|The EWP Conversion Unit as shipped to AltaSea in the Port of Los Angeles|
LOS ANGELES (October 7, 2022) – Eco Wave Power Global AB (publ) (Nasdaq: WAVE) (“Eco Wave Power” or the “Company”) is pleased to announce that it will be providing sponsorship to AltaSea’s innovative and engaging Blue Hour 3: The Warehouse fundraising event on October 8, which will bring together art and technology to tell the story of the emerging Blue Economy. Blue Hour 3: The Warehouse will celebrate the ocean through various art installations spread throughout Berth 60 – a 60,000 square foot warehouse – on the AltaSea campus at the Port of Los Angeles in San Pedro.
During the event, AltaSea will honor one of the ocean’s most prominent explorers, Sylvia Earle. The oceanographer was the first person to walk solo on the sea floor and has logged over 7,000 hours underwater. Prominent guest artist David LaChapelle will auction off a rare, limited edition copy of one of his books. Guest artist Taiji Terasaki, in collaboration with the environmental organization Parley for the Oceans, will debut his new installation, utilizing an old shipping container. A number of other artists will display their work as well.
“We are proud to support this event as a Trailblazer Sponsor, as we understand that raising awareness about the Blue Economy’s potential to change the world as we know it is the key to faster adoption of renewable energy technology and other efforts to more effectively and sustainably harness the power of our oceans,” said Inna Braverman, Founder and CEO of Eco Wave Power.
Earlier this year, Eco Wave Power entered a collaboration agreement with AltaSea, announcing plans to bring their innovative wave energy technology to AltaSea’s 35-acre campus at the Port of Los Angeles, the nation’s busiest seaport. The conversion unit is on its way to the AltaSea site and is expected to arrive to AltaSea’s premises during the upcoming week. This pilot station is part of Eco Wave Power’s increased focus on bringing its pioneering wave energy technology to the United States and expanding its worldwide presence.
“We are proud to support AltaSea and their blue economy initiatives. It is exciting to see the merging of art and science to highlight what might be the biggest economic boom in our lifetime – the Blue Economy,” added Braverman. “The arrival of the energy conversion unit in parallel to the Blue Hour event is fitting because it further underscores the many ways in which the burgeoning Blue Economy can improve our lives.”
The AltaSea pilot project marks the first time Eco Wave Power’s technology will be located in the United States. The technology has already been deployed in Israel and further deployments in Spain, Portugal, and other locations are underway, completing the Company’s growing 327.7 MW project pipeline. [According to the U.S. Energy Information Administration, wave energy off the nation’s coasts could have generated the equivalent of about 66 percent of all the electricity generated across the country in 2020.
Doors for the fundraiser open at 5 PM on Saturday, October 8 at Berth 60 at AltaSea. Visitors will have the opportunity to walk through the AltaSea Exploration Wharf, experience a wide array of art installations and enjoy cocktails and appetizers. The program begins at 7 PM and will include the presentation of AltaSea’s inaugural Cornerstone Award, as well as the presentation of AltaSea’s Explorer Award to famed oceanographer Sylvia Earle – the first person to walk solo on the bottom of the sea. Additional information can be found at: https://altasea-project-blue.org/the-blue-hour-2022/
Tickets can be purchased at: https://www.eventbrite.com/e/blue-hour-3-the-warehouse-tickets-399653834377
About Eco Wave Power Global AB (publ)
Eco Wave Power is a leading onshore wave energy technology company that developed a patented, smart and cost-efficient technology for turning ocean and sea waves into green electricity. Eco Wave Power’s mission is to assist in the fight against climate change by enabling commercial power production from the ocean and sea waves.
Eco Wave Power is recognized as a “Pioneering Technology” by the Israeli Ministry of Energy and was labelled as an “Efficient Solution” by the Solar Impulse Foundation. Eco Wave Power received funding from the European Union Regional Development Fund, Innovate UK and the European Commission’s Horizon 2020 framework program. The Company has also received the “Global Climate Action Award” from the United Nations.
Eco Wave Power’s American Depositary Shares (WAVE) are traded on the Nasdaq Capital Market. More info: www.ecowavepower.com
Information on, or accessible through, the websites mentioned above does not form part of this press release.
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Eco Wave Power is using forward-looking statements when it discusses: the potential for the Blue Economy to change the world and be an economic boom; and that the Company’s energy conversion unit in transit to AltaSea at the Port of Los Angeles is expected to arrive in the upcoming week. These forward-looking statements and their implications are based on the current expectations of the management of Eco Wave Power and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading “Risk Factors” in Eco Wave Power’s Annual Report on Form 20-F for the fiscal year ended December 31, 2021 filed with the SEC, which is available on the on the SEC’s website, www.sec.gov.
For more information, please contact:
Inna Braverman, CEO
For additional investor/media inquiries, please contact:
Matt Chesler, CFA
Jacob Scott, Vectis Strategies