Eco Wave Power has been chosen as a finalist, as part of coalition, in a $1bn Build Back Better regional challenge, led by the Los Angeles County Economic Development Corporation (LAEDC).
As a finalist, the coalition has been awarded $500,000 to further develop plans for several coordinated projects to advance more equitable and sustainable growth in the region.
The coalition will advance to Phase 2 and compete for up to $100m in American Rescue Plan funding to support a proposal for the implementation of a wave energy pilot at AltaSea at the Port of Los Angeles.
Los Angeles Mayor Eric Garcetti said: “LAEDC and its community partners are doing such important work to ensure a robust and equitable economic recovery from the pandemic.
“This coalition embodies the spirit and innovation of our region, and I wish them success as they continue on to the second phase of this competition.”
Inna Braverman, founder and CEO of Eco Wave Power, said: “We are very proud to take part in the coalition led by LAEDC.
“We believe that we can significantly assist with its mission of leveraging the innate convergence of blue and green economies at the Port of Los Angeles and beyond to grow new jobs and enterprises for the region, while improving the environment and increasing the resilience of America’s leading trade gateway.
“We are excited to enter Phase 2 of the program by implementing our innovative technology on AltaSea’s premises in the Port of Los Angeles.
“This project will be the first-time clean electricity is sent from ocean waves to the Los Angeles power grid.”