Eco Wave Power has been granted funding from the European Union (EU) for its new wave energy power station in Jaffa Port, Israel. The grant, known as GREENinMED, is part of the ENI CBC Mediterranean Sea Basin Programme and aims to promote clean energy sources and educate the public on their importance.

The grant, managed by a consortium consisting of organizations from Spain, France, and Israel, including the Official Chamber of Commerce, Industry, Services, and Navigation of Spain, the Arava Institute for Environmental Studies, the Kinneret Academic College on the Sea of Galilee, Capenergies, and the Israel Water Association, will support Eco Wave Power's project in building knowledge-sharing features at their latest power station.

Eco Wave Power's wave energy power station at the Port of Jaffa in Israel was selected as a grant recipient by the Kinneret Academic College. The project aims to introduce educational and knowledge-sharing elements to the power station, promoting the adoption of eco-innovative products for the tourism industry in Israel.

The funding received from the grant will be utilized by Eco Wave Power to create a unique knowledge sharing experience for both the local population and tourists worldwide. This initiative will not only make the EDF EWP One wave energy power station an attractive tourist destination at the Port of Jaffa but also showcase Eco Wave Power as a shining example of Israeli innovation.

The GREENinMED grant strengthens the ongoing collaboration between Eco Wave Power and EU funding programs and reinforces the company's focus on the European market. Eco Wave Power previously received co-funding from the European Regional Development Fund for its historic station in Gibraltar and a grant from the Horizon2020 phase A-EU funding program. Furthermore, the company is currently involved in the Iliad consortium, which received a 17 million Euro grant from the EU.

“We are grateful for the continuous support from the EU, as they continue to prioritize clean energy and consider sustainability in their funding,” said Inna Braverman, Founder and Chief Executive Officer of Eco Wave Power. “We believe that our wave energy technology can not only create clean electricity for the local population, but also transform the entire community by creating new workplaces and jobs, as well as educate the local community and foreign visitors on the power and importance of sustainable energy sources. This is a true win-win for Israel.”

“Eco Wave Power’s mission and technology align well with the European Union’s vision to create a new way of generating renewable energy,” added Prof. Ram Shpiner from the Kinneret Academic College. “As a college focusing on water engineering and environmental sustainability,  we believe that companies like Eco Wave Power will help the EU meet its ambitious goals to address the climate crisis.”