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:

  1. 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].
  2. 1 billion people currently lack access to electricity[3].
  3. Almost half of the world’s population is living within 100 kilometers of the coastline[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. 190 MW, with relatively high power prices achieved due to our unique position. The company is now ready for commercial take-off starting with the expansion of the power plant in Gibraltar to 5 MW, while we also intend to build to a new power plant in the UK of 10 MW.

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.

 

[1] https://www.who.int/airpollution/en/

[2] https://www.who.int/mediacentre/news/releases/2014/air-pollution/en/

[3] https://www.weforum.org/agenda/2018/06/1-billion-people-lack-electricity-solution-mini-grid-iea/

[4] https://www.un.org/sustainabledevelopment/wp-content/uploads/2017/05/Ocean-fact-sheet-package.pdf