Eco Power Wins Grant from Innovate UK for Micro-grid Project in Thailand

Eco Wave Power Gibraltar, a subsidiary of leading global wave energy developer Eco Wave Power, has announced the approval of a grant project budget of 296,787 GBP by Innovate UK, the UK’s innovation agency.

The grant is provided as part of the Energy Catalyst Round 8: Clean Energy, an experimental development competition for a project titled “Sea Wave Energy Powered Microgrid for Remote Islands and Rural Coasts”, to be executed in collaboration with the UK Queen Mary University of London (QMUL), the Asian Institute of Technology (AIT), and the Provincial Electricity Authority (PEA) of Thailand.

The 296,787 GBP grant budget will be used by the parties for the performance of feasibility studies and joint research and design of a wave powered micro-grid system with the intent of testing the innovative solution on certain islands in Thailand in the future.

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The grant funding will be divided among the parties in accordance with each party’s contribution to the project, and Eco Wave Power will be granted 103,993 GBP and will contribute additional 44,569 GBP, making the total budget for Eco Wave Power’s activity equal to 148,562 GBP. The Grant Offer Letter will be signed between the parties subject to a finance review and submission of additional documentation.

Inna Braverman, Founder and CEO of Eco Wave Power commented, “This grant from Innovate UK is a third grant approval notice that we received during The Month of June, with the first one being the 178,500 Euro grant from the EU as part of the ILIAD Consortium and the second is the grant from the Wohl Clean Growth Alliance.”

“We are extremely grateful to Innovate UK for such a grant, as this project presents a unique opportunity for us to research a new technology application for our WEC, customized for islands and other micro grid applications, which are a significant target market for Eco Wave Power,” she added.

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“We are grateful for Innovate UK’s vote of confidence and are very excited to commence the collaboration with Eco Wave Power, The Asian Institute of Technology and the Provincial Electricity Authority of Thailand. We believe that our collaboration will yield significant knowledge and scientific progress, which shall contribute to the commercialization of wave energy in islands and lead to additional micro grid applications,” stated Professor Guang Li and Dr. Kamyar Mehran.