Eco Wave Power has signed a collaboration agreement with Meridian Energy Australia (MEA) Pty Ltd to jointly investigate the development of commercial wave energy power projects in the Australian National Electricity Market (NEM).
Eco Wave Power will recognize MEA as a supporting partner, lead the investigation into the application of wave energy in Australia and identify opportunities for the application of the Eco Wave Power Background IP.
MEA is a renewable energy firm generating power through two wind farms, three hydropower stations and supports other projects via offtake agreements. MEA sells its electricity via subsidiary Powershop Australia.
Jason Stein, CEO of Meridian Energy Australia said: “Meridian proudly generates only from 100% renewable sources in Australia. Our current generation assets are wind and hydro, so by entering this collaboration we are excited to investigate the potential of wave energy in Australia. We believe that renewable energy is the only way forward and are always looking at ways to diversify and grow our renewable energy portfolio in Australia.”
Inna Braverman, founder and CEO of Eco Wave Power, said: “It is our honor to work with Meridian Energy Australia.
“Meridian is demonstrating significant leadership by only generating electricity from renewable energy sources. We believe that this collaboration with Meridian, a global leader in renewable energy, is another significant step in the commercialization of wave energy”