Eco Wave Power Ltd.
EWPG Holding AB (publ) (“Eco Wave Power” or the ”Company“) is a Swedish company, founded in Tel Aviv, Israel, in 2011, that has developed a patented, smart and cost-efficient technology for turning ocean and sea waves into green electricity. Eco Wave Power owns and operates a wave energy array, which is connected to the grid in accordance with a Power Purchase Agreement (PPA).
Company details
Find locations served, office locations
- Business Type:
- Technology
- Industry Type:
- Renewable Energy
- Market Focus:
- Internationally (various countries)
About Us
-
Easy to build and operate, due to its’ accessible location on land. In addition, low costs of maintenance and connection to the grid, due to proximity to grid connection points.
-
Fully modular and scalable.
-
Cost-efficient – construction and production costs per KWh are highly competitive, and the forecasted levelized cost for energy (LCOE) for commercial scale installation will be around EUR 42 per MWh (SEK 0.45/KWh). The Company has several patents in place and additional applications pending, putting strong focus on IP development and protection.
-
Fully insurable – current damage protection coverage provided by global reputable insurance companies.
-
No adverse environmental impact – due to the connection of the system to mostly existent man-made structures. Already existing structures (e.g. pier, jetties and breakwaters) are becoming a source of clean electricity.
Why Wave Energy?
At Eco Wave Power, we are inspired by technologies that will revolutionize energy production. We do not simply attempt to push the boundaries of technology—instead we seek to harness technological improvements to expand the traditional boundaries of the energy market.
Inventions such as solar and wind are often spoken of. By simply changing energy production to become more renewable focused, they led a complete transformation of many important parts of society; giving more people access to electricity, encouraging progress, and changing the way society was organized. These new technologies have brought us together and reduced the negative carbon footprint.
Today, our society has reached another tipping point due to three main reasons:
- The World Health Organization (WHO) now characterizes air pollution as “the world’s largest single environmental health risk.” According to WHO, 91 per cent of the world’s population live in places where air quality subceeds WHO guideline limits[1]. Air pollution accounts for 1 in 8 deaths worldwide – approximately 7 million deaths in 2012, New data from WHO shows air pollution accounts for one of eight deaths worldwide, which corresponded to approximately 7 million deaths in 2012. It was double the amount of deaths caused by air pollution in 2008[2].
- 840 million people currently lack access to electricity[3].
- Nearly 2.4 billion people, about 40% of the global population, live within 100 kilometers of a coast.[4].
Eco Wave Power aspires to build wave energy power stations which shall give people access to electricity in proximity to their residence without creating air pollution.
There is significant need, which means there is a large opportunity to connect everyone in the world to the grid and to give everyone access to clean electricity to help transform society for the better. This is underlined by the international recognition that Eco Wave Power has received for its technological and environmental advantages. The project pipeline is building up quickly and is currently approx. 325.7MW, with relatively high power prices achieved due to our unique position.
Even if our mission sounds big, it starts in smaller scale and will later develop and grow to a global magnitude.
Our vision is installing hundreds of thousands of wave energy power stations all over the world, leaving a positive mark and impact on the world, while profiting our shareholders and creating work opportunities. Clean electricity is a fundamental need in today’s society.
By helping people solve the above-mentioned problems, we hope to transform the way people access and consume electricity. We think the world’s electricity infrastructure should move from its’ traditional path that has existed to date. Our goal is to help accelerate this transformation and wave energy will be a huge part of such transformation.
Business Model
EWP is currently in collaboration processes and is seeking collaborations with conventional and green energy companies, electric utilities, energy ministries, marinas and ports, project developers, institutes, manufacturers, engineering companies, private and public funds, and investors.
Global organizations that are interested in researching, harnessing or investing in wave energy with the purpose of meeting the rising global demand for clean, renewable, and affordable electricity are also being considered.
Eco Wave Power is the sole global inventor, owner, and developer of the unique EWP wave energy device. Due to its 100% control and ownership of the EWP technology, Eco Wave Power can cooperate through a variety of options.
We have the capability to support different project structures such as: BOO (Build, Own, Operate), BOT (Build, Operate, Transfer), BOOT (Build, Own, Operate, Transfer), BLT (Build, lease, transfer), and BLOT projects (Build, lease, operate, transfer).
EWP is interested in selling its generated electricity in utility-scale size, grid-connected, multi-unit arrays to supply electricity for network connection and also distributed, smaller-scale devices to supply designated and off-grid users.
Eco Wave Power provides its clients and partners with a convenient A to Z package of services: starting with undertaking the feasibility studies to support our clients and partners in the validation process of wave energy projects in different geographic locations, and continuing with services of construction, installation, operation, and maintenance services to support our projects.