Eco Wave Power Signs a Wave Energy Power Station Sale Agreement with Taiwanese Lian Tat for its First Onshore Wave Energy Project in Asia
Eco Wave Power Global AB (Nasdaq: WAVE) has signed an agreement with I-Ke International Ocean Energy Co., a subsidiary of Lian Tat Company, to sell its first wave energy generation unit in Taiwan. The project will start with a 100KW pilot, potentially expanding to 20MW and ultimately targeting 400MW of commercial capacity on the Taiwanese coastline.
Key points:
- I-Ke will fully finance the pilot project by purchasing a turnkey conversion unit from Eco Wave Power.
- The location for the pilot has been identified on Taiwan's east coast, with 83 additional suitable sites.
- I-Ke will handle permits, land use consents, and local production of components.
- The project aims to position Taiwan as a hub for expansion into other Asia Pacific regions.
- This marks Eco Wave Power's first official step into the Asian market.
Eco Wave Power Global AB (Nasdaq: WAVE) ha firmato un accordo con I-Ke International Ocean Energy Co., una filiale della Lian Tat Company, per vendere la sua prima unità di generazione di energia da onde a Taiwan. Il progetto inizierà con un pilot da 100KW, con la possibilità di espandere fino a 20MW e mirare infine a una capacità commerciale di 400MW lungo la costa taiwanese.
Punti chiave:
- I-Ke finanzierà completamente il progetto pilota acquistando un'unità convertitrice chiavi in mano da Eco Wave Power.
- La posizione per il pilota è stata identificata sulla costa est di Taiwan, con 83 siti aggiuntivi idonei.
- I-Ke si occuperà dei permessi, delle autorizzazioni all'uso del terreno e della produzione locale dei componenti.
- Il progetto mira a posizionare Taiwan come un hub per l'espansione in altre regioni dell'Asia-Pacifico.
- Questo segna il primo passo ufficiale di Eco Wave Power nel mercato asiatico.
Eco Wave Power Global AB (Nasdaq: WAVE) ha firmado un acuerdo con I-Ke International Ocean Energy Co., una subsidiaria de Lian Tat Company, para vender su primera unidad de generación de energía de olas en Taiwán. El proyecto comenzará con un piloto de 100KW, con la posibilidad de expandirse a 20MW y, finalmente, tener como objetivo una capacidad comercial de 400MW en la costa taiwanesa.
Puntos clave:
- I-Ke financiará completamente el proyecto piloto comprando una unidad de conversión llave en mano de Eco Wave Power.
- La ubicación para el piloto ha sido identificada en la costa este de Taiwán, con 83 sitios adicionales adecuados.
- I-Ke se encargará de los permisos, del consentimiento para el uso del suelo y de la producción local de componentes.
- El proyecto tiene como objetivo posicionar a Taiwán como un centro para la expansión en otras regiones de Asia-Pacífico.
- Esto marca el primer paso oficial de Eco Wave Power en el mercado asiático.
Eco Wave Power Global AB (Nasdaq: WAVE)는 Lian Tat Company의 자회사인 I-Ke International Ocean Energy Co.와 대만에서 첫 번째 파력 발전 유닛을 판매하기 위한 계약을 체결했습니다. 이 프로젝트는 100KW 파일럿으로 시작되며, 잠재적으로 20MW로 확장되고 결국 대만 연안에서 400MW의 상업적 용량을 목표로 합니다.
주요 사항:
- I-Ke는 Eco Wave Power에서 턴키 변환 유닛을 구매하여 파일럿 프로젝트를 전액 자금 지원합니다.
- 파일럿 위치는 대만 동부 해안에 확인되었으며, 추가로 83개의 적합한 부지가 있습니다.
- I-Ke는 허가, 토지 사용 동의 및 부품의 현지 생산을 처리할 것입니다.
- 이 프로젝트는 대만을 아시아 태평양 지역으로의 확장을 위한 허브로 위치시키는 것을 목표로 합니다.
- 이는 Eco Wave Power의 아시아 시장 진입에 대한 첫 번째 공식적인 단계입니다.
Eco Wave Power Global AB (Nasdaq: WAVE) a signé un accord avec I-Ke International Ocean Energy Co., une filiale de la Lian Tat Company, pour vendre sa première unité de production d'énergie marine à Taiwan. Le projet débutera par un projet pilote de 100KW, avec une possible extension à 20MW, visant au final une capacité commerciale de 400MW sur la côte taiwanaise.
Points clés :
- I-Ke financera entièrement le projet pilote en achetant une unité de conversion clé en main à Eco Wave Power.
- Le site du pilote a été identifié sur la côte est de Taiwan, avec 83 sites supplémentaires jugés appropriés.
- I-Ke s'occupera des permis, des autorisations d'usage des terres et de la production locale des composants.
- Le projet vise à positionner Taiwan comme un centre d'expansion vers d'autres régions de la zone Asie-Pacifique.
- Cela marque le premier pas officiel d'Eco Wave Power sur le marché asiatique.
