Inna Braverman, CEO of Eco Wave Power, Conducts Site Visit at Port Adriano in Mallorca to Promote its First Wave Energy Project in Spain
During her visit, Braverman met with Antonio Zaforteza, CEO of OCIBAR (the company that owns and operates Port Adriano), and the Port engineering team to tour and discuss the logistics and implementation plan for the project. The Parties have agreed that the project will commence with a detailed feasibility study and project licensing, which the parties aspire to secure by the end of 2022.
Upon completion of such steps, Eco Wave Power will move forward to the detailed project planning phase to be followed by actual construction. The project's construction timeline, from the moment that planning is fully completed, is expected to be between 18 to 24 months.
Eco Wave Power's floaters will directly connect to the 500-meter breakwater at Port Adriano and to the nearby substations of the port.
The power plant is planned to be constructed and commissioned in two stages:
- the first stage is the construction of a plant of up to 1MW; and
- the second stage involves the construction, operation, and maintenance of the remaining capacity of the plant (2 MWs).
Port Adriano will have a right of first refusal to invest partially or fully in both stages of the project, and Eco Wave Power will have the right to combine the two stages of the project and execute the whole 2MW from the start.
"Eco Wave Power is proud to be a catalyst in
In
"Port Adriano has a goal of being in the forefront of innovation, while contributing its part for the fight against climate change. As a port that operates on the island of Mallorca, wave energy simply makes sense. We have the breakwater for the project and the necessary substations in proximity to the breakwater to enable an easy and efficient construction and connection to the grid," said Zaforteza, whose company, OCIBAR, owns and operates Port Adriano. "We're proud to be the future home of the first Eco Wave Power project in
The 2MW project is expected to operate for an initial period of 20 years at Port Adriano. Eco Wave Power has additional near-future projects planned in
About
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 the ocean and sea waves.
Eco Wave Power is recognized as a "Pioneering Technology" by the
Eco Wave Power's common shares (ECOWVE) are traded on Nasdaq First North and its ADSs (WAVE) are traded on the Nasdaq Capital Market. For more information, visit: 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:
+97235094017
For additional investor/media inquiries, please contact:
Investor Contact:
FNK IR
+1.646.809.2183
Media Inquiries:
+1.412.445.7719
About OCIBAR/Port Adriano
Port Adriano is a marina belonging to Ocibar, a Spanish company specialized in the construction and management of marinas and refit areas. Ocibar operates a network of marinas in four strategic locations in the Mediterranean: Port Tarraco (
Situated in a privileged setting in the south-west of the bay of
Read more about Port Adriano at: www.portadriano.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
