Eco Wave Power, All-Ways Metal Sign Wave Power Tech Manufacturing Deal
Eco Wave Power, an onshore wave energy technology company, announced the signing of a manufacturing agreement with All-Ways Metal, for the production of floaters for its wave energy project in the Port of Los Angeles. This marks a milestone in the development of Eco Wave Power's first-ever U.S. proof-of-concept installation.The floaters, which form a key component of Eco Wave Power's proprietary wave energy conversion technology, will be manufactured locally by All-Ways Metal and are scheduled for delivery within 70 days. Once completed, the floaters will be installed and connected to the
Israeli Firm Gets Final Permit for US Wave Energy Demo
Eco Wave Power, an onshore wave energy technology company, has received a final permit for the construction and demonstration of its wave energy technology in San Pedro, California.The Revocable Permit 25-05 by the Port of Los Angeles was executed on behalf of the Executive Director, Eugene D. Seroka on March 27, 2025.This permit is the final approval required for Eco Wave Power to start construction of its pilot project, following it receiving a federal Nationwide Permit (NWP) 52 for Water-Based Renewable Energy Generation Pilot Projects granted by the U.S. Army Corps of Engineers in November 2024.
OPT to Deliver AI-Driven PowerBuoy to US Customer
Ocean Power Technologies (OPT) has secured a contract for an AI-capable PowerBuoy for an immediate delivery in the United States.This contract enables the future integration of surface and subsea sensors, and the buoy will be deployed on the East Coast.Due to the confidential nature of the contract, further details have not been disclosed."In addition to the material growth of our WAM-V business, we are excited to continue growing our PowerBuoy business. We believe that providing persistent and resident monitoring offers a lot of opportunities for our solutions in research and security applications
CorPower Ocean, NTNU Join Forces for AI-Based Wave Energy Project
CorPower Ocean has secured financial backing from Vinnova, Sweden’s national innovation agency, for a project exploring the adoption of artificial intelligence (AI) for improved performance and control in wave energy technology.The WACE project, short for Wave energy AI-based Control Enhancement, is now underway and is set to run until November 2025.CorPower Ocean is being supported by project partner Norwegian University of Science and Technology (NTNU).A model-based design framework will be used in the WACE project. After establishing requirements for the closed-loop control system, an AI-based
Wavepiston Snags New Investors
Wavepiston, a developer of turnkey wave energy technology, shared that two professional investors have invested about $980,000 in Wavepiston via the Dutch joint venture company, The Blue Line B.V. The Blue Line is an initiative from investors Connect the Drops, a Dutch investment fund with a focus on the water sector, and Unknown Group, a Dutch venture capital fund that, among other areas, focuses on investments in the energy transition. The investment marks a milestone in Wavepiston’s mission to revolutionize renewable energy by harnessing the immense potential of ocean waves. With this
CorPower Gets Funding for Wave Energy Scale-Up
CorPower Ocean was selected as a winner of the European Innovation Council (EIC) Accelerator program and has been awarded €2.5 million in grant and a pre-commitment of €15 million in equity investment, totaling €17.5 million, to accelerate the commercialization of its wave energy tech. This funding is part of the 2024 EIC Challenge “Renewable energy resources and their whole value chain.” The EIC Accelerator supports high-impact innovations and scaleups across Europe. In its most competitive call to date, CorPower Ocean emerged as one of 71 companies selected
Eco Wave Finds Partner for Wave Energy Project in India
Eco Wave Power Global has signed a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation Limited (BPCL), marking a first step for the introduction of wave energy into India’s renewable energy strategy.The collaboration aligns with India’s Ministry of New and Renewable Energy’s (MNRE) recognition of ocean energy as a promising renewable resource, with an estimated 40,000 MW of untapped potential along the country’s coastline.Under this MoU, Eco Wave Power and BPCL will jointly develop wave energy projects across India, beginning with a feasibility study.The first
Swedish Firm Eyes Multi-Megawatt Wave Energy Farm Off Grenada
Swedish company Seabased has signed a three-party memorandum of understanding (MoU) with the Government of Grenada and SIDS DOCK to establish Grenada’s first utility-scale wave energy park.The agreement outlines a phased project that will begin with a 2 MW pilot to showcase the potential of wave energy in driving economic and environmental resilience in Small Island Developing States (SIDS).The project’s long-term goal is to scale up the pilot to a minimum of 10 MW, creating a model for island economies seeking reliable, clean energy alternatives to fossil fuelsThis MoU comes as part of
Swedish Firm Lines Up $35M Investment in Its Wave Energy Tech
CorPower Ocean has secured $35 million (€32 million) funding in an investment round set up to support the commercial roll out of its wave energy technology.The Series B1 investment round was led by NordicNinja, the largest Japanese backed VC in Europe, SEB Greentech, the cleantech investment arm of the SEB bank, and EIT InnoEnergy in consortium with Santander Alternative Investments, Iberis Capital and Cisco Investments.With the latest investment, CorPower Ocean has so far secured $103 million (€95 million) in funding from private and public investors and has demonstrated four generations of
February 2025
