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 is the only wave energy company in the world, to own and operate a wave energy array, which is connected to the grid in accordance with a Power Purchase Agreement (PPA).
Cost efficient, reliable technology
- 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.