Eco Wave Power Ltd. - Experts & Thought Leaders

Eco Wave Power Global AB (“Eco Wave Power” or the “Company”), a global provider of onshore wave energy technology, is pleased to announce it has received the final Nationwide Permit (NWP) from the U.S. Army Corps of Engineers for its ground-breaking wave energy project at AltaSea’s premises at the Port of Los Angeles. This milestone marks a significant step forward in the development of Eco Wave Power’s pioneering wave energy project, which is set to become the first onshore wave energy installation in the United States. Eco Wave Power to install wave energy floaters The system will also include an energy conversion unit, comprised of two 20-foot shipping containers The permit, issued under NWP 52 for Water-Based Renewable Energy Generation Pilot Projects, authorises Eco Wave Power to install eight wave energy floaters on the piles of an existing concrete wharf structure on the east side of Municipal Pier One. The system will also include an energy conversion unit, comprised of two 20-foot shipping containers, which will be placed on the wharf deck and connected to the floaters. With the conversion unit already shipped and located on site, Eco Wave Power plans to complete installation by the end of Q1 2025. Agreement between Eco Wave Power and Shell In addition to securing the final permit, this achievement marks the completion of two key milestones under Eco Wave Power’s agreement with Shell International Exploration and Production Inc. (“Shell”), which is expected to boost the Company’s revenues in Q4, 2024 The agreement between the parties was announced in April 2024, according to which, Eco Wave Power and Shell will collaborate for the development of a wave energy pilot in the Port of Los Angeles. Now, with the permit in place, the parties will enter the execution phase of the project, as per the terms of the agreement. Eco Wave Power receives final Nationwide Permit (NWP) “We are thrilled to receive this final permit and move one step closer to bringing wave energy to the U.S.,” said Inna Braverman, Founder and Chief Executive Officer of Eco Wave Power, adding “This project represents not only a technological breakthrough but also a crucial step in advancing the global transition to renewable energy.” Inna Braverman continues, “We are deeply grateful for the support of AltaSea, the Port of Los Angeles, Shell MRE, and the U.S. Army Corps of Engineers as we work to make wave energy a key part of the sustainable energy landscape.” Advancing the commercialisation of wave energy The U.S. Department of Energy’s National Renewable Energy Laboratory estimates that wave energy has the potential to generate over 1,400 terawatt-hours per year - enough to power approximately 130 million homes. With this project, Eco Wave Power is advancing the commercialisation of wave energy as a reliable and clean source of renewable power, further strengthening its position as a leader in the industry.

Eco Wave Power Global AB, a publicly traded onshore wave energy technology company announced the appointment of Ran Atias as Vice President of Engineering for the Eco Wave Power Group. Mr. Atias will begin his employment immediately and will be based in Eco Wave Power’s headquarters in Tel Aviv, Israel. Ran Atias Mr. Atias holds an MBA and a B.Sc. in Mechanical Engineering from Ben-Gurion University and joins Eco Wave Power with broad experience in the management of high-complexity mega projects, driving research and development, and managing diverse engineering teams. With more than 10 years of engineering experience, Ran has demonstrated success in product scaling across a variety of industries, including the automotive, defence, and robotics industries. Engineering efficiency Inna Braverman, Founder and Chief Executive Officer of Eco Wave Power, stated, “Ran brings an agile spirit to product and engineering teams. I believe that by challenging the status quo, he will be able to increase engineering efficiency and accelerate project delivery timelines." "This will enable Eco Wave Power to execute more projects faster, which will drive the Company’s worldwide growth.” Grid-connected projects “Thus far, Eco Wave Power has executed two grid-connected projects (in Gibraltar and Israel, in Collaboration with EDF Renewables IL) and is currently moving forward with its third, fourth, and fifth projects in parallel." "We have officially kicked off the development and implementation of our first U.S.-based project in the Port of Los Angeles (with co-investment from Shell MRE), Taiwan (as part of a sale agreement entered with I-Ke International Ocean Energy Co.) and in Portugal (our first commercial project). As we plan to add more projects into our execution plans in the upcoming months and enhance the Company’s revenues, I believe that Ran will have a strategic value in achieving the Company’s goals,” added Ms. Braverman. Commercialisation strategy Mr. Atias stated, “What attracted me to Eco Wave Power was the ability to transform the entire renewable energy industry." "I am excited to join Eco Wave Power’s leadership team and lead its engineering team to contribute to Eco Wave Power’s success as the Company progresses to the next phase of its commercialisation strategy.” Goals and objectives Mr. Atias will oversee all aspects of the Company’s engineering functions to facilitate alignment with its broader goals and objectives. He will be responsible for expanding the Company’s strategic technology development and implementation. This strategic addition to its executive team underscores Eco Wave Power’s unwavering commitment to driving innovation and leadership within the wave energy industry while accelerating the delivery of projects.

