Eco Wave Power's Wave Energy System at Jaffa Port Demonstrates Reliability with 24/7 Power Production
Eco Wave Power (NASDAQ: WAVE) announced that its EWP-EDF One wave energy project at Jaffa Port, Israel, achieved continuous operation during the last week of December 2024. The system demonstrated peak production of 26KW with an average wave height of 1.6 meters, operating reliably even during stormy conditions without damage.
The company is expanding globally with several projects: a wave energy installation at AltaSea in the Port of Los Angeles (in collaboration with Shell MRE) expected to begin operations by Q1 2025, which recently received a federal license from the U.S. Army Corps of Engineers; ongoing developments in Taiwan in collaboration with I-KE; and planned deployments in Portugal.
This milestone demonstrates wave energy's potential as a reliable, non-intermittent power source, particularly effective in coastal areas where waves are consistent, offering advantages over other intermittent renewable energy sources.
Eco Wave Power (NASDAQ: WAVE) ha annunciato che il suo progetto di energia ondosa EWP-EDF One presso il Porto di Jaffa, in Israele, ha raggiunto il funzionamento continuo durante l'ultima settimana di dicembre 2024. Il sistema ha dimostrato una produzione massima di 26KW con un'altezza media delle onde di 1,6 metri, operando in modo affidabile anche durante condizioni tempeste senza subire danni.
L'azienda si sta espandendo a livello globale con diversi progetti: un'installazione di energia ondosa ad AltaSea nel Porto di Los Angeles (in collaborazione con Shell MRE) prevista per iniziare le operazioni entro il primo trimestre del 2025, che ha recentemente ricevuto una licenza federale dal Corpo degli Ingegneri dell'Esercito degli Stati Uniti; sviluppi in corso a Taiwan in collaborazione con I-KE; e schieramenti pianificati in Portogallo.
Questo traguardo dimostra il potenziale dell'energia ondosa come fonte di energia affidabile e non intermittente, particolarmente efficace nelle aree costiere dove le onde sono costanti, offrendo vantaggi rispetto ad altre fonti di energia rinnovabile intermittenti.
Eco Wave Power (NASDAQ: WAVE) anunció que su proyecto de energía de olas EWP-EDF One en el Puerto de Jaffa, Israel, logró operación continua durante la última semana de diciembre de 2024. El sistema demostró una producción máxima de 26KW con una altura media de ola de 1.6 metros, operando de manera confiable incluso en condiciones tormentosas sin sufrir daños.
La empresa se está expandiendo globalmente con varios proyectos: una instalación de energía de olas en AltaSea en el Puerto de Los Ángeles (en colaboración con Shell MRE) que se espera comience operaciones para el primer trimestre de 2025, y que recientemente recibió una licencia federal del Cuerpo de Ingenieros del Ejército de EE.UU.; desarrollos en curso en Taiwán en colaboración con I-KE; y despliegues planeados en Portugal.
Este hito demuestra el potencial de la energía de olas como una fuente de energía confiable y no intermitente, particularmente efectiva en áreas costeras donde las olas son consistentes, ofreciendo ventajas sobre otras fuentes de energía renovable intermitentes.
에코 웨이브 파워 (NASDAQ: WAVE)는 이스라엘 야파 항구에서 EWP-EDF One 파도 에너지 프로젝트가 2024년 12월 마지막 주 동안 연속 운영을 달성했다고 발표했습니다. 이 시스템은 평균 파도 높이 1.6미터에서 최대 26KW의 생산량을 보여주었으며, 폭풍우 속에서도 손상 없이 안정적으로 운영되었습니다.
회사는 여러 프로젝트를 통해 전 세계적으로 확장 중입니다: 셸 MRE와 협력하여 로스앤젤레스 항구의 AltaSea에 설치될 파도 에너지 시설이 2025년 1분기에 운영을 시작할 예정이며, 최근 미국 육군 공병대의 연방 라이센스를 받았습니다; I-KE와 협력하여 대만에서 진행 중인 개발; 그리고 포르투갈에서 계획된 배치.
