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Eco Wave Power Wins the Prestigious EDF Pulse Award For Developing a Profitable, Decentralized Wave Energy Technology
Eco Wave Power was awarded during a ceremony conducted by Luc Rémont, Chairman & Chief Executive Officer of EDF, in EDF's Pavilion, constructed in partnership with the Paris 2024 Olympic Games.
The Jurors evaluating Eco Wave Power and making the final decision are:
"In light of EDF's partnership with the Paris 2024 Olympic Games, we note that the world of sports and innovation join together in terms of surpassing oneself, passion, discipline, and the quest for performance and excellence. As a result, there is no doubt that innovation is a high-level sport!" said Julien Villeret , Chief Innovation Officer of EDF.
"The gold medal of the EDF Pulse Awards 2024 is awarded to Eco Wave Power in the category of developing a profitable, decentralized wave energy system, attached to existing infrastructure in ports. Other winners are Orus Energy in the category of making the costumer an actor in their decarbonization and Aerleum in the category of developing carbon capture, recovery and offsetting solutions" added Julien Villeret
"We are honored to win the prestigious EDF Pulse Award, by Électricité de France (EDF), which is a multinational electric utility company, and the largest renewable energy producer in Europe " said Eco Wave Power's Founder and Chief Executive Officer Inna Braverman . "I would like to dedicate this Award toEDF Renewables Israel, and thank them for the productive collaboration in the implementation of the first grid connected wave energy project in the history of Israel . We hope and aim to implement many more projects with the EDF Group. Thank you for your support!"
This significant recognition comes in parallel with the productive collaboration between Eco Wave Power and EDF Renewables IL (a subsidiary of Électricité de France ), which jointly own and operate a wave energy pilot project in Israel , the EWP-EDF One Project.
This project was co-funded by EDF Renewables IL (which owns 50% of the project), and by the Israeli Ministry of Energy, which recognized the Eco Wave Power technology as a pioneering technology.
In 2023, the power station was officially connected to the Israeli national electrical grid, marking the first time in the history of Israel that electricity produced by the power of the waves is being sent to the country's national grid.
In November 2024 , Eco Wave Power and EDF plan to hold a ceremonial "plugging in" event to commemorate this historic achievement.
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 Israel , with co-investment from EDF Renewables IL and the Israeli Energy Ministry, which recognized Eco Wave Power's technology as "Pioneering Technology." The Israeli wave energy project marks the first grid-connected wave energy system in Israel's history.
Eco Wave Power will soon commence the installation of its third and fourth wave energy projects, in the Port of Los Angeles , and in Portugal . The Company also holds a total projects pipeline of 404.7MW.
Eco Wave Power received funding from the European Union Regional Development Fund, Innovate UK and the European Commission's Horizon 2020 framework program and was honored with the "Global Climate Action Award" from the United Nations.
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.
Information on, or accessible through, the websites mentioned above does not form part of this press release.
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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. 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.
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