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Eco Wave Power Signs a Wave Energy Power Station Sale Agreement with Taiwanese Lian Tat for its First Onshore Wave Energy Project in Asia

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The Project is Expected to Commence with a Landmark 100KW Pilot Project, and Gradually Expand to 20MW, Followed by an Ambitious Target of 400MW of Commercial Capacity on the Taiwanese Coastline.

TEL AVIV, Israel, Oct. 7, 2024 /PRNewswire/ — Eco Wave Power Global AB (publ) (Nasdaq: WAVE) (“Eco Wave Power” or the “Company”), a leading, publicly traded onshore wave energy technology company announced today that it signed an agreement for the sale of the first wave energy generation unit with I-Ke International Ocean Energy Co. (“I-Ke”), a subsidiary of Lian Tat Company (“Lian Tat“), a leading maritime engineering company, with the purpose of bringing Eco Wave Power’s wave energy technology to Taiwan.

According to the terms of the agreement, I-Ke will be providing the full financing for the 100KW pilot project, by buying a turnkey conversion unit from Eco Wave Power. This conversion unit for the 100KW wave energy power station includes all the hydraulic and electric conversion parts, coupled with the smart control and automation system.

I-Ke has identified the location for the first pilot station of 100KW installed capacity on the east coast of Taiwan (along with an additional 83 potentially suitable sites) and it is responsible for obtaining permits, land use consents and any licensing and approvals necessary to complete the installation of the planned wave energy projects. Moreover, I-Ke will locally produce the floaters, hydraulic cylinders and all other components of the technology, which are located on the seaside of the marine structure. I-Ke believes this will position Taiwan as the hub for later stage expansion into other Asia Pacific regions.

This newly signed agreement, which is based on a memorandum of understanding (MOU) that was signed between Lian Tat and Eco Wave Power in June 2023, will leverage Eco Wave Power’s wave energy conversion technology, which has been deployed in several locations worldwide (such as Gibraltar, Israel, and soon in Los Angeles and Portugal), to maximize energy extraction and optimize the project’s performance for the Taiwanese coastline.

According to a press statement made by I-Ke, the first stage of the project will be the development of a 20 MW wave energy power station in Taiwan, beginning with a 100KW pilot and expanding in stages to a total targeted installed commercial capacity of 400 MW.

To announce Eco Wave Power’s first official step into the Asian market, representatives from Eco Wave Power, Lian Tat and I-Ke held a joint press conference in Taipei, Taiwan, on Friday, the 4th of October 2024, where CY Huang, the Chairman of Lian Tat stated:

Taiwan is an island country with a coastline of 1,566 kilometres, with high potential for the installation of marine energy. The construction of Eco Wave Power’s project is relatively easy, and I believe that it will be a significant stepping stone for the development of green electricity in Taiwan. I also think that this will allow Taiwan to break away from existing renewable energy restrictions and develop in the direction of diversified renewable energy. As a result, we have already completed the site selection process and once the 100KW demonstration site is built, with positive results, our target is to expand it to 20MW, and we will continue to push up to more than 400MW of wave energy installed capacity.”

Mr. Huang added that the government’s renewable energy policy and installation capacity are getting more ambitious year by year, which is evident by the setting of a marine energy wholesale purchase rate of TWD 7.32 (equivalent to USD 0.23), and that he believes that through this innovative development of ocean energy, the domestic energy industry will be further upgraded and transformed.

Inna Braverman, Founder and CEO of Eco Wave Power stated: “I would like to thank CY and his companies–Lian Tat and I-Ke for the warm hospitality. I am certain that Eco Wave Power’s official visit in Taiwan and the signing of this official collaboration agreement between our companies is the beginning of a true friendship and a productive business collaboration. Taiwan is extremely suitable for the implementation of Eco Wave Power’s pioneering technology, as it has more than 1500 km of coastline, coupled with significant wave heights and very impressive local technological skills. Due to Taiwan’s impressive technological abilities, we plan to produce our floaters locally, thereby creating not only clean electricity from the waves, but also new wave-energy related workplaces.”

“I believe that this new collaboration will not only be a win-win collaboration for both parties but will also serve as a pioneering step towards the implementation and adaptation of wave energy all over Asia, as this will be the first onshore wave energy array in the region. So let’s change the world together- One Wave at a Time!” added Ms. Braverman.

Mr. CY Huang, a respected leader in the maritime space, has long advocated for and helped to bring clean energy to Taiwan. Since being named the company’s chairman in 2016, Mr. Huang has led Lian Tat’s transformation into a renewable energy solutions provider. Lian Tat works to find renewable energy resources to help Taiwan achieve its clean energy goals and answer the maritime industry’s calls for decarbonization and lowering pollution levels. Mr. Huang, who also serves as president of investment banking firm FCC Partners, is one of the key leaders in the investment banking industry in Asia. In 2020, Mr. Huang spearheaded the launch of the Mediterranean and Asian Marine Alliance, which helps foster ocean-related research and solutions. The alliance seeks to connect with Israeli ocean research to improve Taiwan’s participation in maritime affairs globally.