Eco Wave Power Global AB (Nasdaq: WAVE) hat einen Vertrag mit I-Ke International Ocean Energy Co., einer Tochtergesellschaft der Lian Tat Company, unterzeichnet, um seine erste Wellenenergieerzeugungseinheit in Taiwan zu verkaufen. Das Projekt begann mit einem 100KW-Pilotprojekt, das potenziell auf 20MW erweitert werden könnte, mit dem endgültigen Ziel von 400MW kommerzieller Kapazität an der taiwanesischen Küste.
Wichtige Punkte:
- I-Ke wird das Pilotprojekt vollständig finanzieren, indem es eine schlüsselfertige Umwandlungseinheit von Eco Wave Power kauft.
- Der Standort für das Pilotprojekt wurde an der Ostküste Taiwans ausgewählt, wobei 83 weitere geeignete Standorte zur Verfügung stehen.
- I-Ke wird sich um Genehmigungen, Landnutzungszustimmungen und die lokale Produktion von Komponenten kümmern.
- Das Projekt zielt darauf ab, Taiwan als Zentrum für die Expansion in andere Regionen des asiatisch-pazifischen Raums zu positionieren.
- Dies ist der erste offizielle Schritt von Eco Wave Power auf dem asiatischen Markt.
- Expansion into the Asian market with the first onshore wave energy project in Taiwan
- Potential for significant growth from 100KW pilot to 400MW commercial capacity
- Full project financing provided by I-Ke, reducing financial risk for Eco Wave Power
- Identification of 83 additional suitable sites for future expansion in Taiwan
- Local production of components, potentially reducing costs and creating jobs
- Project success depends on positive results from the initial 100KW pilot
- Expansion plans are ambitious and may face regulatory or technical challenges
The Project is Expected to Commence with a Landmark 100KW Pilot Project, and Gradually Expand to 20MW, Followed by an Ambitious Target of 400MW of Commercial Capacity on the Taiwanese Coastline.
According to the terms of the agreement, I-Ke will be providing the full financing for the 100KW pilot project, by buying a turnkey conversion unit from Eco Wave Power. This conversion unit for the 100KW wave energy power station includes all the hydraulic and electric conversion parts, coupled with the smart control and automation system.
I-Ke has identified the location for the first pilot station of 100KW installed capacity on the east coast of
This newly signed agreement, which is based on a memorandum of understanding (MOU) that was signed between Lian Tat and Eco Wave Power in June 2023, will leverage Eco Wave Power's wave energy conversion technology, which has been deployed in several locations worldwide (such as
According to a press statement made by I-Ke, the first stage of the project will be the development of a 20 MW wave energy power station in
To announce Eco Wave Power's first official step into the Asian market, representatives from Eco Wave Power, Lian Tat and I-Ke held a joint press conference in
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Mr. Huang added that the government's renewable energy policy and installation capacity are getting more ambitious year by year, which is evident by the setting of a marine energy wholesale purchase rate of
Inna Braverman, Founder and CEO of Eco Wave Power stated: "I would like to thank CY and his companies--Lian Tat and I-Ke for the warm hospitality. I am certain that Eco Wave Power's official visit in
"I believe that this new collaboration will not only be a win-win collaboration for both parties but will also serve as a pioneering step towards the implementation and adaptation of wave energy all over
Mr. CY Huang, a respected leader in the maritime space, has long advocated for and helped to bring clean energy to
About Lian Tat Company
Lian Tat Company ("LTC") was established in March 12, 1959. Since its inception, it has been acting as a resource integrator by sourcing machinery tools and turnkey equipment from
Since 1980, LTC expanded its business scope to source diesel engines for marine and power plant applications by associating with leading brands such as MAN, MTU, and Alstom. Its customers include the Taiwanese Navy, Customs, and Coast Guard, the Taiwan Power Company, shipping companies, such as Evergreen, and ferry owners and operators.
Establishing a full-fledged marine engine service workshop in 1994, LTC set a new milestone in its history. With establishment of the workshop, and a strong service team providing timely on-site and workshop service, LTC has created unparalleled sales and service records for the fleets of Taiwanese Navy and Coast Guard.
More recently, LTC has undergone a transformation and ventured into new industries, such as renewable energy and offshore wind power maritime engineering. Its objective is to synergize with the domestic maritime industry by integrating talent and resources, while also forging collaborative partnerships.
About I-Ke International Ocean Energy
I-Ke International Ocean Energy is a wholly owned subsidiary of Lian Tat Company. It benefits from the maritime expertise of its parent company and aims to introduce commercial wave power generation equipment domestically. Its mission is to promote clean and pollution-free green energy in
Chairman CY Huang of Lian Tat Company established I-Ke International Ocean Energy in 2023, and it specializes in the development, execution, construction, and operation of wave power projects in
About Eco Wave Power Global AB (publ)
Eco Wave Power is a leading onshore wave energy 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 owns and operates a grid connected wave energy project in
Eco Wave Power will soon commence the installation of its third and fourth wave energy projects, in the Port of
Eco Wave Power received funding from the European Union Regional Development Fund, Innovate
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
For more information, please contact the Company at:
info@ecowavepower.com
+97235094017
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the
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FAQ
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