On Tuesday, Eco Wave Power Global AB (NASDAQ:WAVE) announced that Eco Wave Power and EDF Renewables IL, in collaboration with the Tel Aviv-Yafo Municipality and the municipal company Atarim, will inaugurate Israel's first pilot station for generating electricity from sea waves on Thursday, December 5, at Warehouse 2 in Jaffa Port. This global project combines innovation, sustainability, and the fight against climate change.
The launch marks a significant step toward reducing greenhouse gas emissions and advancing sustainable energy, reinforcing Tel Aviv-Yafo's status as a global innovation leader.
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The event will include a formal inauguration by Tel Aviv-Yafo Mayor Ron Huldai and a reception at Warehouse 2 in Jaffa Port with senior energy officials, investors, and strategic partners.
The Eco Wave Power project was built in collaboration with EDF Renewables Israel, supported by the Chief Scientist of the Ministry of Energy (which recognized the company's technology as "Pioneering Technology") and Tel Aviv-Yafo Municipality.
Eco Wave Power founder and CEO Inna Braverman said the project at Jaffa Port represents a historic milestone in the global renewable energy journey, proving that sea waves can be a viable, clean, and consistent source of electricity.
EDF Renewables Israel CEO Ayalon Vaniche said the partnership with Eco Wave led to the formation of a pilot that harnesses wave energy to produce clean electricity. EDF Group expressed its strong interest in assessing the potential of this new technology as part of its broad interest in marine energies.
The project is located within Atarim's Blue Economy Innovation Hub at the Jaffa Port, alongside other cutting-edge marine innovation technologies.
Eco Wave Power founder and CEO Inna Braverman leads the company and the project. Braverman is a graduate of the "Women for Climate" program by the international C40 Cities organization, which Tel Aviv-Yafo is a member of.
The Women for Climate program empowers women to lead environmental and sustainability projects addressing urban climate challenges.
Price Action: WAVE stock closed higher by 14.7% at $11.57 on Monday.
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