In a written statement, the university said the agreement is the first step of an effort to deploy Eco Wave Power's unique technology across a wide-range of wave-prone regions in China.
According to the terms of the deal, The Ocean University will secure full funding for EWP's first commercial scale project, and conduct the related R&D works, with its state of the art facilities.
The Ocean University of China is under the direct administration of the State Ministry of Education and was defined by the Central Government as one of the 13 national key comprehensive universities in China.
During the 10th "Five Year Plan", OUC was ranked first among the marine-related institutions in terms of number of projects undertaken including the national project 973 and 863 with funds granted by the National Natural Science Foundation of China. Moreover, OUC has been awarded a prize in natural science, two prizes for science progress, and 54 prizes at provincial and ministerial levels.
Eco Wave Power is the first and only wave energy company to ever win the Frost & Sullivan Product Award for developing and implementing an all-round solution for reliable and cost-efficient energy harvesting from waves.
During the year of 2012, EWP presented significant progress by constructing its small scale power plant (checked and approved by the Hydro Mechanic Institute in Kiev), As well as a Medium-Scale Power plant which is implemented in the Black Sea, producing 10KW.
EWP has advanced technical capabilities, and a strong financial backing, which will enable the company to become a dominant player in the ocean energy market, the university said.
"The cooperation between EWP and OUC was made possible thanks to the Road Show to China that was organized by MATIMOP – The Israeli Industry Center for R&D and the Office of the Chief Scientist at the Ministry of Trade and Labor" said David Leb, the founder of Eco Wave Power.
Merav Tapiero, the Program Manager of the Israel-China Industrial R&D Cooperation Framework at MATIMOP, explained that a delegation of Seven Israeli companies was chosen to participate in a clean energy Road Show to China, during mid September. Eco Wave Power was one of the companies that took part in this activity organized by MATIMOP (on behalf of the chief Scientist office in the Trade & Labor Ministry).
The Road Show took place in Beijing, Tianjin, Changzhou and Jinan. During which, the Israeli Companies met Chinese companies for the purpose of establishing technological and industrial collaboration.
The EWP technology is especially suitable for implementation in China as it has 18,000 km of coastline, and at least 6000 islands, the university said.
In addition, according to the CEC (China's Electricity Council) the country will face power supply shortages this year due to a shortage of coal. The CEC estimates that the power shortages will reach 40 million kilowatts in 2012, compared with only 30 million kilowatts shortage in 2011.
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