이 이정표는 파도 에너지가 신뢰할 수 있는 견고한 전력원으로서의 잠재력을 보여주며, 특히 파도가 일정한 해안 지역에서 효과적이고 다른 간헐적인 재생 가능 에너지원에 비해 이점을 제공합니다.
Eco Wave Power (NASDAQ: WAVE) a annoncé que son projet d'énergie des vagues EWP-EDF One au port de Jaffa, en Israël, a atteint un fonctionnement continu durant la dernière semaine de décembre 2024. Le système a démontré une production maximale de 26KW avec une hauteur moyenne des vagues de 1,6 mètre, fonctionnant de manière fiable même dans des conditions tempétueuses sans subir de dommages.
L'entreprise s'étend globalement avec plusieurs projets : une installation d'énergie des vagues à AltaSea dans le port de Los Angeles (en collaboration avec Shell MRE) qui devrait commencer ses opérations d'ici le premier trimestre de 2025, ayant récemment obtenu une licence fédérale du Corps des ingénieurs de l'armée américaine ; des développements en cours à Taïwan en collaboration avec I-KE ; et des déploiements prévus au Portugal.
Cette étape démontre le potentiel de l'énergie des vagues en tant que source d'énergie fiable et non intermittente, particulièrement efficace dans les zones côtières où les vagues sont constantes, offrant des avantages par rapport à d'autres sources d'énergie renouvelables intermittentes.
Eco Wave Power (NASDAQ: WAVE) gab bekannt, dass ihr Wellenenergieprojekt EWP-EDF One im Hafen von Jaffa, Israel, in der letzten Dezemberwoche 2024 den Dauerbetrieb erreicht hat. Das System zeigte eine Spitzenproduktion von 26KW bei einer durchschnittlichen Wellenhöhe von 1,6 Metern und betrieb zuverlässig, selbst unter stürmischen Bedingungen, ohne Schäden.
Das Unternehmen expandiert global mit mehreren Projekten: einer Wellenenergieanlage bei AltaSea im Hafen von Los Angeles (in Zusammenarbeit mit Shell MRE), die voraussichtlich im ersten Quartal 2025 in Betrieb genommen wird und kürzlich eine bundesstaatliche Lizenz vom US Army Corps of Engineers erhalten hat; laufende Entwicklungen in Taiwan in Zusammenarbeit mit I-KE; sowie geplante Einsätze in Portugal.
Dieser Meilenstein zeigt das Potenzial der Wellenenergie als zuverlässige, nicht intermittierende Energiequelle, die insbesondere in Küstengebieten, in denen die Wellen konstant sind, besonders effektiv ist und Vorteile gegenüber anderen intermittierenden erneuerbaren Energiequellen bietet.
- Successful 24/7 operation demonstration at Jaffa Port with 26KW peak production
- System proved resilient during stormy conditions without damage
- Federal license secured for Port of Los Angeles project
- Global expansion with projects in Taiwan and Portugal
- None.
Insights
The successful 24/7 operation of WAVE's EWP-EDF One project marks a critical technical validation for wave energy technology. The system's 26KW peak production with 1.6-meter waves and storm resilience demonstrates commercial viability for coastal power generation. Think of it as a 'proof of concept' moment - similar to early solar panel efficiency breakthroughs.
The continuous power generation capability addresses a key limitation of other renewables like solar and wind, which are intermittent. This reliable baseload potential could be particularly attractive for coastal industrial facilities and microgrids. The technology's storm survivability also reduces a major risk factor that has historically plagued wave energy projects.
However, the 50.8M market cap suggests investors remain cautious about scalability. The upcoming Port of Los Angeles project with Shell, plus expansions in Taiwan and Portugal, will be important tests for commercial scaling. The Shell partnership particularly adds credibility and could accelerate adoption if successful.
