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

Eco Wave Power Global AB (NASDAQ: WAVE), a leading onshore wave energy developer, has been selected as a finalist for the 2024 EDF Pulse Awards, competing in the category of developing a profitable decentralized energy system. The company's innovative technology for generating clean electricity from ocean and sea waves was chosen as one of 13 finalists out of 144 entrants.

This recognition comes alongside Eco Wave Power's collaboration with EDF Renewables IL on the EWP-EDF One project in Israel, which has a 100KW installed capacity and was recently connected to the national electrical grid. The project marks the first time in Israel's history that wave-generated electricity is being sent to the national grid.

Finalists will present to the EDF Executive Committee on July 17, 2024, with winners announced the following day. The EDF Pulse awards offer support to startups in research, proof of concept, and professional development.

Eco Wave Power Global (Nasdaq: WAVE) will participate in the Spring MicroCap Rodeo Conference in New York on June 6th, 2024. Inna Braverman, Founder and CEO, will present the company's operational results, upcoming projects in Los Angeles and Portugal, and new strategic partnerships and revenue streams. The presentation is scheduled for 2:30 PM ET and will be webcast live. Management will also hold one-on-one meetings with approved investors. More information and registration details are available on the conference website.

The shareholders of Eco Wave Power Global (Nasdaq: WAVE) are notified to attend the annual general meeting on June 27, 2024, at Setterwalls Advokatbyrå's offices, Stockholm. Registration opens 30 minutes before the AGM. To participate, shareholders must be registered with Euroclear Sweden AB by June 18, 2024, and notify their attendance by June 20, 2024. Postal voting is available. Key proposals include no dividend for 2023, amendments to share capital limits, authorizations for share issuance and repurchase, and changes to the 2020/2024:B warrant program to include Inna Braverman and David Leb. The board proposes re-election of current directors and PriceWaterhouseCoopers AB as auditors.

Eco Wave Power (Nasdaq: WAVE), an onshore wave energy technology company, announced its Q1 financial results for 2024. The company reported a 3.5% decrease in operating expenses and ended the quarter with $7.96 million in cash and short-term bank deposits. Notable milestones include progress in projects in Israel, the U.S., and Portugal. In Israel, the EWP-EDF One project showed improved energy generation and reduced downtime. In the U.S., a co-investment agreement and licensing progress for a project in the Port of Los Angeles were highlighted. In Portugal, final approvals for a commercial-size project in Porto were secured. Despite no revenues for Q1, expenses were reduced in R&D and sales, with a slight increase in general and administrative costs. The net loss was $527,000, similar to the previous year. Plans to enhance cash flow include expanding engineering and sales teams and exploring further U.S. market opportunities.