Eco Wave Power Global AB, a publicly traded onshore wave energy technology company announces that it signed an agreement for the sale of the first wave energy generation unit with I-Ke International Ocean Energy Co., a subsidiary of Lian Tat Company, a maritime engineering company, with the purpose of bringing Eco Wave Power’s wave energy technology to Taiwan. According to the terms of the agreement, I-Ke will be providing the full financing for the 100KW pilot project, by buying a turnkey conversion unit from Eco Wave Power. This conversion unit for the 100KW wave energy power station includes all the hydraulic and electric conversion parts, coupled with the smart control and automation system. Later stage expansion I-Ke has identified the location for the first pilot station of 100KW installed capacity on the east coast of Taiwan (along with an additional 83 potentially suitable sites) and it is responsible for obtaining permits, land use consents and any licensing and approvals necessary to complete the installation of the planned wave energy projects. I-Ke will locally produce the floaters, hydraulic cylinders and all other components of the technology Moreover, I-Ke will locally produce the floaters, hydraulic cylinders and all other components of the technology, which are located on the seaside of the marine structure. I-Ke believes this will position Taiwan as the hub for later stage expansion into other Asia Pacific regions. Energy power station This newly signed agreement, which is based on a memorandum of understanding (MOU) that was signed between Lian Tat and Eco Wave Power in June 2023, will leverage Eco Wave Power’s wave energy conversion technology, which has been deployed in several locations worldwide (such as Gibraltar, Israel, and soon in Los Angeles and Portugal), to maximise energy extraction and optimise the project’s performance for the Taiwanese coastline. According to a press statement made by I-Ke, the first stage of the project will be the development of a 20 MW wave energy power station in Taiwan, beginning with a 100KW pilot and expanding in stages to a total targeted installed commercial capacity of 400 MW. Diversified renewable energy To announce Eco Wave Power’s first official step into the Asian market, representatives from Eco Wave Power, Lian Tat and I-Ke held a joint press conference in Taipei, Taiwan, on Friday, the 4th of October 2024, where CY Huang, the Chairman of Lian Tat stated: “Taiwan is an island country with a coastline of 1,566 kilometres, with high potential for the installation of marine energy. The construction of Eco Wave Power’s project is relatively easy, and I believe that it will be a significant stepping stone for the development of green electricity in Taiwan. I also think that this will allow Taiwan to break away from existing renewable energy restrictions and develop in the direction of diversified renewable energy.” Site selection process The domestic energy industry will be further upgraded and transformed “As a result, we have already completed the site selection process and once the 100KW demonstration site is built, with positive results, our target is to expand it to 20MW, and we will continue to push up to more than 400MW of wave energy installed capacity.” Mr. Huang added that the government’s renewable energy policy and installation capacity are getting more ambitious year by year, which is evident by the setting of a marine energy wholesale purchase rate of TWD 7.32 (equivalent to USD 0.23), and that he believes that through this innovative development of ocean energy, the domestic energy industry will be further upgraded and transformed. Domestic energy industry Inna Braverman, Founder and CEO of Eco Wave Power stated: “I would like to thank CY and his companies–Lian Tat and I-Ke for the warm hospitality. I am certain that Eco Wave Power’s official visit in Taiwan and the signing of this official collaboration agreement between our companies is the beginning of a true friendship and a productive business collaboration.” “Taiwan is extremely suitable for the implementation of Eco Wave Power’s pioneering technology, as it has more than 1500 km of coastline, coupled with significant wave heights and very impressive local technological skills. Due to Taiwan’s impressive technological abilities, we plan to produce our floaters locally, thereby creating not only clean electricity from the waves, but also new wave-energy related workplaces.” Lowering pollution levels Mr. Huang, who also serves as president of investment banking firm FCC Partners “I believe that this new collaboration will not only be a win-win collaboration for both parties but will also serve as a pioneering step towards the implementation and adaptation of wave energy all over Asia, as this will be the first onshore wave energy array in the region. So let’s change the world together- One Wave at a Time!” added Ms. Braverman. Mr. CY Huang, a respected leader in the maritime space, has long advocated for and helped to bring clean energy to Taiwan. Since being named the company’s chairman in 2016, Mr. Huang has led Lian Tat’s transformation into a renewable energy solutions provider. Lian Tat works to find renewable energy resources to help Taiwan achieve its clean energy goals and answer the maritime industry’s calls for decarbonisation and lowering pollution levels. Mr. Huang, who also serves as president of investment banking firm FCC Partners, is one of the pioneers in the investment banking industry in Asia. In 2020, Mr. Huang spearheaded the launch of the Mediterranean and Asian Marine Alliance, which helps foster ocean-related research and solutions. The alliance seeks to connect with Israeli ocean research to improve Taiwan’s participation in maritime affairs globally.