Eco Wave Power’s proprietary technology is a unique and innovative approach to the wave energy system design, which provides the following competitive advantages:
The EWP technology has attractive construction and production prices. EWP’s cost is significantly lower than offshore competition, since during Eco Wave Power’s installation and O&M activities, the company does not require the use of ships, divers, underwater cabling and mooring.
Eco Wave Power’s technology is highly reliable as most of the cost of the system located on land, and only the floater mechanisms are located in the water. Therefore, the Eco Wave Power conversion unit is not subject to an aggressive marine environment. Furthermore, the Company utilizes storm protection mechanism, which prevents damages to the floaters during storms.
The reduced CAPEX and high reliability associated with the Eco Wave Power system allowed EWP to receive insurance for its power stations. the Company’s installations in Gibraltar and Israel are insured by notable insurance companies.
The Eco Wave Power system does not connect to the ocean/sea floor and does not create a new presence in the surrounding marine environment.