Eco Wave Power expects a boost to its US market penetration

The proposed legislation, under the name the Inflation Reduction Act of 2022, would mark the nation’s largest federal investment, to date, in clean energy. And it’ll give us a tool to meet the climate goals that are set – that we’ve agreed to – by cutting emissions and accelerating clean energy. Thus, this year, we have operated in two parallel paths for the penetration of our pioneering technology into the US market: the first path is through the promotion of our first ever wave energy project in the State of California and second is through the promotion of a first of its kind legislation initiative in the State of New Jersey, dedicated to wave energy,” added Inna Braverman. In California, the Company has entered an agreement with AltaSea at the Port of Los Angeles, for the installation of its very first wave energy project in the United States. In line with the announcement, in June 2022, New Jersey State Assemblyman Robert Karabinchak has introduced Bill A4483, which calls for the utility board to create a commercialisation and deployment plan, and to offer financial incentives to companies and port owners for executing wave energy power stations.