Swedish-Israeli company Eco Wave Power has entered an agreement with Shell for the development of first-ever United States’ wave energy pilot station at AltaSea’s Premises in the Port of LA.
Though Eco Wave Power did not specify the name of the ‘major energy company’ it made an agreement with, the company’s SEC filings have listed Shell as the other party.
The deal for the implementation of Eco Wave Power’s first project in the United States was signed on January 3, 2024, the documents reveal.
“At the Port of Los Angeles, we have signed a strategic co-investment agreement with Shell International Exploration and Production Inc., or Shell, for the implementation of our first U.S-based project, while we are also moving forward with the licensing process.
“We have submitted our comprehensive project engineering plans to the port authorities and have formally requested the final required licenses from both the Port of Los Angeles and the United States Army Corps of Engineers. As soon as licenses are received, we expect a short implementation time of approximately six months for our first U.S. project until construction begins,” it is stated in the company's SEC filings.
Earlier in the week, Eco Wave Power informed that it has conducted a comprehensive feasibility study, with the same ‘major energy company’, now revealed to be Shell, aimed at identifying the top locations for commercial onshore wave energy stations along the U.S. coastline and worldwide.
The three-month, in-depth feasibility study which now has been completed, has shown favorable conditions for clean energy production in multiple locations in the U.S. and globally.
In the study, Eco Wave Power has pointed out to at least 77 sites in the U.S. which may be compatible for the implementation of its proprietary wave energy technology.
“Harnessing the power of ocean waves is a crucial step in reshaping the renewable energy landscape to meet the net-zero goals we must reach if we want to save our planet. I am thrilled to work with an industry leader to bring wave energy to life in the United States. This underscores our commitment to sustainable innovation, and signifies a pivotal moment as we move towards a cleaner, greener future,” said Inna Braverman, the Founder and CEO of Eco Wave Power.
The company has installed power stations in multiple locations. In August 2023, Eco Wave Power officially connected its landmark EWP-EDF One power station in Tel Aviv to the grid – the first-time wave energy has provided power to Israel’s national energy grid.