Grid connection route works finalised

The grid connection works were performed in two parts, as they included different routes within the port.

The first part was performed by the infrastructure subcontractor Yehimovitz Suissa Ltd , in the shipyard area of the Port of Jaffa, and was completed during 2021, while today Eco Wave Power is pleased to announce the finalisation ofthe second part of the grid connection route, which spans across the warehouse area of the port, and was performed by the Israeli subcontractor Ken Hator Construction and Engineering (“Ken Hator”).

Ken Hator has the highest classification and standards in Israel’s construction industry and is an official contractor for the Ministry of Defence of the government of Israel, approved for governmental projects and operates in compliance with ISO 9001 standard.

The works consisted of removing the upper layer of asphalt in the dedicated grid connection route and preparing the tunnels necessary for the electric cables. The next step is for the Israel Electric Corporation to officially arrive to the site and connect the conversion unit to the electrical grid.

The Eco Wave Power electric route spans approximately 170 meters of underground tunnels.  

Inna Braverman, Chief Operating Officer of Eco Wave Power, stated: “Due to the onshore nature of Eco Wave Power’s technology, the grid connection works were straightforward and did not involve any cable laying on the seabed, which are known to be extremely expensive and complex. In addition, the cable length is significantly shorter and more cost-efficient than cables used for offshore energy projects.We believe that this highlights the significant advantages of Eco Wave Power’s onshore technology, in comparison with offshore wave energy solutions.”

The EWP-EDF one project is executed in collaboration with EDF Renewables IL and co-funding from the Israeli Ministry of Energy.

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.

Eco Wave Power is recognised as a “Pioneering Technology” by the Israeli Ministry of Energy and was labelled as an “Efficient Solution” by the Solar Impulse Foundation. Eco Wave Power’s project in Gibraltar has received funding from the European Union Regional Development Fund 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 common shares (ECOWVE) are traded on Nasdaq First North and its ADSs (WAVE) are traded on the Nasdaq Capital Market.