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Eco Wave Power Strengthens Management – Appoints New Vice President of Engineering to Accelerate Execution of the Company’s Projects in the USA, Taiwan and Portugal

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Eco Wave Power Appoints Ran Atias as VP of Engineering – Atias Brings Vast Tech Leadership, Aiming to Drive Innovation and Accelerate Projects Delivery

TEL AVIV, Israel, Nov. 4, 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 the appointment of Ran Atias as Vice President of Engineering for the Eco Wave Power Group.

Mr. Atias will begin his employment immediately and will be based in Eco Wave Power’s headquarters in Tel Aviv, Israel. 

Mr. Atias holds an MBA and a B.Sc. in Mechanical Engineering from Ben-Gurion University and joins Eco Wave Power with a broad experience in the management of high-complexity mega projects, driving research and development, and managing diverse engineering teams. With more than 10 years of engineering experience, Ran has demonstrated success in product scaling across a variety of industries, including the automotive, defence and robotics industries. 

Inna Braverman, Founder and Chief Executive Officer of Eco Wave Power, stated: “Ran brings an agile spirit to product and engineering teams. I believe that by challenging the status quo, he will be able to increase engineering efficiency and accelerate project delivery timelines. This will enable Eco Wave Power to execute more projects faster, which will drive the Company’s worldwide growth.”

“Thus far, Eco Wave Power has executed two grid connected projects (in Gibraltar and in Israel, in Collaboration with EDF Renewables IL) and is currently moving forward with its third, fourth and fifth projects in parallel. We have officially kicked-off the development and implementation of our first U.S.-based project in the Port of Los Angeles (with co-investment from Shell MRE), Taiwan (as part of a sale agreement entered with I-Ke International Ocean Energy Co.) and in Portugal (our first commercial project). As we plan to add more projects into our execution plans in the upcoming months and enhance the Company’s revenues, I believe that Ran will have a strategic value in achieving the Company’s goals,” added Ms. Braverman.

Mr Atias stated: “What attracted me to Eco Wave Power was the ability to transform the entire renewable energy industry. I am excited to join Eco Wave Power’s leadership team and leading its engineering team to contribute to Eco Wave Power’s success as the Company progresses to the next phase of its commercialization strategy.”

Mr. Atias will oversee all aspects of the Company’s engineering functions to facilitate alignment with its broader goals and objectives. He will be responsible for expanding the Company’s strategic technology development and implementation.

This strategic addition to its executive team underscores Eco Wave Power’s unwavering commitment to driving innovation and leadership within the wave energy industry, while accelerating the delivery of projects.

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 404.7 MW.

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 honoured 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

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 the potential benefits that Mr. Atias will bring to the Company and his strategic value in achieving the Company’s goals, the Company’s plans to add more projects into its execution plans in the upcoming months and enhance the Company’s revenues. 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.

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

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

https://news.cision.com/ewpg-holding-ab–publ-/r/eco-wave-power-strengthens-management—appoints-new-vice-president-of-engineering-to-accelerate-exe,c4060737

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TTA and O-RAN ALLIANCE Signed Agreement to Cooperate on Standardization of Open RAN Technology

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WASHINGTON and BONN, Germany, Nov. 25, 2024 /PRNewswire/ — TTA and O-RAN ALLIANCE have officially announced the signing of a Cooperation Agreement (CA) that enables the adoption of O-RAN ALLIANCE specifications to TTA standards.

The agreement establishes a collaborative process through which individual O-RAN specifications will be selected and adopted by TTA, strengthening the framework for Open RAN development and deployment in the Republic of Korea. By enabling O-RAN ALLIANCE specifications to be adopted as TTA standards, the agreement provides the basis for accelerated progress in mobile network innovation and supports the creation of a more competitive and diverse telecommunications ecosystem.

This agreement aligns with the shared vision of TTA and the O-RAN ALLIANCE to drive the industry towards the development of more intelligent, open, and virtualized mobile networks that comply with global standards. Both organizations are committed to fostering a robust framework that facilitates the adoption of Open RAN technology, ensuring that mobile networks meet evolving technical and architectural requirements in the future.

“TTA and O-RAN ALLIANCE share a commitment to the advancement of Open RAN and recognize the important role it plays in fostering an ecosystem of trusted vendors capable of delivering cost-effective, high-performance mobile network platforms.” said Seung-Hyun Son, President of TTA. “The Cooperation Agreement we have signed will combine the expertise and influence of both organizations to ensure interoperability in the open RAN market and the deployment of systems based on integrated, standards-based technologies.”

“O-RAN ALLIANCE specifications set the global foundation for open, intelligent, virtualized and interoperable Radio Access Networks, building on common RAN standards,” said Abdurazak Mudesir, Chair of the Board of O-RAN ALLIANCE and Group CTO, Deutsche Telekom. “O-RAN ALLIANCE welcomes TTA’s transposition of O-RAN specifications to TTA standards. As with other national SDO’s, this MoU ensures technical alignment and supports mutual efforts to enable truly open RAN ecosystem.”

About TTA

The Telecommunications Technology Association (TTA) is a leading organization in the Republic of Korea dedicated to develop ICT standardization and provide testing and certification services. It plays a key role in setting and promoting high-quality ICT standards that enable the development and adoption of innovative communication technologies, ICT convergence, security, software, broadcasting, radio/wireless communications, 5G/B5G, etc. TTA’s extensive range of services includes testing and certification for software and network systems, ensuring that they meet global industry standards. By supporting international cooperation and developing specialized training programs, TTA contributes to the growth and competitiveness of Korea’s digital and telecommunications industries.

