Swedish-Israeli Eco Wave Power and the U.S.-based Ocean Power Technologies have set up a collaboration to use their complementary technologies and skills to accelerate wave energy projects, pursuant to a previously signed agreement.
The parties will work together on several fronts, including knowledge sharing, joint grant submissions, and collaborative assistance in entry to new markets.
Additionally, joint solutions can be developed using each company’s respective offshore and onshore technologies and leveraging OPT’s offshore engineering and newly acquired robotics capabilities in Eco Wave Power’s applicable projects.
OPT believes its knowledge and understanding of the offshore environment combined with Eco Wave Power’s track record of nearshore wave energy conversion (WEC) installations present opportunities to unlock the power in waves.
“This is an exciting time for the wave energy industry, when two complementary offshore and onshore technologies decide to work together by combining their resources and expertise to enhance the global implementation of projects utilizing their technologies,” said Inna Braverman , founder and CEO of Eco Wave Power.
“I believe this collaboration will open the door to cross-industry knowledge sharing, as we understand that we are working towards the same goal. Our goal is to create positive impact by adding wave energy to the global renewable energy mix to address climate change.”