Eco Wave Power’s CEO Arrives for an Official Site Visit on the East Coast of Taiwan

Eco Wave Power Global AB (publ) (Nasdaq: WAVE) (“Eco Wave Power”), a leading, publicly traded onshore wave energy technology company, announced today that following the signing of the agreement for the sale of the first wave energy generation unit to I-Ke International Ocean Energy Co. (“I-Ke”), a subsidiary of Lian Tat Company (“Lian Tat”), a leading maritime engineering company, the Chief Executive Officer of Eco Wave Power, Ms. Inna Braverman arrived for an official site visit to the planned installation site for Eco Wave Power’s technology on the east coast of Taiwan.

Ms. Braverman was accompanied by representatives from I-Ke, among which Sung Chang Hung, Director of Business Development, Wang Chu Cheng, Site Manager and Mechanical Engineer, and Lee Yu Ting, Project Manager, who presented their installation plans and timeline.

During the site visit, Ms. Braverman also met with the representatives of the Port where the project is set to be installed, who conveyed their excitement about this landmark project.

As communicated earlier this month, I-Ke will be providing the full financing for the 100KW pilot project by buying a turnkey conversion unit from Eco Wave Power. Meaning that Eco Wave Power will sell to I-Ke the conversion unit for the 100KW wave energy power station, which shall include all the hydraulic and electric conversion parts, coupled with the smart control and automation system, while 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 that this will position Taiwan as the hub for later stage expansion into other Asia-Pacific regions.

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, that will begin with a 100-kW pilot and expand in stages to a total targeted installed commercial capacity of 400 MW.

Mr. CY Huang, the Chairman of Lian Tat and a respected leader in the maritime space, which has long advocated for and helped to bring clean energy to Taiwan, commented as follows: “We entered an MOU with Eco Wave Power in 2023, and entered into a Final Agreement a few days ago. In the time that has passed, we have selected a site for the first 100KW demonstration in Taiwan and explored additional 83 potential sites all over the Taiwanese coastline for the commercial implementation of Eco Wave Power’s technology in the future. I hope and believe that we will keep the momentum going, with the support of Eco Wave Power, the Port and the Government of Taiwan”.

Ms. Inna Braverman, Founder and CEO of Eco Wave Power commented as follows: “I am very excited to visit the first deployment site for Eco Wave Power’s technology in Taiwan, which is also expected to be our first deployment site in Asia. I am very impressed with the progress achieved by Lian Tat and I-Ke in such a short time frame and I would like to extend my gratitude to Mr. Huang, the Port, and the Government of Taiwan for enabling for the implementation of our innovative and groundbreaking project in Taiwan”.

During Ms. Braverman’s official visit to Taiwan she has also presented Eco Wave Power’s technology during the prestigious Taiwan Energy & Net Zero Conference and personally presented the Company’s technology to Mr. Yu Zheng Wei, the Head of Taiwan’s Energy Bureau, and Mrs. Wang Mei Hua, Taiwan’s former Minister for Economic Affairs.

Next week, Ms. Braverman will visit Singapore and India, where she will hold meetings with the Singapore Navy and a large Fortune 500 petroleum company from India, with the goal of further reinforcing Eco Wave Power’s presence in the Asian market.