Eco Wave Power Partners in ILIAD Project
Leading global wave energy developer Eco Wave Power (Eco Wave Power Global, Ticker Symbol: ECOWVE) is pleased to announce its’ participation in the ILIAD Consortium, which has been awarded €17 million by the European Union (EU) as part of the €1 billion European Green Deal.
The ILIAD Project, which is comprised of 56 partners from 18 different countries in Europe, the Middle East and North Africa, will develop, operate, and demonstrate the ILIAD Digital Twin of the Ocean (DTO).
Among the different participating partners are leading organizations such as WAVEC- Offshore Renewables, the Technion- Israel Institute of Technology, University of Haifa, University College Cork- National University of Ireland, The University of Edinburgh, Technical University of Varna and others. The funding will be divided among the parties in accordance with each party’s contribution, and Eco Wave Power will be granted 178,500 Euro (Around 1.7 Million SEK), with the consortium agreement to be entered in approximately 3 months.
ILIAD will commercialize an interoperable, data-intensive, and cost-effective DTO, capitalizing the explosion of new data provided by many different earth sources, modern computing infrastructure including Internet of Things, social networking, Big Data, cloud computing and more.
The ILIAD consortium, which has received funding through the EU Horizon 2020 Research and Innovation Programme, will combine high-resolution modelling with real-time sensing of ocean parameters, advanced algorithms for forecasting of spatio-temporal events and pattern recognition. The DTO will consist of several real-time to near-real-time digital replicas of the ocean.
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