Photo: Illustration/Eco Wave Power's Gibraltar wave power plant (Courtesy of Eco Wave Power)

Eco Wave Power joins two European business accelerators

Swedish-Israeli wave energy company Eco Wave Power has been selected to join business accelerator programs in two of the most attractive markets for wave energy – the UK and Spain.

Illustration/Eco Wave Power's Gibraltar wave power plant (Courtesy of Eco Wave Power)
Illustration/Eco Wave Power’s Gibraltar wave power plant (Courtesy of Eco Wave Power)

The Spanish governmental organisation ICEX selected Eco Wave Power to join its Rising UP program, that will run over six to eight months.

In the UK, Eco Wave Power will join four-week Cleantech Bootcamp 2021, with program partners including British Embassy in Israel, and corporates such as Shell, Octopus Energy, Hewlett Packard Enterprise, National Grid, and the Clean Growth Fund among others.

Both programs aim to facilitate business opportunities through custom-made investor networks, entry to major national and international events, business development and legal support, as well as local marketing and communication.

Inna Braverman, CEO of Eco Wave Power, said: “Spain and the UK are strategic markets for the expansion of Eco Wave Power’s operations, and having our company participate in Rising UP in Spain and in the Global Tech Connect UK Cleantech Bootcamp 2021 will enable us to further develop the projects we have in our pipeline in these markets, as well as, to secure additional projects”.

Martin Jerch, program manager of Rising UP in Spain, added: “Rising UP in Spain is well positioned to assist Eco Wave Power in developing and implementing its’ technology in the Spanish market, due to its significant expertise in setting up and developing entrepreneurial projects in the country. Eco Wave Power is a great fit for the Spanish market due to the Spanish government’s renewable energy initiatives and Spain’s abundant coastline”.

Spain and the UK are two of the largest potential markets for companies within the renewable energy sector, Eco Wave Power claims.

The company’s wave energy technology has already received positive attention in both countries based on a number of Letters of Intent signed with their largest ports. Since 2020, Eco Wave Power has signed letters of support with the Port of Bilbao, Port of Valencia, Port of Barcelona, and Port of Las Palmas.

Spain has 8,000 km of coastline and set an ambitious target of 74% renewables by 2030, while the UK has over 12,500 KM of coastline and a target of reaching net-zero by 2050.