Israel reveals plan to invest circa $2 million in marine energy solutions

Israel’s government is planning to invest NIS 6 million (approximately $2 million) in advancing marine energy solutions, including wave energy generation, offshore energy systems, artificial intelligence-powered marine energy management, and related technologies.

The joint initiative by Israel’s Ministry of Energy and Infrastructure and the Israel Innovation Authority is designed to initiate applied research to promote sustainable development of Israel’s maritime space and enable the implementation of innovative energy technologies, as part of advancing energy and climate goals.

The program aims to strengthen the connection between academia, industry and government and is intended to accelerate the transition from laboratory to market, encourage collaborations between researchers and companies, and create infrastructure that will allow Israeli technologies to integrate into the local and global energy markets.

Eco Wave Power currently operates Israel’s first and only grid-connected wave energy power station, located at Jaffa Port, which exports clean electricity directly into Israel’s national grid under a power purchase agreement (PPA) with the Israel Electric Corporation.

“We highly commend the Ministry of Energy and Infrastructure and the Israel Innovation Authority for launching this important initiative,” said Inna BravermanFounder and Chief Executive Officer of Eco Wave Power. “We are proud that Eco Wave Power’s grid-connected wave energy power station at Jaffa Port has already demonstrated the viability of marine renewable energy in Israel, and we look forward to seeing additional Blue-Tech innovations emerge through this initiative.”

“As artificial intelligence drives unprecedented demand for clean electricity, marine renewable energy can become an important part of the future energy mix. Combining wave energy with AI-enabled optimization and digital twin technologies creates an exciting opportunity to deliver resilient, intelligent, and sustainable coastal energy infrastructure.”