Israeli wave energy player gets industry accolades
- Business & Finance
Eco Wave Power, an Israeli wave energy player, has received several recognitions for the progress the company made in the wave energy sector.
Eco Wave Power (EWP) has completed the construction and entered the testing phase of its first commercial scale power plant in Gibraltar, the company informed.
It will soon hold an official press conference, with the participation of the Government of Gibraltar, which will mark the start of operation of the power station located in the Rock.
EWP also received EU funding for its wave energy project in Gibraltar and was recognized by Acquisition International Magazine for ‘Israel Energy & Resources Deal of the Year’ for successfully closing its first fund-raising round led by Pirveli Ventures.
Furthermore, the co-founders of EWP, David Leb and Inna Braverman, have been nominated for the ‘CEO of the Year’ award by IAIR, a global independent publication and research institute for global economy and sustainability.
IAIR Awards include EWP’s nomination for an additional award for ‘Excellence in Global Economy and Sustainability’.
David Leb and Inna Braverman said in a joint statement: “Eco Wave Power believes that these awards and nominations are the result of hard work, determination, devotion, vision and passion. Eco Wave Power is on the right track and we can all look forward to a brighter, Eco Wave powered, future.”
As reported earlier, the wave power plant in Gibraltar will be constructed in phases, with the implementation of the 100 kW power plant as the first phase, which will be expanded to 5 MW in the second phase.
Eco Wave Power currently holds projects pipe-line of 111 MW, with the total funding requirement for the execution of the whole pipe-line being around $150 million.