Sources of energy that replenish without appropriating Earth’s natural resources. To further raise awareness of the benefits of the Eco Wave Power solution, during this quarter we were pleased to have had our technology chosen to take part in the final list of the Solar Impulse Foundation of the 1000+ profitable solutions to the environmental crisis. The Company also received the People’s Choice Award at the BlueInvest Awards 2021, by the European Commission, in the “Energy from the Ocean” category for innovative solutions and technologies in the field of ocean renewables. In addition, Eco Wave Power won the Smart Port Challenge Competition held by Morocco’s National Ports Agency and the National Single Window for Foreign Trade PORTNET, together with the Global Alliance for Trade Facilitation and Morocco’s port community. The award granted to Eco Wave Power is 100,000 MAD, as well as an opportunity for Morocco to become an Eco Wave Power testing and implementation hub. Eco Wave Power recognizes the importance of the protection of its intellectual property, and therefore consults top experts in the field and invests significant resources in the maintenance of its global intellectual property portfolio. EWP holds 13 Israeli Patents and Patents Pending as well as an International PCT.
We also continue to develop our technology to create an even more efficient solution, with better performance and higher profitability. Constant improvement is something that Eco Wave Power is constantly striving for. Part of our vision in achieving this is commencing the EWP-EDF One project, in collaboration with EDF Renewables IL and the Israeli Energy Ministry, which will introduce a variety of upgrades and innovative features to the Eco Wave Power technology. During this time our company has also received significant media coverage by well-known media outlets such as Sky News, Bloomberg NEF, and the Sustainable Markets Initiative of Prince Charles, in collaboration with the Bank of America and the World Economic Forum.
Eco Wave Power has partnered with Siemens for the project, which will provide the electrical and grid connection technology while also upgrading Eco Wave Power’s components for improved system efficiency. Israeli defence electronics specialist Elbit Systems reported higher quarterly profit on Tuesday and said it expects its night-vision business and other acquired operations to prosper as global defence spending continues to rise. Army contract for enhanced night-vision systems that use thermal imaging and augmented reality, with the deal worth up to $442 million.
These floats rise and fall with the waves, and are connected to the support structure by hydraulic arms. Only the floats and pistons are set in the water, the power station that converts the wave energy into fluid pressure that drives a generator to create electricity is land-based. Wave energy is a vast and untapped renewable energy source that can supply twice the amount of electricity the world can produce now, according to the World Energy Council. “We believe that China is being very innovative by replacing some of its coal and other polluting methods with renewables such as solar, wind and now wave energy,” Eco Wave founder and CEO David Leb and cofounder Inna Braverman said in a joint statement. In parallel, the company is in an advanced production process of the first set of floaters. Upon production completion, the company will gradually commence installation of floaters, supporting structures and hydraulic pipes onto the new cement layers.
EWPG Holding AB (“bookkeeping“) 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 sea and ocean waves. Eco Wave Power’s mission is to assist in the fight against climate change by enabling commercial power production from ocean and sea waves.
- To meet the demand, we continue to expand our team, by picking the most passionate and experienced individuals, to assist us in meeting future deliveries.
- The implementation of wave energy and its commercialisation as an additional renewable energy source will have a critical impact on the world’s emissions by significantly reducing the pollution caused by the energy sector.
- Upon production completion, Eco Wave Power will gradually commence installation of floaters, supporting structures and hydraulic pipes onto the new cement layers.
- 1.3 billion people lack access to electricity, while almost half of the world’s population lives within 100KM of a coast.
The company has also received the “Climate Action Award” from the United Nations. Eco Wave Power was recognized as a “pioneering technology” by the Chief Scientist of the Energy Ministry of Israel and received an “Efficient Solution” label from the Solar Impulse Foundation. To that end, Portugal ultimately hopes to supply 25% of its annual power consumption from wave power. “There is a potential to install three to four gigawatts of wave power capacity in Portugal alone,” Braverman points out.
Israel Is Winning Battles, Hamas Is Winning The War
An automated control system is able to supervise the rise and submersion process of the floaters in case of stormy conditions. Renewables Now is an independent one-stop shop for business news and market intelligence for the global renewable energy industry. Back in 2012, Sweden’s Eco Wave Power started testing a wave energy harvesting system that could be installed on existing structures like breakwaters and piers. The company switched on its first grid-connected project four years later, and has now announced the second – which will convert the rise and fall of waves at Jaffa Port in Israel into electricity. Eco Wave Power is excited to collaborate with the Solar Impulse Foundation, The Sustainable Markets Initiative, and other ventures, to create stronger awareness and promote the commercial implementation of wave energy, as part of the solution against climate change. Finally, in May Eco Wave Power entered a new MOU with the Port of Pecem in Brazil for the joint exploration and pre-feasibility studies for a potential wave energy project of up to 9MW in the port.
Rather, as the floaters bob up and down according to the height of the waves, pressure is created in hydraulic pistons, which push a biodegradable liquid through a pipe to an “accumulator” located shoreside. recording transactions is now negotiating deals for a 4.1-megawatt installation in Mexico and a four-location 20-megawatt mega-project in Portugal. The latter has already progressed towards a concession agreement with APDL, the company that manages the port in Leixos, northern Portugal.
