Eco Wave Power Global Ab (Publ) - WAVE STOCK NEWS

Eco Wave Power Global AB (publ) (Nasdaq: WAVE) announced its participation in the H.C. Wainwright Global Investment Conference, taking place from May 23-26, 2022. CEO Inna Braverman will present virtually on May 24 at 7:00 a.m. ET. Additionally, one-on-one meetings with management are available on May 23 and 25. Eco Wave Power is a leader in clean energy, focusing on wave power technology. The company has received various recognitions, including funding from the EU and a Global Climate Action Award from the UN.

Eco Wave Power Global AB, a leader in wave energy technology, announced plans for a 2 MW wave energy project at Port Adriano, Mallorca, following a recent site visit by CEO Inna Braverman. This marks Eco Wave Power's first project in Spain, aiming to provide clean electricity for the marina. The initiative aligns with Spain's climate goals of 74% renewable energy by 2030. The project will start with a feasibility study, progressing to construction anticipated within 18 to 24 months. Port Adriano has expressed interest in investing in the project, which has a 20-year operational lifespan.

Eco Wave Power Global AB (publ) (Nasdaq: WAVE) announced a shift in its communication strategy, effective May 10, 2022, by providing information exclusively in English. This decision aims to cater to the growing interest from international investors outside of Sweden, especially after its recent listing on the Nasdaq Capital Market in the U.S. Eco Wave Power is recognized for its innovative onshore wave energy technology, contributing to clean electricity generation and combating climate change.

Eco Wave Power Global AB (publ) (Nasdaq: WAVE) has filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC. The report includes audited consolidated financial statements and is accessible on both the SEC's website and the Company's site. Eco Wave Power is recognized for its innovative technology in converting ocean waves into green energy, contributing to climate change efforts. The Company has received various recognitions and funding from reputable organizations, including the European Union and the United Nations.

Eco Wave Power has agreed with Port Adriano, Spain, to potentially construct a 2MW wave energy power plant. This initiative aims to enhance Eco Wave's European footprint and support Spain's renewable energy goals, targeting a 74% share of renewables in electricity generation by 2030. The project will take place in two stages, with Port Adriano having the right of first refusal for investment. Eco Wave Power is poised to play a significant role in transforming Spain's energy landscape, leveraging its extensive coastline for wave energy production.

Eco Wave Power Global AB (WAVE) announced that its CEO, Inna Braverman, testified before a New Jersey Legislature hearing on wave energy on March 17, 2022. The Assembly Special Committee discussed wave energy's potential to enhance New Jersey's clean energy initiatives, highlighting its efficiency compared to solar and wind. Professor Muhammad R. Hajj emphasized that wave energy could address space limitations while providing significant power. Braverman noted that wave energy can meet 66% of U.S. energy needs and can significantly reduce CO2 emissions if implemented in New Jersey, aiming to integrate it into the state's Energy Master Plan.

Eco Wave Power Global AB (WAVE) is progressing its wave energy initiatives in New Jersey, with plans for a pilot project to enhance renewable energy sources in the state. During a ceremony on January 20, Assemblyman Robert J. Karabinchak expressed intent to introduce legislation promoting wave energy. A site visit occurred on March 11 to assess locations for potential deployment. A discussion involving Eco Wave Power and other marine energy firms is scheduled for March 17, aimed at integrating wave energy into New Jersey's Energy Master Plan, potentially leading to job creation and economic growth.

Eco Wave Power Global AB (WAVE) announced its sponsorship of Israeli athletes Vanessa Allouche and Ulfat Haider in the Sahraouiya "Women Challenge for Solidarity" competition in Morocco, held from February 26 to March 5, 2022. This event features 80 participants from Europe and Africa and promotes female empowerment and peace. Funds won will support the Jaffa Institute, aiding disadvantaged children in Israel. Eco Wave Power aims to advance clean energy solutions while fostering community support.

Eco Wave Power Global AB (Nasdaq: WAVE) plans to relocate its energy conversion unit from Gibraltar to AltaSea in Los Angeles following a successful overhaul. This decision comes as Eco Wave Power seeks to expand its presence in the U.S. market, bolstered by nearly six years of operations in Gibraltar, where it achieved over 49,632 grid connection hours. The company reduced its operational costs significantly from 18% to 3.2% of Capex between 2017 and 2021. Eco Wave Power is preparing for future projects, including a pilot at AltaSea, and enhancing its technology for compliance with U.S. standards.