Israeli wave energy technology developer Eco Wave Power won the most innovative technology award at this weeks Mixiii 2014 event.
“The fact that Eco Wave Power, an alternative energy company, took home one of the top prizes in Mixiii, shows once again that Israel’s cleantech companies are at the forefront of innovation,” said Adi Yefet, head of the water arena at Israel NewTech. Yefet noted that the event covered innovation in all areas, from biotech, to hi-tech and more.
“The judges were really taken with the world-changing potential of Eco Wave Power. The company has introduced a number of innovations to the technical design of its solution, aiming to avoid the known pain points of other wave energy products on the market. This appears to be the reason the company has garnered such market interest in a relatively short period of time. If the company can execute on its vision of delivering economically competitive energy to the grid it will be a true game-changer,” said David Stark, a principle at the Ourcrowd investment platform and one of the judges in the competition.
Sixty young start-ups were competing for the innovation award of the Chief Scientist of the Ministry of Economy, as part of the start-up WOW competition that took place at Mixiii 2014, which is the yearly central event for the hi-tech industry.
The sixty companies, which underwent a professional screening process by the office of the Chief Scientist, showcased their technologies in a special start up pavilion that was located at the center of the exhibition.
In the last day of the conference, 3 companies were chosen as the winners according to various criteria such as need, level of innovation/uniqueness, business model and go to market strategy. The winners for the most innovative technologies were Eco Wave Power, SQream and VocalZoom.
This award, for EWP’s unique wave energy generation technology, follows a number of awards that Eco Wave Power received in the past. In 2012, Eco Wave Power won the Frost& Sullivan Product Innovation Award, and earlier this year the company was announced as the winner of the International Energy Globe Awards, in the category of “The Best Project in Israel“.
Chief Scientist Avi Hasson, was present in the award ceremony and congratulated the winners. He added that “the Office of the Chief Scientist invests significantly in startup companies. We believe that a massive investment in early stage entrepreneurship is the key to future success. The Mixiii 2014 event is a unique platform for innovative Israeli technologies”.
Eco Wave Power was established in 2011 and became a significant player in the wave energy industry. In a relatively short period of time, the company was able to construct a demo plant in Jaffa Port and to secure a 79MW of projects pipe-line.
For the execution of its pipe-line, the company initiated its first fund-raising round for a sum of 10 Million USD.
For the full Eco Wave Power press release on PR Newswire click here.