On March 15, 2022, INGINE entered an Agency Agreement with SINOTRADE, a company directed by Mr. Vincent Pradier (Chairman and Managing Director), for wave energy project development in Taiwan (RoC). As such, SINOTRADE will be INGINE’s wave energy business representative in Taiwan and will be mobilizing mutual resources and network to promote the deployment of INGINE’s WEC technology in the territory. In this endeavor, major stakeholders will include the Taiwan Power Company (TPC), local and national government including Taiwan’s Ministry of Economic Affairs’ Bureau of Energy, as well as selected Taiwanese harbors operated by the Taiwan International Ports Corporation (TIPC)

INGINE’s Business Development Director Mr. Dae Hyun KIM has expressed the company’s enthusiasm about this new partnership: “Currently, there is growing momentum in Taiwan to enable the development of marine renewable energy beyond offshore wind energy: the public, private and academic sectors are coming together to enable the energy transition in all its forms, developing domestic expertise as well as outsourcing technology when necessary. Mr. Pradier has demonstrated that he is actively involved at the heart of these dynamics, and our teams at INGINE believe that our shared determination can accelerate wave energy commercialization in Taiwan.”