering
location of the Company's innovative technology, that the potential
project could provide a blueprint for ports around the world for
emissions reduction and provide clean, renewable energy to future
beneficiaries. 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/18497/3807860/2198236.pdf
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