Elbit Systems of America in 2019 bought the night-vision business of L3Harris Technologies for $350 million and has also won German and Dutch military deals. Emerging markets are those countries that have growing economies and a growing middle class. Some of these countries were once poor, and some still have high rates of poverty. Eco Wave Power’s technology was named a “pioneering technology” by Israel’s Ministry of Energy and an “efficient solution” by the Solar Impulse Foundation. Its project in Gibraltar has received funding from the European Union Regional Development Fund and from the European Commission’s Horizon 2020 framework program. EWP is recognized 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 from the European Commission’sHorizon 2020 framework program.
Due to the onshore nature of the Eco Wave Power technology, the works on the sea wall and floaters installation will be straightforward and will not involve any works performed from the seaside. The EWP-EDF One conversion unit will be located on land, just like a regular power station, enabling an easy access for operation and maintenance. This highlights the significant advantages of the EWP onshore technology, in comparison with offshore solutions. Eco Wave Power is the developer of a patented onshore technology that turns ocean and sea waves into electricity through the use of floaters and a conversion unit.
Location Of The Jaffa Port Wave Energy Power Station
A second working installation, in Jaffa, is used by the company for R&D and to demonstrate the system to investors and potential partners. The Jaffa Port project has been co-funded by the Israeli Energy Ministry and will involve the construction and installation of floats along a 30 meter stretch of a pre-existing breakwater within the port. Each float has a surface area of 8.54 square meters , and the expected capacity of the station will be 100 kW. Singapore’s competition authority has approved the London Stock Exchange Group’s $27 billion acquisition of data and analytics company Refinitiv provided the bourse continues to offer certain foreign exchange benchmarks to rivals. The Competition and Consumer Commission of Singapore gave the conditional approval after examining whether the deal, which transforms the 300 year old bourse into a one-stop shop for data, trading and analytics, threatened competition in the currency market. Meanwhile, construction is about to start on a power plant in Gibraltar, following the signing of a power-purchase agreement with the territory’s government last June.
Regarding China, however, Eco Wave’s leaders stressed that the country is particularly suitable to harnessing wave energy due to its 18,000 kilometers worth of coastline and approximately 6,500 islands. According to information on its website, the company’s current global pipeline exceeds 190 MW, including projects in Israel, where it was founded ten years ago, and Gibraltar. The latter destination is where Eco Wave Power inked a 5-MW PPA with the local government and the Gibraltar Electricity Authority in 2014. It officially launched a 100-kW wave power system under that contract in June 2016.
To meet the demand, we continue to expand our team, by picking the most passionate and experienced individuals, to assist us in meeting future deliveries. This expansion will extend our ability to support our customers with shortened project timelines.
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“In many countries, the only policies they have in place relate to solar or wind and are from 20 to 30 years ago,” Braverman says. While Eco Wave Power’s technology is key, the biggest obstacles the company runs into are not mechanical but bureaucratic.
All works are performed by a local subcontractor, during days of calm sea, to enable safe work on the sea wall. The reinforcement works have been planned and are being supervised by Alex Gleizer, a civil engineer with 25 years of experience executing projects for the Israeli Railway Company, the Israeli Air Force, and the Israeli Electric Company, and with presence from a dedicated safety engineer.
The new HarmonyOS will only go some way to mitigating the impact of the 2019 sanctions that also barred Huawei from accessing critical U.S.-origin technology, impeding its ability to design its own chips and source components from outside vendors. Even though we are pleased of what we have accomplished during the first quarter, we must admit that we were not able to progress as quickly as we would have liked, and our goal moving forward will be working harder to make up for this as the conditions normalize. In March, the Company announced that it had confidentially submitted a draft registration statement on Form F-1 with the SEC in the US, relating to the proposed public listing of its common shares. The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions. The U.S. Department of Energy’s Marine and Hydrokinetic Technology Database provides information on marine and hydrokinetic renewable energy, in the United States and around the world.
Heavyweight oil stocks also performed well as oil prices extended Friday’s rally and climbed higher after Iran said that gaps remain in negotiations aimed at reaching a deal to end US sanctions on its crude. Iran said there are still differences around the timing of when countries will return to compliance with the original 2015 nuclear agreement, allaying some concern about a rapid ramp-up in the Persian Gulf nation’s output. While the market is anticipating the Islamic Republic’s supply will pick up again by late summer, the demand recovery will be strong enough to absorb it, according to Goldman Sachs. Dominating the bottom of the rankings and dragging on the index, Eco Wave Power however, were miners including Fresnillo, Antofagasta, BHP and Evraz. Elsewhere among companies, shares of FTSE 250 software firm Kainos fell 25p to £13.87 despite saying its annual pre-tax profit more than doubled in an eleventh consecutive year of growth, surging 124pc to £57.1m in the year through March. The implementation of wave energy and its commercialisation as an additional renewable energy source will have a critical impact on the world’s emissions by significantly reducing the pollution caused by the energy sector. EWPG Holding AB is a Swedish company that through its subsidiaries has developed a technology for extracting green energy from ocean waves.
Reserves, production, prices, employment and productivity, distribution, stocks, imports and exports. Eco Wave currently has a pipeline of a about 99 MW worth of projects, including the 50 MW in China, the company said.
Author: David Ringstrom