While the technical milestone is promising, WAVE faces significant execution challenges. The Q1 2025 Los Angeles launch timeline creates near-term binary risk - success could validate the technology for major ports globally, while delays or technical issues could severely impact investor confidence. The multi-country expansion strategy, while ambitious, stretches resources across multiple projects.
The federal licensing achievement for the LA project partially de-risks regulatory hurdles, but commercialization remains the key challenge. Wave energy historically has struggled with cost competitiveness versus other renewables. Early-stage cleantech companies often face a 'valley of death' between demonstration and commercial scale - WAVE will need to navigate this carefully.
Tel Aviv, Israel--(Newsfile Corp. - January 10, 2025) - Eco Wave Power Global AB (publ) (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a global leader in onshore wave energy technology, is proud to announce that its EWP-EDF One wave energy project at Jaffa Port, Israel, successfully operated around the clock during the last week of December 2024, with an average wave height of 1.6 meters and peak production of 26KW.
This milestone underscores the potential of wave energy as a reliable and sustainable source of renewable power. In addition, the project was subject to conditions classified as stormy and operated without damages, demonstrating the robustness and reliability of Eco Wave Power's innovative technology.
Jaffa Port Floaters in Action
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Eco Wave Power's pioneering technology proved its ability to deliver continuous, round-the-clock energy, marking a significant achievement for the industry. This breakthrough is a testament to the capability of wave energy to provide a dependable energy source in suitable locations.
Moreover, this milestone reinforces the significant role that wave energy can play in the future of renewable power generation. Wave energy offers a predictable, non-intermittent power source, which in many cases, can operate reliably around the clock, especially in coastal areas where waves are more consistent, offering a strong advantage over other intermittent energy sources.
Eco Wave Power's achievement at Jaffa Port highlights the Company's ongoing commitment to demonstrating the scalability and reliability of wave energy. The project has now successfully produced clean, renewable energy without interruption, even under challenging weather conditions.
In addition to the Jaffa Port project, Eco Wave Power is also making significant strides with its global expansion. The Company is preparing for the launch of its wave energy project at AltaSea in the Port of Los Angeles (in collaboration with Shell MRE), which recently secured a federal license from the U.S. Army Corps of Engineers. The Los Angeles project, expected to begin operations by the end of Q1 2025, follows the progress of Eco Wave Power's projects in Taiwan and Portugal. In Taiwan, the Company is advancing a key project in collaboration with I-KE, and in Portugal, Eco Wave Power is progressing with its plans to deploy its proprietary wave energy technology in one of Europe's most dynamic marine environments.
"We are extremely proud of the performance of our EWP-EDF One project at Jaffa Port, which demonstrated its ability to produce energy 24/7 even during stormy conditions," said Inna Braverman, CEO and Founder of Eco Wave Power. "This is a testament to the durability and reliability of our technology. We look forward to continuing our momentum with our projects in Taiwan, Portugal, and the Port of Los Angeles, as we work to accelerate the global transition to clean, renewable energy."
Eco Wave Power's innovative wave energy systems are designed to be efficient and scalable, offering a sustainable alternative to traditional energy generation methods. With ongoing projects across the globe, Eco Wave Power is continuing to expand its operations and prove that ocean waves can play a critical role in powering a sustainable future.
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 honoured 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.
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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 benefits and advantages of the Company's technology, the potential of wave energy as a reliable and sustainable source of renewable power, benefits and advantages of wave energy, Company's global expansion, Company's preparation for the launch of its wave energy project at AltaSea in the Port of Los Angeles and advancement of the projects in Taiwan and Portugal and Company's work to accelerate the global transition to clean, renewable energy. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236645
FAQ
What peak power output did WAVE's Jaffa Port wave energy system achieve in December 2024?
When will WAVE's Port of Los Angeles wave energy project begin operations?
What regulatory approval did WAVE receive for its Los Angeles project?
Which international markets is WAVE currently expanding into?
How did WAVE's system perform during stormy conditions at Jaffa Port?
