Eco Wave Power
The world is currently suffering from a global climate crisis. According to the World Health Organization (WHO), air pollution is characterised as “the world’s largest single environmental health risk.” According to the UN, fossil fuel-based energy use and production is the dominant contributor to climate change and air pollution—accounting for about 60% of global greenhouse gas emissions and environmental degradation. Wave energy is a vast and untapped renewable energy source that can supply twice the amount of electricity the world can produce now, according to the World Energy Council.
The implementation of wave energy and its commercialisation as an additional renewable energy source will have a critical impact on the world’s emissions by significantly reducing the pollution caused by the energy sector. In order to mitigate the effects of energy production on climate change.
EWP has developed a patented “smart” technology which utilizes simple hardware and smart software for optimal energy generation by using unique floater mechanisms to convert the potential energy available in our ocean and sea waves into electricity. The specially designed floaters utilize buoyancy force, changes in water level and flow, the ‘airlock’ effect, and the vertical movement of waves, to create an efficient energy conversion process. Specifically, the movement of the floaters compresses and decompresses hydraulic pistons pressurizing biodegradable hydraulic fluid. An accumulator then collects the pressurized fluid and generates a pressure of between 50 and 160 BAR (depending on the wave height). The accumulator then discharges the pressure rotating a hydraulic motor connected to a generator, which then converts the mechanical rotation into electricity. The system can begin producing electricity from wave heights as low as 50 cm, with the optimal waves for electricity production being between 1.5 and 3.5 meters.
Each part of the system is measured by sensors, as a result, at any time and in real-time all the information collected reaches a central control system. The control system continuously monitors the information received from the system and automatically optimizes the electricity production in order to ensure optimal and continuous power generation.
Eco Wave power EWP’s nearshore/onshore wave energy system, which utilizes existing marine infrastructure, has allowed the company to avoid difficulties faced by offshore wave energy companies.
The EWP technology is:
- Cost-Efficient: The EWP technology’s attractive construction and production prices are significantly lower than offshore competition, since the EWP installation and O&M activities do not require the use of ships, divers, underwater cabling and mooring.
- Reliable: Eco Wave Power’s technology is highly reliable, as most of the cost of the system is located on land, and only the floater mechanisms are located in the water. Therefore, the Eco Wave Power conversion unit is not subject to an aggressive marine environment.Furthermore, the storm protection mechanism prevents damages to the floaters during storms.
- Fully insurable: The reduced CAPEX and high reliability associated with the Eco Wave Power system allowed EWP to receive insurance for its power stations. The Company’s installations in Gibraltar and Israel are insured by notable insurance companies.
- Environmentally friendly: The Eco Wave Power system is environmentally friendly, as it does not connect to the ocean floor, and therefore does not create any new presence on the ocean floor.
According to the World Energy Council, wave energy has the potential to produce twice the amount of electricity the world produces now. In addition, with more than half of the world’s population living within 100 kilometres of the coastline, the need for wave energy is undeniable. Today, clean electricity is a fundamental necessity worldwide.
Part of this need is already being met by Eco Wave Power’s wave energy project in Gibraltar. The station is currently producing clean electricity for the daily use of its citizens, and is set to expand to provide up to 15% of Gibraltar’s energy needs. Further expansion is planned in additional locations around the world, which will immensely impact the world’s energy mix, and will be a key facilitator in the systematic reduction of energy related pollution.
Eco Wave Power supports UN Sustainable Development Goal (SDG) 7: Affordable and Clean Energy through the development and implementation of it’s globally patented and innovative technology for the generation of clean electricity from waves. Our oceans and seas offer a vast source of renewable energy, and EWP has made a significant scientific breakthrough in the development of wave energy by operating the only grid-connected wave energy array in the world (in Gibraltar).
EWP already holds a projects pipeline of 190MW, and through the commercial implementation of its projects, EWP will become a key facilitator in the expansion of global energy supply in developed and developing nations, and in the reduction of pollution from traditional energy generation methods. EWP supports goal 9: Industry, Innovation, and Infrastructure through its innovative wave energy technology which utilizes floaters affixed to pre-existing marine structures such as piers, breakwaters, and jetties.
The simple technology can be installed quickly to convert existing, often otherwise unused marine structures towards clean energy generation for ports, cities, and countries. The development and commercialisation of wave energy is a milestone towards a greener and more prosperous planet, due to the following reasons:
- According to the IEA wave energy can produce twice the amount of electricity the world pro-duces today.
- 1.3 billion people lack access to electricity, while almost half of the world’s population lives within 100KM of a coast.
- In many locations, wave energy can be produced around the clock.
Eco Wave Power supports goal 11: Sustainable Cities and Communities by providing a sustainable energy production option for cities and communities. EWP’s technology generates clean, green energy, which reduces the adverse per capita environmental impact of cities. Specifically, it improves air quality and reduces potential fossil fuel energy related pollution, helping cities and communities reach goals of resource efficiency, and mitigation and adaptation to climate change.
Eco Wave Power supports goal 12: Responsible Consumption and Production, by providing governments with a clean and reliable energy source. By implementing EWP’s clean technology, countries can practice efficient use of an abundant, although widely untapped natural resource, sea or ocean waves. Incorporating more renewable energy resources to the energy mix reduces dependence on fossil fuels to meet energy needs.
Eco Wave Power supports goal 13: Climate Action by providing a technological solution to mitigate a severe cause of pollution. Today, there is a significant need to secure new and clean methods of energy production or else humanity runs the risk of irreversibly damaging our planet. Implementation of EWP’s technology worldwide facilitates strategic reduction of a respective region’s contribution to climate change. Introduction of a clean energy source into the grid is a positive example of national policy, strategies, and planning towards international climate goals.
Eco Wave Power recognizes the importance of the protection of its intellectual property, and therefore consults top experts in the field and invests significant resources in the maintenance of its global intellectual property portfolio. EWP holds 13 Israeli Patents and Patents Pending as well as an International PCT.
What sector is the business involved in
Energy , Other
List of countries the product is present outside the base country
List of regions the company could be targeting
- East Asia
- South America
- North America
Number of employees
Accessing market opportunity, Access and introductions to the right people, Government support, Capital investment