Eco Wave Power Named Finalist in the EDF Pulse Awards

EDF’s Annual Competition Highlights Companies Offering Effective Innovations to Reach Carbon Neutrality Faster

 Eco Wave Power Global AB (publ) (Nasdaq Capital Market: WAVE), a leading, publicly-traded onshore wave energy developer, is pleased to announce that it has been selected as a finalist for the 2024 EDF Pulse Awards 10th edition, competing in the category of developing a profitable decentralized energy system.

Eco Wave Power developed an innovative, patented, cost-efficient technology for generation of clean electricity from ocean and sea waves, and was chosen as one of 13 finalists (out of 144 entrants) for this year’s award, for its innovation in meeting the growing need for energy self-sufficiency at various scales.

Finalists for the EDF Pulse awards will present to the EDF Executive Committee July 17, 2024, with winners announced July 18, 2024. Since 2014, the EDF Pulse awards judges have reviewed more than 2,450 applicants and offered direct support to more than 96 startups, with 35 winners overall. Pulse award winners will be awarded tailor-made support in further research, proof of concept, professional development and other forms of aid.

Competition organizer EDF (Électricité de France) is a multinational electric utility company, a global integrated energy company and the largest renewable energy producer in Europe. The EDF Pulse awards represent its drive to field further innovations in the energy industry with the goal of creating a carbon neutral future.

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).

The EWP-EDF One Project was co-funded by EDF Renewable IL (who owns 50% of the project), and by the Israeli Ministry of Energy, which recognized the Eco Wave Power technology as a pioneering technology. The project has 100KW installed capacity and consists of 10 floaters.

In August 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 national electrical grid of the country.

Since then, the EWP-EDF One project has proceeded to full system calibration, to be followed by a ceremonial “plugging in” event to be held in November 2024 to commemorate this historic achievement.

“We are proud to see our vision of sustainable wave energy becoming a reality,” said Eco Wave Power Founder and Chief Executive Officer Inna Braverman. “I am grateful to the EDF Renewables IL team, the Israeli Energy Ministry, the Atarim Group (which manages and develops the Tel-Aviv Jaffa coastline), and my entire team at Eco Wave Power who worked tirelessly to take this project from an idea to a new source of clean energy.”

“We believe this is just the start for wave energy and we are excited for this station to serve as a catalyst for many more projects across the globe. We are also very proud to be chosen by EDF as one of the finalists for the 2024 Pulse Award. Being considered for an award like this represents an incredible breakthrough and recognition that Eco Wave Power is achieving in the wave energy sector,” Braverman continued.

Credit:Eco Wave Power