About Lian Tat Company

Lian Tat Company (“LTC”) was established in March 12, 1959. Since its inception, it has been acting as a resource integrator by sourcing machinery tools and turnkey equipment from Europe and USA to assist the industrialization of local companies.

Since 1980, LTC expanded its business scope to source diesel engines for marine and power plant applications by associating with leading brands such as MAN, MTU, and Alstom. Its customers include the Taiwanese Navy, Customs, and Coast Guard, the Taiwan Power Company, shipping companies, such as Evergreen, and ferry owners and operators.

Establishing a full-fledged marine engine service workshop in 1994, LTC set a new milestone in its history. With establishment of the workshop, and a strong service team providing timely on-site and workshop service, LTC has created unparalleled sales and service records for the fleets of Taiwanese Navy and Coast Guard.

More recently, LTC has undergone a transformation and ventured into new industries, such as renewable energy and offshore wind power maritime engineering. Its objective is to synergize with the domestic maritime industry by integrating talent and resources, while also forging collaborative partnerships.

About I-Ke International Ocean Energy

I-Ke International Ocean Energy is a wholly owned subsidiary of Lian Tat Company. It benefits from the maritime expertise of its parent company and aims to introduce commercial wave power generation equipment domestically. Its mission is to promote clean and pollution-free green energy in Taiwan.

Chairman CY Huang of Lian Tat Company established I-Ke International Ocean Energy in 2023, and it specializes in the development, execution, construction, and operation of wave power projects in Taiwan. Last year, upon signing the MoU with Eco Wave Power, it immediately began evaluating wave power generation projects, negotiated the installation location as well as collected data on 83 to 100 other potential sites in Taiwan, including offshore islands.

About Eco Wave Power Global AB (publ)

Eco Wave Power is a leading onshore wave energy company that developed a patented, smart and cost-efficient technology for turning ocean and sea waves into green electricity.

Eco Wave Power’s mission is to assist in the fight against climate change by enabling commercial power production from the ocean and sea waves.

The Company owns and operates a grid connected wave energy project in Israel, with co-investment from EDF Renewables IL and the Israeli Energy Ministry, which recognized Eco Wave Power’s technology as “Pioneering Technology.” The Israeli wave energy project marks the first grid-connected wave energy system in Israel’s history.

Eco Wave Power will soon commence the installation of its third and fourth wave energy projects, in the Port of Los Angeles, and in Portugal. The Company also holds a total projects pipeline of 404.7MW.

Eco Wave Power received funding from the European Union Regional Development Fund, Innovate UK and the European Commission’s Horizon 2020 framework program and was honored with the “Global Climate Action Award” from the United Nations.

Eco Wave Power’s American Depositary Shares (WAVE) are traded on the Nasdaq Capital Market.

Read more about Eco Wave Power at www.ecowavepower.com

For more information, please contact the Company at:
info@ecowavepower.com
+97235094017

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, the Company is using forward-looking statements in this press release when it discusses I-Ke’s belief that this project will position Taiwan as the hub for later stage expansion into other Asia Pacific regions, that the newly signed agreement will leverage Eco Wave Power’s wave energy conversion technology, that Taiwan has a high potential for the installation of marine energy, that the construction of Eco Wave Power’s project is relatively easy, Lian Tat’s belief that it will be a significant stepping stone for the development of green electricity in Taiwan, that Taiwan will break away from existing renewable energy restrictions and develop in the direction of diversified renewable energy and that through this innovative development of ocean energy, its domestic energy industry will be further upgraded and transformed, the various stages of the project, Eco Wave Power’s belief that this new collaboration will not only be a win-win collaboration for both parties but will also serve as a pioneering step towards the implementation and adaptation of wave energy all over Asia, as this will be the first onshore wave energy array in the region. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will”, or variations of such words, and similar references to future periods. These forward-looking statements and their implications are neither historical facts nor assurances of future performance and are based on the current expectations of the management of Eco Wave Power and are subject to a number of factors, uncertainties and changes in circumstances that are difficult to predict and may be outside of Eco Wave Power’s control that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading “Risk Factors” in Eco Wave Power’s Annual Report on Form 20-F for the fiscal year ended December 31, 2023 filed with the SEC on March 28, 2024, which is available on the on the SEC’s website, www.sec.gov, and other documents filed or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. References and links to websites have been provided as a convenience and the information contained on such websites is not incorporated by reference into this press release.

