The collaboration agreement between the two companies is for the Design of Eco Wave Power’s Innovative wave energy technology for the Port of Heraklion, Greece

Eco Wave Power Global AB (publ) (Nasdaq Capital Market: WAVE) (“Eco Wave Power” or the “Company”), is pleased to announce that it has entered into an agreement for the design of the Company’s pioneering technology in the Port of Heraklion, in Crete, Greece, with Rogan Associates SA (“Rogan Associates”).

Rogan Associates – a leading consulting engineering firm in port and waterfront development in Southeast Europe which was founded in 1977 – has vast experience in marine-related projects and in sea transportation, including port operation and management, coastal engineering, maritime and harbour works, regional and urban analysis and planning, as well as port systems development at regional, national and international level.

According to the terms of the collaboration agreement between the parties, Rogan Associates will design the reinforcement of the existing Heraklion Port breakwater and plan the potential extension of the breakwater, while Eco Wave Power will perform a wave energy production analysis and forecast and will be responsible for the design of its pioneering wave energy technology for the breakwater at the Port of Heraklion.

This work will be funded as part of a grant received by Rogan Associates and Heraklion Port Authority from the European Union Climate, Infrastructure, and Environment Executive Agency.

This grant and the agreement mark a long-term productive collaboration between Eco Wave Power and the different European Union (EU) funding programs, as well as reinforces Eco Wave Power’s long-standing focus on the European market. In the past, the Company has co-funded its historic Gibraltar project with funding from the European Regional Development Fund and also received a grant from the Horizon2020 phase A EU funding program. Eco Wave Power is also currently taking part in the Iliad consortium, which was awarded €17 million by the EU.

The agreement was signed after an official visit of representatives from Rogan Associates and Heraklion Port Authority to Eco Wave Power’s newest wave energy project (the EWP-EDF One project) in the Port of Jaffa in Israel. The EWP-EDF One project at the Port of Jaffa marks the first time that Israel’s electrical grid will receive power generated by the waves.

“It was our absolute pleasure to host the representatives from Rogan Associates and Heraklion Port Authority at our EWP-EDF One wave energy power station at the Port of Jaffa, as a first step towards our exciting collaboration in Greece,” said Inna Braverman, Founder and Chief Executive Officer of Eco Wave Power. “This collaboration is an exciting and encouraging sign that Greece is ready to embrace the untapped potential of wave energy right on their coast.”

“Our collaboration with Eco Wave Power further accelerates our strategy to expand our portfolio with innovative, renewable energy technologies,” said Dr. Christos D. Solomonidis, Chairman of the Board of Directors and Partner of Rogan Associates.  “We are committed to applying disruptive marine-related technologies in the Greek market, and there is no better way to show that than collaborating with Eco Wave Power’s game-changing wave energy technology. Application of this technology to the Port of Heraklion, in the most innovative way possible, is the first step towards this direction.”

Mr. Emmanouil Tsiplostefanakis, Director of Technical Works and Environment from Heraklion Port Authority, said, “What is most impressive about Eco Wave Power’s technology is its simplicity. The design is modular, scalable, and efficient, making it an easy match for most – if not every – port and breakwater. Wave energy should become a more significant part of Greece’s renewable energy mix, and this collaboration between Eco Wave Power and Rogan Associates is a great first step in making that vision a reality.”