Consortium Including Eco Wave Power Secures EUR 2.45 Million Grant to Deploy Scalable Wave Energy Solutions Across Atlantic Region
Eco Wave Power (NASDAQ: WAVE) has secured participation in a €2.45 million transnational project called the Atlantic Wave Energy Sustainable Deployment Initiative (AWESDI), funded under the Interreg Atlantic Area Programme. The project aims to advance sustainable wave energy deployment in Atlantic coastal regions.
As part of an international consortium led by the University of Vigo's Centro de Investigación Mariña, Eco Wave Power will contribute to feasibility studies in Portugal, provide operational insights, validate the Sustainable Design Toolkit, and help develop the Wave Energy Deployment Roadmap. The consortium includes 12 partners from Portugal, Spain, France, and Ireland, combining research institutions, private sector leaders, and government organizations.
The project is part of a larger €55 million funding initiative by the Interreg Atlantic Area 2021-2027 programme, which approved 24 cooperation projects focusing on blue innovation, environmental sustainability, and tourism.
Eco Wave Power (NASDAQ: WAVE) ha ottenuto la partecipazione a un progetto transnazionale del valore di 2,45 milioni di euro chiamato Atlantic Wave Energy Sustainable Deployment Initiative (AWESDI), finanziato nell'ambito del Programma Interreg Atlantic Area. L'obiettivo del progetto è promuovere lo sviluppo sostenibile dell'energia dalle onde nelle regioni costiere atlantiche.
Come parte di un consorzio internazionale guidato dal Centro de Investigación Mariña dell'Università di Vigo, Eco Wave Power contribuirà a studi di fattibilità in Portogallo, fornirà informazioni operative, convaliderà il Sustainable Design Toolkit e parteciperà allo sviluppo della Roadmap per l'implementazione dell'energia dalle onde. Il consorzio comprende 12 partner provenienti da Portogallo, Spagna, Francia e Irlanda, riunendo istituti di ricerca, leader del settore privato e enti governativi.
Il progetto fa parte di un'iniziativa di finanziamento più ampia da 55 milioni di euro del programma Interreg Atlantic Area 2021-2027, che ha approvato 24 progetti di cooperazione focalizzati su innovazione blu, sostenibilità ambientale e turismo.
Eco Wave Power (NASDAQ: WAVE) ha asegurado su participación en un proyecto transnacional de 2,45 millones de euros llamado Atlantic Wave Energy Sustainable Deployment Initiative (AWESDI), financiado por el Programa Interreg Atlantic Area. El proyecto tiene como objetivo promover el despliegue sostenible de energía undimotriz en las regiones costeras del Atlántico.
Como parte de un consorcio internacional liderado por el Centro de Investigación Mariña de la Universidad de Vigo, Eco Wave Power contribuirá con estudios de viabilidad en Portugal, aportará conocimientos operativos, validará el Sustainable Design Toolkit y ayudará a desarrollar la Hoja de Ruta para el Despliegue de Energía de las Olas. El consorcio incluye a 12 socios de Portugal, España, Francia e Irlanda, que combinan instituciones de investigación, líderes del sector privado y organizaciones gubernamentales.
El proyecto forma parte de una iniciativa de financiación más amplia de 55 millones de euros del programa Interreg Atlantic Area 2021-2027, que aprobó 24 proyectos de cooperación centrados en innovación azul, sostenibilidad ambiental y turismo.
에코 웨이브 파워 (NASDAQ: WAVE)는 인터렉 애틀랜틱 에어리어 프로그램의 지원을 받는 245만 유로 규모의 대서양 파도 에너지 지속 가능 배치 이니셔티브(AWESDI)라는 다국적 프로젝트에 참여하게 되었습니다. 이 프로젝트는 아틀란틱 연안 지역에서 지속 가능한 파도 에너지 배치를 촉진하는 것을 목표로 합니다.
비고 대학교의 Centro de Investigación Mariña가 주도하는 국제 컨소시엄의 일원으로서, 에코 웨이브 파워는 포르투갈에서 타당성 조사에 참여하고, 운영 통찰을 제공하며, 지속 가능한 설계 도구 키트를 검증하고, 파도 에너지 배치 로드맵 개발을 지원할 예정입니다. 이 컨소시엄에는 포르투갈, 스페인, 프랑스, 아일랜드의 12개 파트너가 포함되어 있으며, 연구 기관, 민간 부문 리더, 정부 기관이 함께 참여하고 있습니다.
이 프로젝트는 인터렉 애틀랜틱 에어리어 2021-2027 프로그램의 5,500만 유로 규모 자금 지원 이니셔티브의 일부로, 청색 혁신, 환경 지속 가능성, 관광에 중점을 둔 24개의 협력 프로젝트가 승인되었습니다.
Eco Wave Power (NASDAQ : WAVE) a obtenu sa participation à un projet transnational d’un montant de 2,45 millions d’euros appelé Atlantic Wave Energy Sustainable Deployment Initiative (AWESDI), financé dans le cadre du programme Interreg Atlantic Area. Ce projet vise à promouvoir le déploiement durable de l’énergie des vagues dans les régions côtières atlantiques.