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/ewpg-holding-ab–publ-/r/eco-wave-power-signs-a-wave-energy-power-station-sale-agreement-with-taiwanese-lian-tat-for-its-firs,c4047706

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SOURCE EWPG Holding AB (publ)

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CGTN America & CCTV UN: China Sci-Tech Innovation Gala showcases breakthroughs

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On December 30, 2024, China Media Group (CMG) debuted the “China Sci-Tech Innovation Gala,” a science and technology festival, featuring “new quality productive forces”.

WASHINGTON, Jan. 8, 2025 /PRNewswire-PRWeb/ — On December 30, 2024, China Media Group (CMG) debuted the “China Sci-Tech Innovation Gala,” a science and technology festival, featuring “new quality productive forces”.

CMG says it will plan more innovative programs to tell the stories of China’s scientific and technological innovation to the world.

The gala brings together the best innovations of the year and interprets the “inspiring soul” of science and technology in an imaginative way.

Featuring robotic bands, virtual hosts, drones, and breakthroughs in AI, brain-computer interfaces, and space exploration, the event brought innovation to life.

Click here for more about https://newsus.cgtn.com/news/2025-01-08/China-Sci-Tech-Innovation-Gala-showcases-breakthroughs-1zZ7oY2OTPW/p.html

FOR IMMEDIATE RELEASE. (This material is distributed by MediaLinks TV, LLC on behalf of CCTV. Additional information is available at the Department of Justice, Washington, D.C.)

Media Contact

Zeng Siwei, CGTN America, 1 2023931850, Distribution@cgtnamerica.com 

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SOURCE CGTN America

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Semiconductor In Military And Aerospace Market size to increase by USD 3.45 Billion between 2024 to 2029, Market Segmentation by Application, Product, Geography , Technavio

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NEW YORK, Jan. 8, 2025 /PRNewswire/ — The global semiconductor in military and aerospace market size is estimated to grow by USD 3.45 billion from 2025 to 2029, according to Technavio. The market is estimated to grow at a CAGR of 6% during the forecast period. The report provides a comprehensive forecast of key segments below- 

Segmentation Overview

Application 1.1 Defense1.2 AerospaceProduct 2.1 Memory2.2 Logic2.3 MOS microcomponents2.4 Analog2.5 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

Buy full Get a glance at the market contribution of rest of the segments – Download a FREE Sample Report in minutes!at US USD2500 – Buy Now

1.1 Fastest growing segment:

The defense segment of the semiconductor market is projected to experience significant growth during the forecast period. This expansion is driven by the ongoing demand for advanced military applications, particularly in the areas of electronic warfare and radar. Compound semiconductors, including diodes, transistors, and switches, are integral to these applications due to their superior speed processing and radiation hardness. Notable investors in this field include the US Department of Defense and the Defense Advanced Research Projects Agency, who are funding research into advanced compound semiconductor materials like SiC for improved radar efficiency. Semiconductors play a crucial role in the development of sophisticated electronic systems and equipment for defense applications. They are employed in electronic warfare systems, radar systems, communication devices, and drone and missile guidance systems. The demand for high-performance semiconductors is further fueled by the increasing need for reliable and secure communication systems and the integration of advanced technologies such as machine learning and artificial intelligence. A prime example of semiconductors’ utilization in defense is the implementation of Field-Programmable Gate Arrays (FPGAs) in electronic warfare systems. FPGAs’ capacity to reconfigure and adapt to evolving threat conditions makes them indispensable components of electronic countermeasure systems. As trends in the defense sector evolve, there is a growing emphasis on reducing the size, weight, and power of integrated circuits (ICs). Commercial-off-the-shelf (COTS) components are increasingly being adopted for various applications due to the expanding availability of suitable commercial parts for military uses. This trend, fueled by the increasing adoption of semiconductors in the military and aerospace industry, is expected to drive the growth of the market in focus during the forecast period.

Analyst Review

The semiconductor market in military and aerospace is experiencing significant growth due to the integration of advanced technologies such as data storage, smart factories, IoT security, digital marketing, data visualization, predictive analytics, cybersecurity, and 5G technology. These innovations are driving digital transformation in the industry, enabling real-time data processing, improved efficiency, and enhanced security. Data management and data privacy are critical concerns, with the need for data security and ethical use of data. Remote work and autonomous vehicles are also influencing the market, requiring semiconductors with high performance and low power consumption. Semiconductor design and manufacturing are evolving with the adoption of edge computing, business intelligence, and AI technologies like deep learning. The semiconductor roadmap includes sustainability initiatives, regulatory compliance, and innovation to address the semiconductor chip shortage and ethical concerns. The semiconductor market outlook is positive, with strategies focusing on semiconductor standards, workforce development, and supply chain optimization. Semiconductor services are essential for supporting the design, manufacturing, and implementation of these advanced technologies. Overall, the semiconductor industry is at the forefront of technological advancements, shaping the future of military and aerospace applications.

