wave power
Image credit: Eco Wave Power

Israeli company Eco Wave Power has been selected to participate in two European accelerator programmes, developments which the company will leverage to expand its global footprint.

Eco Wave Power has been selected to participate in the Rising Up in Spain initiative and the Cleantech Bootcamp 2021 in the UK. The projects will enable the company to establish partnerships and expand in two of the world’s most attractive markets for renewable and wave energy.

Spain has 8,000 km of coastline and has set an ambitious target of 74% renewables by 2030, while the UK has over 12,500 KM of coastline and a target of reaching net-zero by 2050.

The company’s wave technology has already received positive attention in the two markets evidenced by a number of Letters of Intent which Eco Wave Power has signed with the largest ports in these countries. Since 2020, Eco Wave Power has signed letters of support with the Port of Bilbao, Port of Valencia, Port of Barcelona, and Port of Las Palmas.

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As part of the Rising Up in Spain project, Eco Wave will network with investors, technology companies and utilities over a period of 6 to 8 months. Each year, the Spanish government, Cink and The Venture City select 15 startups whose innovative projects would have received positive feedback in the market for further support to accelerate commercialisation of their technologies.

Under the Cleantech Bootcamp 2021, the company will connect with UK, regional and international companies including National Grid, Shell, Octopus Energy, Hewlett Packard Enterprise and the Clean Growth Fund to identify business opportunities and areas of collaboration.

Inna Braverman the CEO of Eco Wave Power said that: “Spain and the UK are strategic markets for the expansion of Eco Wave Power’s operations, and having our company participate in Rising UP in Spain and in the Global Tech Connect UK Cleantech Bootcamp 2021 will enable us to further develop the projects we have in our pipeline in these markets, as well as, to secure additional projects.”

Martin Jerch, programme manager of Rising UP in Spain, adds: “Rising UP in Spain is well positioned to assist Eco Wave Power in developing and implementing its’ technology in the Spanish market, due to its significant expertise in setting up and developing entrepreneurial projects in the country. Eco Wave Power is a great fit for the Spanish market due to the Spanish government’s renewable energy initiatives and Spain’s abundant coastline.”

Elinor Honigstein, Head of UK Office & Strategic Partnerships, UK Israel Tech Hub commented: “We are delighted to have Eco Wave Power join the Cleantech Bootcamp 2021, as one of the 5 Israeli companies selected to join the dedicated program for Israeli & European clean technology companies.  We see a bright future for Eco Wave Power in the UK and are looking forward to assisting them on their journey in the UK.”