Renewables

Eco Wave Power Visits New Jersey Potential First Project Sites

Eco Wave Power Global AB today announced that it is advancing its efforts to bring wave energy to the State of New Jersey.

During Eco Wave Power’s official bell ringing ceremony, which took place on Nasdaq’s Stock Market on January 20, 2022, Robert J. Karabinchak, who serves in the New Jersey General Assembly for the 18th Legislative District, shared his vision for supporting legislation initiative to promote wave energy in New Jersey.

Assemblyman Karabinchak stated that he plans to introduce new legislation initiative in this session to bolster wave energy as the next, up-and-coming renewable energy source for the state. Recognizing this technology’s incredible potential, New Jersey can aim to include wave energy in its Energy Master Plan and develop a streamlined process for its deployment along the coast. This action will help New Jersey to become the first U.S. state or territory to have a commercial wave energy proof of concept.

In light of the aforementioned plans, Eco Wave Power is pleased to announce that on Friday, March 11, 2022, Assemblyman Karabinchak, alongside Eco Wave Power’s Founder and Chief Executive Officer, Inna Braverman, visited the Steel Pier and additional marine structures in the State to explore potential sites for a first-of-its-kind wave energy pilot deployment in the state of New Jersey.

"The harsh impacts and costly realities of climate change are all too familiar in New Jersey, but innovative renewable energy solutions, such as wave energy, will help mitigate those challenges. We will be delivering on the promise of a cleaner, greener path forward that will benefit our state for generations to come. We believe that wave energy can create hundreds of good-paying jobs, help spur economic development across the region, and continue putting New Jersey on the path toward a 100% clean energy future,” stated Assemblyman Karabinchak.

The site visit is a preparatory stage for the upcoming discussion regarding the promotion of wave energy technologies, which will be held at 10:00 a.m. EST on March 17, 2022, by the Assembly Special Committee on Infrastructure and Natural Resources of New Jersey (the “Committee”), where Eco Wave Power and two additional marine energy companies will present their vision for generating clean electricity from the waves in the state. Attendance will also include academics from New Jersey research institutes (Rutgers, the State University of New Jersey and Stevens Institute of Technology), environmental advocates, and other interested parties.

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