For more information, visit www.tta.or.kr

About O-RAN ALLIANCE

The O-RAN ALLIANCE is a worldwide community of more than 300 mobile operators, vendors, and research & academic institutions operating in the Radio Access Network (RAN) industry. As the RAN is an essential part of any mobile network, the O-RAN ALLIANCE’s mission is to re-shape the industry towards more intelligent, open, virtualized and fully interoperable mobile networks. The new O-RAN specifications enable a more competitive and vibrant RAN supplier ecosystem with faster innovation to improve user experience. O-RAN based mobile networks at the same time improve the efficiency of RAN deployments as well as operations by the mobile operators. To achieve this, the O-RAN ALLIANCE publishes new RAN specifications, releases open software for the RAN, and supports its members in integration and testing of their implementations.

For more information, please visit www.o-ran.org.

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SOURCE O-RAN Alliance

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The vegetable greenhouse at the foot of the Turpan Flame Mountain ushered in a new era of electrification

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TURPAN, China, Nov. 25, 2024 /PRNewswire/ — On November 20, in the 10,000-mu vegetable greenhouse base in Sanbao Township, under Huoshan Mountain, Turpan City, Xinjiang, there was a busy and warm scene. Power supply personnel are shuttling between greenhouses, helping growers to debug electric heaters and other electrical equipment to ensure a stable supply of vegetables this winter. Despite the cold wind, the greenhouses are full of greenery, and growers are busy planting fruits and vegetables such as peppers and bok choy in preparation for the upcoming harvest season.

In recent years, with the in-depth promotion of smart greenhouse technology, the electrification of greenhouses has become a common trend in Turpan. Growers have adopted modern equipment such as electric roller shutters, electric heating equipment, temperature and humidity control devices, which not only improve production efficiency, but also greatly improve the quality of fruits and vegetables.

In view of the concentrated area of greenhouse planting, the State Grid Turfan Power Supply Company carried out a survey on electricity demand in advance and vigorously implemented the upgrading and transformation project of the rural power grid. By upgrading transformers and rural power lines in a timely manner, the power supply company has effectively improved the stability and reliability of power supply. At the same time, the company also regularly carries out door-to-door services to help growers check the hidden dangers of electricity, ensure the stable operation of greenhouse equipment, and protect the growers’ “money bags”.

Turpan City has 24,000 greenhouses, and the planting area of fruits and vegetables reaches 36,000 mu, forming 15 relatively concentrated development areas. In November this year, the planting of off-season fruits and vegetables in winter has been in full swing, and it is expected that they will be available from January to April next year. These products are mainly shipped to Urumqi and other medium-sized cities, becoming a veritable “vegetable basket” in Xinjiang.

Electrification not only brings about productivity gains, but also significant environmental benefits. Traditional coal-fired heating methods not only pollute the environment, but also have potential safety hazards. Electric heating equipment is not only environmentally friendly, but also easy to control, which can accurately adjust the temperature in the greenhouse and provide the best growing environment for fruit and vegetable growth.

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SOURCE State Grid Turfan Power Supply Company

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Special Envoy of Indonesia, Hashim Djojohadikusumo Attracts EUR 1.2 Billion of Green Financing in Electricity Sector at COP29

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BAKU, Azerbaijan, Nov. 25, 2024 /PRNewswire/ — The Government of Indonesia, represented by the Special Envoy of the President of the Republic of Indonesia, Hashim Djojohadikusumo, has attracted EUR 1.2 billion in green financing for the power sector from Kreditanstalt für Wiederaufbau (KfW). This agreement was finalized during the 29th Conference of the Parties (COP29) in Baku, Azerbaijan, on Wednesday (11/13). The funding will be allocated to the development of various green power infrastructures, supporting the nation’s sustainable energy transition.

The partnership was formalized by the signing of a Memorandum of Understanding (MoU) between PT PLN (Persero) and KfW. This partnership focuses on developing clean energy projects, specifically Pumped Storage Hydropower Plants and transmission network to connect green power plants.

Hashim Djojohadikusumo emphasized that the government of Indonesia is committed to reducing carbon emissions through energy transition by fostering collaborations at the global level, the shift towards renewable energy is expected to support energy self-sufficiency and drive national economic growth. He affirmed, “We have developed a new strategy over the next five years to achieve a minimum of 8% sustainable economic growth.”

He underscored that the development of clean energy sources is crucial for enhancing Indonesia’s industrial competitiveness. Over the next 15 years, the country targets a 75 percent increase in renewable energy generation capacity, contributing to the planned addition of 100 gigawatts (GW) of electricity capacity. “As a major nation, we are committed to fulfilling our responsibility to protect the future of our environment. We deeply appreciate the established international cooperation, which is a testament of our collective efforts in achieving the Net Zero Emissions (NZE) target,”

Darmawan Prasodjo, President Director of PT PLN (Persero) (“PLN”), expressed the corporation’s firm support towards the government’s initiatives in advancing energy transition. Various collaborations and initiatives have been implemented by PLN to ensure the success of sustainable electricity projects.

He noted that KfW’s involvement in PLN’s green projects is expected to drive more international partners to collaborate, cultivating a synergy of sustainable strategic, technical, and investment collaboration to accelerate global climate action. “This collaboration signifies PLN’s proactive steps in expanding international partnerships to enhance national energy self-sufficiency in line with global climate actions.”

Jürgen Kern, Sustainability Officer of KfW Group, explained that KfW’s support for Indonesia demonstrates Germany’s commitment to international cooperation for green transformation. Furthermore, Jürgen highlighted that PLN is at the center of Indonesia’s energy transition, underscoring the company’s unwavering support to greening the energy sector, while maintaining reliable energy access.

“Therefore, we believe that Indonesia and Germany can continue to strengthen partnership in the energy sector, moreover, in clean energy projects, like renewable energy and transmission. Achieving the NZE target requires robust collaboration and partnership,” he concluded.

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SOURCE PT PLN (Persero)

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