Market Overview

The semiconductor market in military and aerospace is experiencing significant growth due to the integration of advanced technologies such as the Internet of Things (IoT), AI, and data analytics. Semiconductor products, including logic devices, microcontroller units, and memory chips, play a crucial role in wired communication, data processing, and AI integration in various application areas. Silicon carbide and silicon chipsets are key components in the development of high-performance electronic systems for government projects and the telecom industry. The market is driven by key factors such as consumer behavior, data infrastructure needs, and business revenues from data center applications and industrial automation systems. The automotive industry also contributes to the market growth through the adoption of semiconductor products in electric vehicles and advanced driver assistance systems. Manufacturing agreements and collaborations between companies are essential market research strategies to stay competitive in this dynamic industry. Key drivers include the increasing demand for memory protection units, insulators, and memory chips in various application areas, including consumer electronics, machine learning, and big data processing.

To understand more about this market- Download a FREE Sample Report in minutes!

Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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RapidCanvas Appoints Mayuresh Kshetramade as Chief Operating Officer to Scale Growth Amid Rising Demand for Solutions Powered by Purpose-Built AI Agents

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In his new role, Mayur will lead RapidCanvas’ go-to-market strategy, revenue initiatives, and customer success programs, ensuring that the company’s AI-powered platform remains at the forefront of business transformation.

AUSTIN, Texas, Jan. 8, 2025 /PRNewswire-PRWeb/ — RapidCanvas, a leader in delivering transformative AI-powered solutions that empower businesses to achieve faster and more impactful outcomes, is pleased to announce the appointment of Mayuresh (“Mayur”) Kshetramade as its Chief Operating Officer (COO). With over two decades of expertise in scaling technology businesses and driving customer-focused growth, Mayur’s leadership comes at a pivotal time as RapidCanvas accelerates its mission to successfully put AI agents to work, addressing tech talent shortage. This announcement follows RapidCanvas’s recent $16M Series A funding round, underscoring the company’s rapid growth and commitment to transforming the AI landscape.

“As we continue to redefine what’s possible with AI, Mayur’s ability to align innovative AI capabilities with customers’ strategic business needs will help RapidCanvas chart new avenues for growth and impact,” said Rahul Pangam, CEO of RapidCanvas.

Mayur joins RapidCanvas after a transformative tenure as CEO of CJ, where he spearheaded global growth, introduced groundbreaking offerings in influencer and creator marketing, and cemented the company’s position as a market leader. His career spans multiple leadership roles across data-driven technology businesses, including executive positions at Epsilon (acquired by Publicis Groupe in 2019), Affinnova (acquired by Nielsen in 2014), and early roles in quantitative research at organizations like The World Bank.

“Mayur is a seasoned leader with a rare combination of strategic vision, operational expertise, and a deep understanding of how to scale innovative businesses,” said Rahul Pangam, CEO of RapidCanvas. “As we continue to redefine what’s possible with AI, his ability to align innovative AI capabilities with customers’ strategic business needs will help RapidCanvas chart new avenues for growth and impact. His appointment underscores our commitment to becoming the go-to platform for reliable, production-grade AI solutions.”

In his new role, Mayur will lead RapidCanvas’ go-to-market strategy, revenue initiatives, and customer success programs, ensuring that the company’s AI-powered platform remains at the forefront of business transformation. RapidCanvas’s unique approach combines purpose-built AI agents with human expertise to deliver outcomes 10x faster and at 80% lower costs compared to traditional solutions.

“Joining RapidCanvas represents an incredible opportunity to drive meaningful impact through AI,” said Mayuresh Kshetramade. “The company’s innovative ‘Service-as-Software’ model is reshaping the AI landscape, allowing businesses to overcome the technical talent gap and unlock growth opportunities at unprecedented speed. I look forward to working with the team to expand our platform’s reach, deliver transformative outcomes, and solidify RapidCanvas’ position as the trusted leader in providing AI solutions that deliver measurable business impact.”

RapidCanvas has garnered attention for its revolutionary approach to AI, leveraging Large Language Models (LLMs) and expert-in-the-loop frameworks to automate up to 75% of complex tasks while ensuring human oversight at critical decision points. The platform’s Reliable AI framework ensures all outputs are secure, explainable, and validated, making it a trusted choice for enterprises navigating digital transformation.

This strategic leadership appointment further cements the company’s dedication to innovation, customer success, and market expansion.

Media Contact

Kavya Ram Mohan, RapidCanvas, 91 9361579816, kavya@rapidcanvas.ai 

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