Inna Braverman, Chief Executive Officer of Eco Wave Power Global, a leading, publicly traded onshore wave energy company, traveled to Greece for an official site visit of the Heraklion breakwater in Crete, which is currently being analyzed for a potential 2MW wave energy power station.

During the visit, the representatives from Eco Wave Power and Rogan Associates S.A. inspected the breakwater at the Port of Heraklion (“Port”), from both the shore and the seaside, and held meetings with the managing director at Heraklion Port Authority A.E., Mr. Minas Papadakis, and other port representatives, to provide updates regarding the milestones achieved so far in the planning of the project.

The next steps of the project will be to conduct further studies and analyses of the site, with Rogan Associates S.A. focusing on the civil engineering and pricing for a 2 MW installation, and Eco Wave Power working on the detailed project design.

During a joint interview of Ms. Braverman and Mr. Papadakis with CRETA– the official news channel of Crete – Mr. Papadakis described the prospective installation of a 2 MW power station at the Port as an integral component of the Port’s sustainability initiatives, aimed at mitigating port emissions and fostering a cleaner operational environment. Mr. Papadakis conveyed his excitement about the possibility of the Port of Heraklion being home to pioneering wave energy technology and also expressed his satisfaction with the progress that both parties have made, emphasizing the transformative impact that the implementation of wave energy at the Port would have on Crete and other coastal communities throughout Greece.

“We are encouraged by the progress that Eco Wave Power and Rogan Associates S.A. have made in their efforts to bring wave energy to the Port,” said Mr. Papadakis. “The successful implementation of this project would not only contribute to the sustainable development of Crete but would also serve as a beacon of innovation for coastal communities across Greece, showcasing the potential of renewable energy sources.”

We are pleased with the progress and collaboration with Eco Wave Power in bringing another source of renewable energy to Greece,” said Dr. Christos D. Solomonidis, chairman of the board of directors and partner of Rogan Associates S.A. “We believe that the Port will be a pioneering location for Eco Wave Power’s innovative technology and we are excited that our potential project could provide a blueprint for ports around the world to drastically reduce their emissions and provide an untapped source of clean, renewable energy to future beneficiaries.”

In April 2023, Eco Wave Power entered into an agreement with Rogan Associates S.A. to bring Eco Wave Power’s innovative wave energy technology design to Greece for the first time in the country’s history. Rogan Associates S.A., considered one of Southeast Europe’s leading consulting engineering firms in port & waterfront development, has over 45 years of experience in marine-related projects, including coastal engineering, port operation and management, maritime and harbor works, and urban analysis and planning both regionally and internationally.

According to the collaboration agreement, Rogan Associates S.A. is reinforcing the existing breakwater and planning the potential extension of the breakwater. In addition to the completion of the wave energy production analysis, Eco Wave Power will custom-design its wave energy technology to retrofit the existing breakwater at the Port.

This work conducted by the parties is funded as part of a grant received by Rogan Associates S.A. 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 and 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.