- Eco Wave Power (WAVE, Financial) partners with All-Ways Metal, Inc. to manufacture floaters for its inaugural U.S. wave energy project.
- The project, co-developed with Shell Marine Renewable Energy, will be deployed in the Port of Los Angeles.
- All necessary regulatory approvals have been secured, and the installation is set to begin within 70 days.
Eco Wave Power Global AB (NASDAQ: WAVE) has announced a significant step forward in its U.S. operations with the signing of a manufacturing agreement with All-Ways Metal, Inc. Based in California, this woman-owned company will produce the essential floaters for Eco Wave Power’s first U.S. wave energy project at the Port of Los Angeles.
The floaters, crucial for converting wave motion into electricity, are expected to be delivered within 70 days. Upon completion, they will be installed at the Municipal Pier One, marking the commencement of Eco Wave Power's landmark project.
This initiative, developed in collaboration with Shell Marine Renewable Energy (Shell MRE), has already secured final approval from the Port of Los Angeles and a federal permit from the U.S. Army Corps of Engineers as of November 2024. This regulatory clearance paves the way for the initiation of this pioneering proof-of-concept installation.
The project serves as a scalable model for wave energy across the U.S. coastline, reflecting a synergy of public and private investment in renewable energy infrastructure. By leveraging local manufacturing, Eco Wave Power aims to expedite project timelines and create local jobs, reinforcing its commitment to sustainable development.
The collaboration with a reputable partner like Shell MRE not only lends credibility but also opens up potential for wider deployment through Shell’s extensive energy network. The pilot project, if successful, will provide vital operational data and performance metrics necessary for attracting further deployments and investments in the renewable energy sector.
