Eco Wave Power Solidifies its’ Projects Pipe-Line Prior to Its’ 18th
Eco Wave Power Solidifies its’ Projects Pipe-Line Prior to Its’ 18th of July IPO on Nasdaq First North
Since Eco Wave Power announced its’ upcoming public listing on the 18th of July on Nasdaq First North, the company has been in high demand among different European ports, municipalities and electric utilities, which are interested to promote the implementation of Eco Wave Power’s innovative wave energy technology, as part of their renewable energy mix.
During the month of June, Eco Wave Power has entered initial agreements regarding potential projects with the Port of Rotterdam (largest port in Europe), and also with Impuls Zeeland, regarding the development of a wave energy project in the province of Zeeland in the Netherlands.
The company also entered an initial agreement with Vopak, a publicly traded Dutch company (Market cap of 5.177 billion Euro) which stores and handles various oil, chemicals, edible oils and natural gas-related products. According to the agreement reached between the parties, Vopak will promote the implementation of the EWP technology in ports, jetties and breakwater under its’ supervision (including locations in Singapore, China & Panama)
EWP also entered an initial intention agreement with Vandebron, which is a a green energy company based in Amsterdam, that delivers green electricity and regular gas to individual and business customers. The company does not produce any energy itself, but instead sells energy generated by independent energy producers. Vandebron expressed its’ interest in entering a PPA (power Purchase Agreement) with Eco Wave Power in the scale of 20MW.
In addition, Eco Wave Power signed a Letter of Intent with Mr. Sergio Prete (the President of the Port Authority of Taranto) regarding the implementation of the first wave energy project in Italy in the Port of Taranto & representatives from Eco Wave Power will arrive to the port again in July for in-depth discussion on the best path foreword.
Moreover, last week, Eco Wave Power participated in the Bluetech Accelerator held in Portugal, which is organized by the Portuguese Ministry of the Sea, alongside FLAD (Luso-American Development Foundation). The program organizers have invited companies with bold & disruptive innovation to bring it to the Ports and Shipping industry, to be developed and piloted alongside world-class partners.
After a week of intensive meetings, the participants of the accelerator were very impressed with the EWP technology and invited the company to commence pilot projects in the Port of Sines (the first and largest artificial port of Portugal) and the Port of Leixoes (One of Portugal’s major sea ports, located in Matosinhos municipality, near the city of Porto).
This recent news are in continuity to the positive progress and development that Eco Wave Power has been showing since the beginning of 2019, including receiving a grant from Horizon 2020 program of the European Union for its’ Gibraltar project, which is the ONLY grid connected wave energy array in the world, running in accordance with a PPA.
In addition, Eco Wave Power has secured a grant from the Israeli Energy Ministry for the expansion and grid connection of its’ project in Jaffa Port, which will be Eco Wave Power’s second grid connected project in the world. Eco Wave Power is executing the Jaffa Port expansion through a Joint Venture agreement signed with EDF EN IL, which is a fully owned subsidiary of EDF Energies Nouvelles SA, a publicly traded French electric utility company, largely owned by the French state, Headquartered in Paris, with €68.98 billion in revenues in 2018, EDF operates a diverse portfolio of 120+ gigawatts of generation capacity in Europe, South America, North America, Asia, the Middle East and Africa.
To meet the growing worldwide demand for the Eco Wave Power technology, the company needs to scale its operations via additional human and financial resources, to be secured through the public listing on the 18th of July.
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