Dans le cadre d’un consortium international dirigé par le Centro de Investigación Mariña de l’Université de Vigo, Eco Wave Power contribuera à des études de faisabilité au Portugal, apportera des connaissances opérationnelles, validera le Sustainable Design Toolkit et participera à l’élaboration de la feuille de route pour le déploiement de l’énergie des vagues. Le consortium regroupe 12 partenaires du Portugal, d’Espagne, de France et d’Irlande, combinant des institutions de recherche, des leaders du secteur privé et des organisations gouvernementales.
Ce projet fait partie d’une initiative de financement plus vaste de 55 millions d’euros portée par le programme Interreg Atlantic Area 2021-2027, qui a approuvé 24 projets de coopération axés sur l’innovation bleue, la durabilité environnementale et le tourisme.
Eco Wave Power (NASDAQ: WAVE) hat die Teilnahme an einem transnationalen Projekt mit einem Volumen von 2,45 Millionen Euro gesichert, das Atlantic Wave Energy Sustainable Deployment Initiative (AWESDI) heißt und im Rahmen des Interreg Atlantic Area Programms gefördert wird. Ziel des Projekts ist es, die nachhaltige Nutzung von Wellenenergie in den atlantischen Küstenregionen voranzutreiben.
Als Teil eines internationalen Konsortiums unter der Leitung des Centro de Investigación Mariña der Universität Vigo wird Eco Wave Power Machbarkeitsstudien in Portugal durchführen, operative Einblicke liefern, das Sustainable Design Toolkit validieren und bei der Entwicklung der Roadmap für die Einführung von Wellenenergie helfen. Das Konsortium umfasst 12 Partner aus Portugal, Spanien, Frankreich und Irland, darunter Forschungseinrichtungen, führende Unternehmen der Privatwirtschaft und Regierungsorganisationen.
Das Projekt ist Teil einer größeren Förderinitiative in Höhe von 55 Millionen Euro des Interreg Atlantic Area Programms 2021-2027, das 24 Kooperationsprojekte genehmigt hat, die sich auf blaue Innovation, ökologische Nachhaltigkeit und Tourismus konzentrieren.
- Secured significant funding of €2.45 million through the AWESDI project
- Strategic partnership with 12 major institutions across four countries
- Alignment with company's expansion plans in Portugal
- Recognition and support from major European funding programs
- Project involves multiple stakeholders which may complicate decision-making and implementation
- Results and commercial benefits may take time to materialize
Insights
Eco Wave Power secures substantial EU funding for wave energy expansion, strengthening its market position in the renewable energy transition.
Eco Wave Power's participation in the €2.45 million AWESDI consortium represents a significant development for this emerging wave energy player. The funding, provided through the European Regional Development Fund, positions the company to expand its technological footprint across multiple Atlantic coastal regions including Portugal, Spain, France, and Ireland.
The consortium's composition is particularly noteworthy - bringing together 11 partners across four countries, including prestigious research institutions (University of Vigo, Universidade do Porto, University College Cork), government organizations, and private sector entities. This cross-sector collaboration model significantly de-risks technology deployment by combining academic expertise with commercial implementation pathways.
From an investment perspective, this grant delivers several key advantages. First, it provides non-dilutive capital that strengthens Eco Wave Power's balance sheet without impacting ownership structure. Second, it creates a clear pathway to commercial-scale implementation, particularly in Portugal where the company is preparing its first megawatt-scale installation. Third, the involvement in crafting a Wave Energy Deployment Roadmap positions the company to influence future regulatory frameworks in its favor.
The timing aligns with accelerating European investments in alternative renewable energy sources beyond wind and solar. Wave energy technology remains largely pre-commercial but offers compelling advantages in predictability and power density compared to other renewables. Eco Wave Power's approach of attaching to existing marine infrastructure potentially solves the cost and environmental impact challenges that have historically hampered wave energy adoption.
While this funding alone won't transform Eco Wave Power's immediate revenue prospects, it represents crucial validation and provides a structured pathway toward commercial viability across multiple European markets.
Stockholm, Sweden--(Newsfile Corp. - July 10, 2025) - Eco Wave Power Global AB (publ) (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a leader in onshore wave energy technology, is proud to announce its participation in the Atlantic Wave Energy Sustainable Deployment Initiative (AWESDI) – a newly approved €2.45 million transnational project funded under the Interreg Atlantic Area Programme's Third Call for Proposals.
The project, which targets Priority 2.1 of the Atlantic Area Programme, promoting energy efficiency and reducing greenhouse gas emissions, aims to advance the sustainable and scalable deployment of wave energy technologies in Atlantic coastal regions.
Illustration of Eco Wave Power's upcoming project in Portugal
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11247/258400_1159d01fb4cdbbe7_001full.jpg
The Atlantic Area Programme, co-funded by the European Union through the European Regional Development Fund (ERDF), supports transnational cooperation projects that advance sustainable development and regional cohesion in Atlantic coastal regions. The approved projects span key areas such as climate resilience, renewable energy, and blue innovation—reinforcing Eco Wave Power's role at the forefront of the global clean energy transition.
