Eco Wave Power Reaches Key Milestone in Portuguese Wave Energy Project, Paving the Way for a 2026 Launch and Global Expansion

The project is a part of a 20 MW Concession Agreement entered into with Administração dos Portos do Douro, Leixões e Viana do Castelo, S.A. (APDL), which is located in the city of Porto. It will feature Eco Wave Power’s proprietary wave energy technology and includes a first-of-its-kind underwater wave energy museum and education centre, set to be housed in “The Gallery” – the room underneath the breakwater where the Company’s energy conversion equipment will be installed. The innovative project aligns with Portugal’s renewable energy goals, aiming to generate 85% of its electricity from renewable sources by 2030.

The collaboration with MOQ will focus on delivering the final civil engineering design and detailed load calculations for the floaters, which are key components of Eco Wave Power’s innovative wave energy conversion system. These calculations and designs will be ensuring the safe and efficient installation of the floaters on the marine structure at the project site. This phase of work is scheduled for completion by February 2025.

Upon completion of MOQ’s scope of work, Eco Wave Power will submit the full execution project, including all finalized engineering and technical specifications, to APDL. The approval of the execution project by APDL will mark the transition to the next phase of the project: the production of the floaters and accompanying structural components.

The first MW-scale wave energy project in Porto will demonstrate significant energy production from ocean waves and serve as a critical step towards the commercialization of Eco Wave Power’s technology globally. In addition to its environmental impact, the project is expected to reduce the port’s carbon footprint, create new jobs, and contribute to Portugal’s innovative renewable energy industry.

Eco Wave Power is also advancing additional projects globally, including upcoming initiatives in Taiwan and the Port of Los Angeles. Moreover, the Company plans to announce new projects in additional countries, further expanding its footprint in the wave energy sector and reinforcing its position as a leader in renewable energy innovation.

Inna Braverman, CEO of Eco Wave Power, commented:

“This collaboration with MOQ Engineering represents significant progress in the development of our Portuguese project. Their expertise in engineering and design ensures that we are meeting the highest safety and operational standards. With their work on track for completion this February, we are steadily moving closer to the production phase and the realization of our goal to make wave energy an integral part of Portugal’s renewable energy mix.”

Manuel Cardoso, Partner of MOQ Engineering, commented:

“We are honored to partner with Eco Wave Power on this innovative wave energy project. At MOQ, we pride ourselves on delivering engineering solutions that align with the highest standards of safety, efficiency, and sustainability. This project reflects our commitment to leveraging advanced technologies like building information modelling (BIM) and parametric design to optimize results while contributing to Portugal’s ambitious renewable energy goals. We are excited to play a part in showcasing the potential of wave energy as a reliable, sustainable power source and to help pave the way for global adoption of this groundbreaking technology.”