Eco Wave Power Appoints Juan Jose Gomez as the Power Station Manager of its Portuguese Project

Rhea-AI Summary

Eco Wave Power (NASDAQ: WAVE) has appointed Juan Jose Gomez as Power Station Manager for its Portuguese wave energy project. Juan, who previously managed Eco Wave Power's pilot project in Gibraltar, will oversee the execution, operation, and maintenance activities of the Portuguese initiative. This appointment marks a significant step in the company's global expansion strategy and commitment to Portugal's renewable energy goals.

Juan's responsibilities will include optimizing efficiency, ensuring regulatory compliance, and managing collaboration with local partners and subcontractors. His prior experience with the company's technology and proven track record in project execution positions him as a strategic choice for advancing this initiative.

Positive

• Strategic hire with proven experience from company's Gibraltar pilot project
• Strengthens execution capability for Portuguese expansion
• Enhances operational continuity with experienced leadership

Negative

• None.

PORTO, Portugal, Dec. 16, 2024 /PRNewswire/ -- Eco Wave Power Global AB (publ) (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a leading innovator in onshore wave energy technology, is pleased to announce the appointment of Juan Jose Gomez to spearhead the execution of its ambitious wave energy project in Portugal. With his extensive expertise and proven leadership in renewable energy initiatives, Juan will also oversee the operation and maintenance (O&M) activities once the project becomes operational.

Juan previously played a pivotal role in managing Eco Wave Power's pilot project in Gibraltar, where he demonstrated exceptional skill in project execution, technical management, and stakeholder collaboration. His deep understanding of Eco Wave Power's innovative technology, coupled with his dedication to driving sustainable energy solutions, makes him the ideal leader to advance the Company's efforts in Portugal.

The Portuguese project represents a significant stage in Eco Wave Power's global expansion strategy and its commitment to supporting Portugal's renewable energy goals. Juan's leadership will ensure that the project progresses seamlessly through its construction and implementation phases, laying a strong foundation for its long-term success.

His extensive experience in managing wave energy projects will be instrumental in optimizing efficiency, ensuring regulatory compliance, and fostering collaboration with local partners and subcontractors. These efforts are expected to accelerate the project timeline and set a new standard for renewable energy projects in the region.

Commenting on his appointment by Eco Wave Power, Juan stated, "I am honored to rejoin this incredible team and take on the exciting challenge of leading the Portuguese project. My previous experience with the Company has equipped me with the knowledge and tools necessary to make a significant impact as we push the boundaries of wave energy innovation."

Eco Wave Power's Chief Executive Officer, Inna Braverman, added, "Juan's track record speaks for itself. His technical expertise, leadership skills, and passion for renewable energy are invaluable assets to our Company. By entrusting him with the execution a management of our Portuguese project, we are reinforcing our commitment to delivering high-quality, sustainable energy solutions."

This milestone further cements Eco Wave Power's position as a leader in the global wave energy sector and underscores its dedication to fostering a sustainable future. With Juan at the helm of the Portuguese project, the Company is poised to achieve significant progress and set a precedent for renewable energy development worldwide.

About Eco Wave Power Global AB (publ)

Eco Wave Power is a leading onshore wave energy company revolutionizing clean energy with its patented, smart, and cost-efficient technology that converts ocean and sea waves into sustainable electricity.

Dedicated to combating climate change, Eco Wave Power operates the first grid-connected wave energy system in Israel, co-funded by EDF Renewables IL and the Israeli Energy Ministry, which recognized the technology as a "Pioneering Technology."

Expanding globally, Eco Wave Power is preparing to install projects at the Port of Los Angeles, Taiwan, and Portugal, adding to its impressive project pipeline totalling 404.7 MW.

The Company has received support from prestigious institutions such as the European Union Regional Development Fund, Innovate UK, and the Horizon 2020 program, and was honored with the United Nations' Global Climate Action Award.

Eco Wave Power's American Depositary Shares (WAVE) are traded on the Nasdaq Capital Market. Learn more at www.ecowavepower.com.

Information on, or accessible through, the websites mentioned above does not form part of this press release.

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 anticipated role of Juan in his new position, the belief that Juan's deep understanding of Eco Wave Power's innovative technology, coupled with his dedication to driving sustainable energy solutions, makes him the ideal leader to advance the Company's efforts in Portugal, the belief that the Portuguese project represents a significant stage in Eco Wave Power's global expansion strategy and its commitment to supporting Portugal's renewable energy goals, the belief that Juan's leadership will ensure that the project progresses seamlessly through its construction and implementation phases, laying a strong foundation for its long-term success, that Juan's extensive experience in managing wave energy projects will be instrumental in optimizing efficiency, ensuring regulatory compliance, and fostering collaboration with local partners and subcontractors, efforts which are expected to accelerate the project timeline and set a new standard for renewable energy projects in the region, the belief that Juan's previous experience with the Company has equipped him with the knowledge and tools necessary to make a significant impact as we push the boundaries of wave energy innovation, the belief that his hire reinforces the Company's commitment to delivering high-quality, sustainable energy solutions, the belief that Juan's hire cements Eco Wave Power's position as a leader in the global wave energy sector and underscores its dedication to fostering a sustainable future, and the belief that with Juan's hire, the Company is poised to achieve significant progress and set a precedent for renewable energy development worldwide. 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, 2023 filed with the SEC on March 28, 2024, 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.

For more information, please contact:
Info@ecowavepower.com

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FAQ

What is the significance of Juan Jose Gomez's appointment for WAVE's Portuguese project?

Juan Jose Gomez's appointment is significant as he brings direct experience from WAVE's Gibraltar pilot project and will oversee execution, operation, and maintenance of the Portuguese wave energy project, supporting the company's global expansion strategy.

What are Juan Jose Gomez's main responsibilities in WAVE's Portuguese project?

His main responsibilities include overseeing project execution, managing operation and maintenance activities, optimizing efficiency, ensuring regulatory compliance, and coordinating with local partners and subcontractors.

How does this appointment impact WAVE's expansion strategy?

The appointment strengthens WAVE's global expansion strategy by bringing experienced leadership to the Portuguese project, which represents a significant stage in the company's international growth and commitment to renewable energy development.

What experience does Juan Jose Gomez bring to WAVE's Portuguese project?

Juan Jose Gomez brings extensive experience in managing wave energy projects, including previous success in managing WAVE's pilot project in Gibraltar, where he demonstrated expertise in project execution and technical management.