en.Wedoany.com Reported - Israel's Ministry of Energy and Infrastructure, in collaboration with the Israel Innovation Authority, has announced a new plan to invest 6 million new shekels (approximately $2 million) to advance next-generation blue-tech energy technologies. Eco Wave Power Global AB (NASDAQ: WAVE) has welcomed the initiative. The plan aims to support wave energy generation, offshore energy systems, artificial intelligence-driven ocean energy management, and related solutions.
The company believes this move indicates official recognition of the strategic importance of marine renewable energy and that steps are being taken to strengthen Israel's position in blue-tech innovation. Eco Wave Power currently operates Israel's first and only grid-connected wave energy power station, located at the Port of Jaffa. The project supplies electricity to the national grid under a power purchase agreement with the Israel Electric Corporation and has been recognized as a "pioneering technology" by the Chief Scientist of the Ministry of Energy. Since the beginning of 2025, the station has maintained zero downtime operations, providing operational data and demonstrating the feasibility of converting coastal infrastructure into clean energy assets.
Eco Wave Power's technology aligns closely with the goals of the new plan, particularly in the areas of renewable energy generation and smart energy management. The company has integrated artificial intelligence and digital twin technologies into its wave energy systems to optimize energy production, enable predictive maintenance, and facilitate the future integration of marine renewable energy with AI-driven infrastructure.
During the official inauguration of the Jaffa Port power station in December 2024, Israel's Minister of Energy and Infrastructure, Eli Cohen, stated that the facility is Israel's first project to harness wave energy for electricity generation. It was advanced with the support of the Ministry's Chief Scientist, aiming to increase renewable energy output, reduce air pollution, and enhance national energy security.
Prior to the announcement of the new plan, Eco Wave Power was included in the final SB 605 advisory report for the state of California, USA. The report references the company's wave energy pilot project at the Port of Los Angeles as part of California's assessment of the development and commercialization pathways for marine renewable energy. The company views this as international recognition of the role of wave energy and an indication of growing momentum in the global development of marine renewable energy technologies.
Eco Wave Power's founder and CEO, Inna Braverman, stated that the company highly commends the relevant ministries and agencies for launching this initiative. She noted that the grid-connected station at the Port of Jaffa has already proven the viability of marine renewable energy in Israel and expressed anticipation for more blue-tech innovations to emerge. She also pointed out that the growing demand for clean electricity driven by artificial intelligence means marine renewable energy can become a significant component of the future energy mix. The combination of wave energy with AI optimization and digital twin technologies will create opportunities for building resilient and intelligent coastal energy infrastructure.
Eco Wave Power believes that the new government initiative is a significant milestone for Israel's blue-tech ecosystem and is expected to accelerate innovation, commercialization, and international cooperation in marine renewable energy technologies.
