Eco Wave Power Global Ab (Publ) Stock Price, News & Analysis

Eco Wave Power Global AB has completed the grid connection route works for its EWP-EDF One wave energy project in the Port of Jaffa, Israel. The project involves two parts, with the second part finalized by the Israeli subcontractor Ken Hator Construction and Engineering. This comprehensive route spans approximately 170 meters and requires connection to the electrical grid by the Israel Electric Corporation. Eco Wave Power highlights the cost-effectiveness of its onshore technology compared to offshore solutions, emphasizing reduced complexity and expenses.

Eco Wave Power Global AB (WAVE) recently celebrated its listing on the Nasdaq with a bell ringing ceremony. Assemblyman Robert J. Karabinchak voiced plans to introduce legislation promoting wave energy in New Jersey, aiming to integrate it into the state's Energy Master Plan. This initiative could position New Jersey as a pioneer in commercial wave energy in the U.S. Karabinchak emphasized that clean energy is crucial for economic growth and job creation, aligning with ambitious state goals for renewable energy by 2025 and 2050.

Eco Wave Power Global AB (WAVE) announced a collaboration with AltaSea at the Port of Los Angeles aimed at implementing its wave energy technology. The partnership will pursue grants to support this initiative, with a pilot program planned on the AltaSea campus. Eco Wave Power is focused on expanding its presence in the U.S. and reducing emissions through renewable energy solutions. The company will also engage in outreach activities and aims to establish an office at the AltaSea site, reinforcing its commitment to the blue economy.

Eco Wave Power Global AB (NASDAQ: WAVE) will hold its official bell ringing ceremony on the Nasdaq Stock Market on January 20, 2022, at 9:15 a.m. ET, celebrating its public listing. The company, a leader in clean energy from ocean waves, began trading on July 1, 2021. CEO Inna Braverman highlighted the company's decade-long track record and commitment to addressing climate change through its patented technology. The event will feature remarks from Robert J. Karabinchak, discussing wave energy legislation in New Jersey.

Eco Wave Power Global AB (WAVE, ECOWVE) has been chosen as a finalist in the $1 billion Build Back Better regional challenge by the LAEDC. This initiative aims to enhance economic recovery post-pandemic, awarding the coalition $500,000 to develop projects for sustainable growth in Southern California. The coalition aims to implement a wave energy pilot system at AltaSea in the Port of Los Angeles, marking a significant step in clean energy production. Eco Wave Power's technology aims to contribute to job creation and ecological resilience at America's leading trade gateway.

Eco Wave Power and Ocean Power Technologies announced a strategic collaboration aimed at accelerating wave energy projects. They plan to leverage complementary technologies, including joint grant submissions and market entry assistance. The partnership aims to enhance knowledge sharing and develop innovative solutions that combine their offshore and onshore expertise. The collaboration is expected to contribute positively to the renewable energy sector, addressing climate change by integrating wave energy into the global energy mix.

Eco Wave Power Global AB (WAVE) announced the delivery of its first floaters and supporting structures for the grid-connected EWP-EDF One project at Jaffa Port, Israel. This milestone signifies substantial progress toward the installation of the first wave energy array, with installation expected to begin later this month. The project aims to generate electricity by Q3 2022 and will consist of 10 floaters connected to a conversion unit. The innovative onshore delivery method enhances efficiency compared to traditional offshore installations.

Eco Wave Power Global AB (WAVE) announced its transition to Vator Securities as its new Certified Adviser, effective January 1, 2022. The company is recognized for its innovative wave energy technology and has received several accolades, including being labeled as a "Pioneering Technology" by the Israeli Ministry of Energy. Eco Wave Power focuses on producing green electricity from ocean waves, aiming to combat climate change. This change in advisers is set to benefit the company as it continues its mission, supported by funding from the EU and recognition from the United Nations.

Eco Wave Power Global AB (WAVE) reported its interim financial results for the nine months ending September 30, 2021. Revenues increased to SEK 0.26 million from SEK 0 in 2020, attributed to feasibility study services in Asia. However, operating losses widened to SEK 17.9 million, up from SEK 10.5 million in the previous year. Net loss increased to SEK 14.9 million, and cash reserves stood at SEK 140.9 million. The company is advancing its projects pipeline, including collaborations with the Israeli Navy and developments in Portugal.