New Jersey General Assembly member Robert Karabinchak is planning to introduce a new legislative initiative in the latest assembly session that aims to bolster wave energy as the next, up-and-coming renewable energy source.
Karabinchak (pictured) said the state's governor has laid out ambitious clean energy goals of 35% by 2025 and 100% by 2050.
He said: “Largely these goals will be met by offshore wind and solar, which I was proud to sponsor several pieces of enabling legislation.
“However, our renewable energy goals can only be met when all renewable sources work together, including wave energy.”
The state can aim to include wave energy in its Energy Master Plan and develop a streamlined process for its deployment along New Jersey's coast, he said.
This would help New Jersey become the first US state or territory to have a commercial wave energy proof of concept, he added.
“Not only do we see this as another step toward to reducing our reliance on fossil fuels and combating climate change, but also a way to build our economy and create numerous jobs,” Karabinchak said.
The announcement came as Eco Wave Power Global held its official bell ringing ceremony on the Nasdaq Stock Market to celebrate becoming a public company.
Karabinchak added: “It is how we keep the pioneering spirit of Thomas Edison alive today - we embrace new ideas and innovation in our country, especially companies like Eco Wave Power, which has proven itself to be the leader in global wave energy development and implementation.
“With that, I'm proud to extend an enthusiastic welcome and congratulations to Eco Wave Power for being publicly listed on Nasdaq US Capital market.”