The AWESDI project is coordinated by the Centro de Investigación Mariña (CIM) of the University of Vigo and brings together an international consortium of top research institutions, private sector leaders, and government organizations from Portugal, Spain, France, and Ireland. In addition to Eco Wave Power, project partners include:
- Universidade do Porto (Portugal)
- Université Le Havre Normandie (France)
- University College Cork (Ireland)
- Marine Institute (Ireland)
- GEPS Techno (France)
- Groupe Legendre (France)
- Fundamar (Spain)
- Pôle Mer Bretagne Atlantique (France)
- Atlantic Technological University (Ireland)
- Xunta de Galicia (Spain)
As part of its contribution, Eco Wave Power will:
- Support feasibility studies for onshore and nearshore deployment sites in Portugal;
- Provide operational insights and performance data from existing wave energy installations;
- Validate the Sustainable Design Toolkit and inform permitting and deployment planning; and
- Contribute to the development of the Wave Energy Deployment Roadmap from an industry perspective.
"AWESDI is a powerful opportunity to bridge research, policy, and real-world deployment across the Atlantic coastline," said Inna Braverman, Founder and CEO of Eco Wave Power. "By participating in this ambitious collaboration, we will help accelerate the adoption of sustainable wave energy and further demonstrate the environmental and economic potential of our technology."
The funding will support technical development, cross-border collaboration, and environmental assessments in cooperation with leading research institutions and port stakeholders. It also aligns with Eco Wave Power's expanding pipeline in Portugal, where the Company is preparing for its first megawatt-scale installation.
This milestone adds to Eco Wave Power's growing international recognition. The Company's projects have received support from public funding programs including Horizon 2020, the Israeli Energy Ministry, Innovate UK, and the European Union's Regional Development Fund. Eco Wave Power's patented floaters convert wave motion into clean electricity by attaching to existing marine infrastructure, offering scalable and low-impact power generation for coastal communities.
Background on the Atlantic Area Programme's Third Call:
During the Monitoring Committee meeting held on July 3, 2025, in Galway, Ireland, the Interreg Atlantic Area 2021–2027 approved 24 cooperation projects for funding under its Third Call for Proposals. These projects were selected from 80 applications and represent a total investment of €55 million, of which
The selected projects span three core themes:
- Blue innovation and competitiveness: 6 projects (total value €11.9M) focusing on SME training, algae-based biomass industries, digital integration in aquaculture, and prototyping activities to support startups and upskill a new generation of professionals in the blue economy.
- Blue and green environment: 13 projects (total value €31.6M), including initiatives to accelerate wave energy deployment, develop floating wind technologies, improve ocean monitoring, and enhance biodiversity, coastal resilience, and port-city integration.
- Blue sustainable and social tourism and culture: 5 projects (total value €11.6M) aimed at promoting sustainable tourism routes, preserving maritime heritage, and improving coastal tourism management.
AWESDI is one of the flagship projects within the blue and green environment theme, directly supporting the deployment of wave energy technologies and contributing to a cleaner, more sustainable Atlantic region.
For more information on the Atlantic Area Programme's Third Call, visit:
https://www.atlanticarea.eu/news-events/news/the-monitoring-committee-has-approved-24-projects-under-the-third-call-for-proposals
About Eco Wave Power Global AB (publ)
Eco Wave Power is a leading onshore wave energy company revolutionizing clean energy with its patented, smart, and cost-efficient technology that converts ocean and sea waves into sustainable electricity.
Dedicated to combating climate change, Eco Wave Power operates the first grid-connected wave energy project in Israel, co-funded by EDF Renewables IL and the Israeli Energy Ministry, which recognized the technology as a "Pioneering Technology."
Expanding globally, Eco Wave Power is preparing to install projects at the Port of Los Angeles, Taiwan, and Portugal, adding to its impressive project pipeline totalling 404.7 MW.
The company has received support from prestigious institutions such as the European Union Regional Development Fund, Innovate UK, and the Horizon 2020 program, and was honoured with the United Nations' Global Climate Action Award.
Eco Wave Power's American Depositary Shares (WAVE) are traded on the Nasdaq Capital Market. Learn more at www.ecowavepower.com.
Information on, or accessible through, the websites mentioned above does not form part of this press release.
For more information, please contact the company at: info@ecowavepower.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, the Company is using forward-looking statements in this press release when it discusses helping accelerate the adoption of sustainable wave energy and further demonstrating the environmental and economic potential of the Company's technology and when it discusses the Company's preparation for its first megawatt-scale installation in Portugal. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will", or variations of such words, and similar references to future periods. These forward-looking statements and their implications are neither historical facts nor assurances of future performance and are based on the current expectations of the management of Eco Wave Power and are subject to a number of factors, uncertainties and changes in circumstances that are difficult to predict and may be outside of Eco Wave Power's control that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading "Risk Factors" in Eco Wave Power's Annual Report on Form 20-F for the fiscal year ended December 31, 2024 filed with the SEC on March 3, 2025, which is available on the on the SEC's website, www.sec.gov, and other documents filed or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. References and links to websites have been provided as a convenience and the information contained on such websites is not incorporated by reference into this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258400
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