Eco Wave Power, OPT establish wave energy alliance

Jaffa Port floaters illustration. Image by Eco Wave Power (

January 13 (Renewables Now) - Wave energy developers Eco Wave Power Global AB (NASDAQ:WAVE) of Sweden and Ocean Power Technologies Inc (NASDAQ:OPTT) of New Jersey today announced a collaboration in relation to their complementary technologies and the industry as a whole.

The two firms said they will join forces on several fronts, including knowledge sharing, joint grant submissions and collaborative assistance in entry to new markets. Furthermore, they could work on joint solutions using their respective offshore and onshore offerings.

"OPT's knowledge and understanding of the offshore environment combined with Eco Wave Power's track record of near-shore wave energy conversion (WEC) installations present opportunities to unlock the power in waves,” commented Philipp Stratmann, president and CEO of OPT.

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription