# Eco Wave Power to Start New Wave Energy Projects Amid Pending Energy Legislation - Link: https://greenlivingguy.com/2022/08/eco-wave-power-to-start-new-wave-energy-projects-amid-pending-energy-legislation/ - Published: 2022-08-04T11:32:22-04:00 - Author: greenlivingguy ## **_Stockholm, Sweden (August 3, 2022)_**  Eco Wave Power Global AB (publ) (Nasdaq Capital Market: WAVE) (“Eco Wave Power” or the “Company”) is pleased to announce that U.S. President Joe Biden and Senate Majority Leader Chuck Schumer are promoting a $369 billion renewable energy [bill](https://greenlivingguy.com/2020/05/wave-energy-integration-costs-should-compare-favorably-to-other-energy-sources/). The proposed legislation, under the name _the Inflation Reduction Act of 2022. For it _would mark the nation’s largest federal investment. All for [clean](https://greenlivingguy.com/2024/10/waves-of-change-taiwan-rides-the-green-energy-current/) energy. In remarks made at the White House earlier this week, President Joe Biden said: “ We will invest $369 billion to secure our energy future and to [address the climate crisis](https://greenlivingguy.com/2024/10/waves-of-change-taiwan-rides-the-green-energy-current/), bringing down family energy bills by hundreds of dollars by providing working families tax credits.   This bill would also be the most significant legislation in history to [tackle the climate](https://greenlivingguy.com/2016/05/hip-hop-caucus-and-cnbc-join-forces-to-tackle-climate-change/) crisis. Further, it can improve our energy security right away. Furthermore, it’ll give us a tool to meet the climate goals that are set. Essentially that we’ve agreed to by cutting [emissions and accelerating clean energy](https://greenlivingguy.com/2025/07/net-zero-energy-balancing-emissions-and-removal/). It’s totally a step forward. “The United States is a respected global [leader in climate initiatives](https://greenlivingguy.com/2022/03/environmental-justice-leader-mustafa-ali-to-review-justice40-initiative-at-bipoc-climate-justice-dialogue/). And such a massive investment into renewable energy – the largest investment ever– is critical towards building a cleaner and healthier planet,” said Inna Braverman, [Eco Wave Power’s](https://greenlivingguy.com/2024/10/waves-of-change-taiwan-rides-the-green-energy-current/) Founder and CEO. “The United States has over 95,000 miles of coastline and over 128 million Americans live in coastal counties. Making blue energy a smart renewable energy solution for the United States while positioning the United States as a key market for [Eco Wave](https://greenlivingguy.com/2024/08/green-energy-huawei-powering-saudi-arabias-red-sea-project/) Power.” This legislation initiative comes at an opportune time for [Eco Wave Power](https://greenlivingguy.com/2011/10/lakewood-ranch-sees-new-wave-of-green-construction/). The Company’s intent is to focus its commercialization strategy on the [European](https://greenlivingguy.com/2026/01/company-ev-corporate-fleet-growth-in-the-eu/) and the Unites States markets. ![Eco Wave power](https://i0.wp.com/greenlivingguy.com/wp-content/uploads/2022/08/ 9217464406cfc6fb_org.jpg?resize=420%2C315&quality=52&ssl=1 "Eco Wave") ## New Wave Energy Projects “The United States is a high priority market for [Eco Wave](https://greenlivingguy.com/2009/12/renewable-energy-electric-the-united-states-in-clean-power/) Power. Thus, this year, we have operated on two parallel paths for the penetration of our pioneering technology into the U.S market. The first path is through the promotion of our first ever [wave energy](https://greenlivingguy.com/2008/07/electric-car-project-kennedy-promos-israeli-better-place/) project in the State of California, and the 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 2022, Eco Wave Power began its strategy for the U.S. It calls for penetration through the promotion of its pioneering technology in the State of California. Not to mention the State of New Jersey as well. In California, the Company has entered an agreement with AltaSea at the Port of Los Angeles. That’s for the installation of its very first wave [energy project in the United States](https://greenlivingguy.com/2025/11/solar-power-energy-surges-transforming-red-states/). [Eco Wave Power announces](https://greenlivingguy.com/2011/12/lexus-and-scholastic-announce-first-round-of-winners-in-the-2011-2012-lexus-eco-challenge/) that in accordance with the agreement with AltaSea, the wave energy conversion unit is already on its way to the Port of Los Angeles. It will arrive in September 2022, enabling the Company to start assembly and installation works. ## Taking Renewable Energy to the Next Level Whereas in parallel, the Company has worked closely with New Jersey State Assemblyman Robert Karabinchak. Karabinchak announced in January 2022 his intent to introduce a new legislative initiative to bolster wave energy as the next up-and-coming [renewable](https://greenlivingguy.com/2015/05/project-navigator-enhances-renewable-energy-success/) energy source. Moreover, recognizing this technology’s incredible potential. Karabinchak says the state can aim to include [wave energy](https://greenlivingguy.com/2005/06/u-s-senator-domenici-says-energy-bill-debate-begins-monday/) in its Energy Master Plan. This action will help New Jersey become the first U.S. state or territory to have a commercial [wave energy](https://greenlivingguy.com/2023/05/energy-state-best-worst-2023/) proof of concept. In line with the announcement, in June 2022, New Jersey State Assemblyman Robert Karabinchak introduced [Bill A4483](https://publish.ne.cision.com/l/wzjzwvyle/njleg.state.nj.us/bill-search/2022/A4483), which calls for the utility board to create a commercialization and deployment plan and to offer financial incentives to companies and port owners for executing wave energy power stations. Eco Wave Power believes that given that the $369 billion legislation initiative will be approved in its current format. Moreover, combined with the Company’s recent progress in the states of California and New Jersey. It will serve as a significant boost to the Company’s commercialization plans for the United States. ## **About Eco Wave Power Global AB (publ)** Eco Wave Power is a leading onshore [wave energy](https://greenlivingguy.com/2022/03/is-reclaimed-water-the-key-to-more-energy/) technology company. Their patent is smart and cost-efficient technology for turning ocean and sea [waves into green](https://greenlivingguy.com/2024/12/green-tech-wave-israels-startup-ecosystem-in-2024/) electricity. Eco Wave Power’s mission is to assist in the fight against [climate change](https://greenlivingguy.com/2022/05/5-ways-your-business-can-be-more-eco-friendly/). That’s by enabling commercial power production from the ocean and sea waves. Most notably, the Company is currently finalizing the [construction of its grid-connected project](https://greenlivingguy.com/2023/03/green-construction-tool-innovations-to-enhance-projects/) in Israel. That’s also with co-investment from the Israeli Energy Ministry, which recognized the Eco Wave Power technology as a “Pioneering Technology.” Moreover, it will soon commence the installation of its newest pilot in AltaSea’s premises in the Port of Los Angeles. The Company also holds concession agreements for commercial installations in Europe and has a total projects pipeline of 327.7MW. In addition, Eco Wave Power received funding from the European Union Regional Development Fund. That’s in addition to Innovate UK and the European Commission’s Horizon 2020 framework program. The Company has also [received](https://greenlivingguy.com/2012/02/golden-colorado-siblings-receive-presidents-environmental-youth-award/) the “Global Climate Action Award” from the United Nations. Finally, Eco Wave Power’s American Depositary Shares (WAVE) are traded on the Nasdaq Capital Market. More info: [www.ecowavepower.com](http://www.ecowavepower.com/). [Click here for the original press release](https://www.ecowavepower.com/eco-wave-power-expects-a-boost-to-its-u-s-market-penetration-efforts-in-line-with-the-369-billion-renewable-energy-bill-initiative-by-the-u-s-government/) ![author avatar](https://secure.gravatar.com/avatar/df91669667126e1290c21ee0342c386e2da19d588d4d9ca6560bd82ed59a9641? s=300&d=monsterid&r=g) greenlivingguy The Green Living Guy, Seth Leitman is an independent power producer, a green living expert, and Editor of the McGraw-Hill, TAB Green Guru Guides. Seth is also an Author, Radio Host, Reporter, Writer and an Environmental Consultant on green living. The Green Living Guy writes about green living, green lighting, the green guru guides and more. Seth's books range from: # Build Your Own Electric Vehicle by Bob Brant and Seth Leitman (2nd and 3rd editions) # Build Your Own Plug-in Hybrid Electric Vehicle by Seth Leitman # Build Your Own Electric Motorcycle by Carl Vogel # Green Lighting by Seth Leitman, Brian Clark Howard and Bill Brinsky # Solar Power For Your Home by David Findley # Renewable Energies For Your Home by Russel Gehrke # Do-it-Yourself Home Energy Audits by David Findley # Build Your Own Small Wind Power System by Brian Clark Howard and Kevin Shea # and more green living books to follow. [See Full Bio](https://greenlivingguy.com/author/greenlivingguy/) [ ](https://greenlivingguy.com/author/greenlivingguy/)