Leading global wave energy developer Eco Wave Power (Eco Wave Power Global, Ticker Symbol: ECOWVE) and the UK Queen Mary University of London (QMUL), are pleased to announce the approval of a grant by the Wohl Clean Growth Alliance.
The grant is awarded to the parties with the goal of promoting and facilitating the establishment of a long-term research collaboration between Professor Guang Li and Dr. Kamyar Mehran from Queen Mary University of London, and Eco Wave Power’s engineering team. The research collaboration will focus on further development and improvement of the control system for the Eco Wave Power wave energy convertor, to enable a faster commercial rollout of the EWP technology.
As part of this new collaboration, the parties will visit each other’s operational and research facilities, including visits by Professor Li and Dr. Mehran to Eco Wave Power’s wave energy convertors in Israel and Gibraltar and a visit by Eco Wave Power’s team to Queen Mary University of London. In addition, the grant shall be used for the organization of an international conference and dedicated technical workshops with stakeholders from Israel and the UK. The grant size is £20,000 (approximately SEK 238,222).
Inna Braverman, Founder and CEO of Eco Wave Power commented: “This grant from the Wohl Clean Growth Alliance is the second grant approval notice that we have received this month, with the first one being the 178,500 Euro grant from the EU as part of the ILIAD Consortium. We see this as a vote of confidence in Eco Wave Power and our pioneering technology and look forward to a productive collaboration with the team from Queen Mary University of London, which holds significant expertise in marine energy control systems and power and control system engineering.”
“We are grateful for the Wohl Clean Growth Alliance for their vote of confidence and are very excited to commence the collaboration with Eco Wave Power, which is positioned as one of the leading companies in the wave energy sector. We believe that our collaboration will yield significant knowledge and scientific progress, which shall contribute to the commercialization of the wave energy sector”, stated Professor Guang Li and Dr. Kamyar Mehran.
Kate Goldberg, CEO of the Wohl Legacy Foundation congratulated both parties on the grant approval and said: “We believe that Eco Wave Power and the University of Queen Mary will serve as an example of a productive collaboration between a scientific and a commercial entity, while also reinforcing the relations between leading Israeli and UK entities.”
About the Wohl Clean Growth Alliance
The Wohl Clean Growth Alliance is an initiative funded by the Wohl Legacy Foundation, that is managed by the British Council together with the UK Science and Innovation Network in Israel in partnership with the Israeli Ministry of Science and Technology, which aims further research-linked cooperation between the UK and Israel in areas of clean growth linked to food, water, and energy, with the hope that the supported research collaborations will be able to address pressing global challenges and establish Britain and Israel as leading partners in these fields.
About Queen Mary University of London (QMUL)
QMUL is one of the UK’s leading research-focused higher education institutions. Amongst the largest of the colleges of the University of London, Queen Mary’s academic staffs deliver world class degree programmes and research. QMUL ranked 9th in research quality in the 2014 UK Research Excellence Framework (REF), and one of the 24 Russell Group Universities of the UK.
About Eco Wave Power Global (SE0012569663)
Eco Wave Power Global AB (publ) (“Eco Wave Power”) is a leading onshore wave energy technology company that developed a patented, smart, and cost-efficient technology for turning ocean and sea waves into green electricity. Eco Wave Power’s mission is to assist in the fight against climate change by enabling commercial power production from sea and ocean waves.
EWP is recognized as a “Pioneering Technology” by the Israel’s Ministry of Energy and was labelled as an “Efficient Solution” by the Solar Impulse Foundation. Eco Wave Power’s project in Gibraltar has received funding from the European Union Regional Development Fund and from the European Commission’s HORIZON2020 framework program. The company is also recognized by the United Nations in receiving the “Global Climate Action Award”.
The Eco Wave Power share (ECOWVE) is traded on Nasdaq First North Growth Market.