The Company’s Taiwanese partner, I-Ke International Ocean Energy Co. (I-Ke), a subsidiary of Lian Tat Company, informed Eco Wave Power that in December 2025, it signed the land lease agreement with Suao Port for the designated wave energy project site. The agreement provides for a five-year lease term, with an option for extension, enabling the advancement of the project’s next development phase.
Under the lease terms, the application for the transfer of land use rights must be submitted to the Taiwan International Ports Corporation by March 22, 2026, and all port work permits are expected to be obtained by October 2026, establishing a clear regulatory pathway for the project’s implementation.
The Suao Port project represents a strategic step in Eco Wave Power’s expansion into the Asia-Pacific region and supports the Company’s objective to demonstrate the viability of locally manufactured wave energy systems in new international markets.
Inna Braverman, Founder and CEO of Eco Wave Power, said: “We believe the signing of the land lease agreement for the Suao Port project represents an important milestone in advancing Eco Wave Power’s presence in the Asia-Pacific market. Taiwan is actively investing in renewable energy solutions, and we are excited to progress this project together with our partner I-Ke and demonstrate how wave energy can be integrated into existing port infrastructure to produce clean electricity.”
CY Huang, Chairman of I-Ke, added: “We are pleased to advance the Suao Port wave energy project and strengthen our collaboration with Eco Wave Power. Taiwan is committed to expanding its renewable energy portfolio, and we believe wave energy can play an important role in supporting the country’s clean energy transition. The signing of the land lease agreement marks an important step toward bringing this innovative technology to Taiwan.”
Background on the Suao Port Project
As previously announced by Eco Wave Power, I-Ke was awarded the official land use tender from the Suao Port Company for the installation of a wave energy pilot station at the port.
The Keelung Branch of Taiwan Port Corporation designated 6.75 hectares of the southern outer breakwater of Suao Port for wave energy testing, divided into three test zones (A, B, and C) of 2.25 hectares each. Following a competitive selection process completed in July 2025, I-Ke was awarded exclusive rights to Zone C.
Eco Wave Power previously announced that, together with I-Ke, it intends to deploy Taiwan’s first 100 kW onshore wave energy conversion unit at the site, which was purchased under a turnkey sale agreement signed in late 2024.
Further updates regarding the project will be provided as additional development milestones are achieved.
