Eco Wave Power Raises $2 Million for Sea Waves Energy Generator

25 August, 2015

The EWP system converts energy from waves to produce cheap electrical power source

The EWP system converts energy from waves to produce cheap electrical power source

The basic concept of Eco Wave solution
The basic concept of Eco Wave solution

Eco Wave Power from Tel-aviv, Israel, has announced that it has successfully closed the first round of fundraising led by Pirveli Ventures. Following the investment of $2 million, a partner of the investment fund will join Eco Wave Power’s board of directors.

The company develops a unique wave energy power plant, which can take advantage of the vast wave energy potential around the world. The EWP convertors draw energy from wave power throughout uniquely shaped buoys, “The Wave Clapper” and the “Power Wing” that rise and fall with the up and down motion, lifting force, change of water level, hydraulic air lock, and incident flux of waves.

The motion of the floats is then delivered to shore by a subsea cable. The Shore- located, machinery room”/hydro pneumatic system (located on land, just like a regular power station), converts the energy from this motion into fluid pressure, which is used to spin a generator, producing electricity.

EWP performed three years real conditions testing to prove the durability of its components. Once proven, EWP started working on components upgrade and development of a unique automation system that serves to collect data and enables remote control, operation and maintenance of the power plant, while providing the grid with stable electric output.

In the beginning of July, EWP installed the improved system in Jaffa Port, Israel. The upgraded power plant will be working with two floaters, which will be tested towards its deployment in the wave energy project in Gibraltar. EWP currently holds projects pipe-line of 111MW. The Company initiated the execution of such pipe-line with a 5MW PPA (Power Purchase Agreement) signed with the Government of Gibraltar, during 2014.

Eco Wave Power’s Conversion Technology Explained:

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