Welcome to our dedicated page for Eco Wave Power Global AB (publ) American Depositary Shares news (Ticker: WAVE), a resource for investors and traders seeking the latest updates and insights on Eco Wave Power Global AB (publ) American Depositary Shares stock.
Eco Wave Power Global AB (publ) (WAVE) is an innovative wave power developer headquartered in Israel and listed on Nasdaq Capital Market. The company is known for its proprietary, patented technology that converts ocean and sea waves into clean electricity. Eco Wave Power's mission is to combat climate change by providing commercial wave energy solutions that are environmentally and economically viable.
Established after extensive conceptualization and planning, Eco Wave Power stands out with proprietary technology that utilizes point absorber floating devices, or floaters, installed on existing marine structures. This technology has been recognized by Frost & Sullivan with the Product Innovation Award in 2012 for addressing significant challenges in the wave energy sector.
The company has a geographical presence in Israel, the USA, and Mexico. Its latest achievements include the completion of the grid-connected EWP-EDF One project in the Port of Jaffa, Israel, with a 100KW installed capacity. This project marks the first time in Israeli history that wave-generated electricity has been sent to the national grid.
Eco Wave Power is also expanding its footprint in the United States, with a pilot station at AltaSea in the Port of Los Angeles. This project is poised to become the first onshore wave energy pilot station in the U.S., aligning with California's legislative push for wave and tidal energy evaluation.
Furthermore, the company has a strong financial foundation, bolstered by funding from the European Union Regional Development Fund, Innovate UK, and the European Commission's Horizon 2020 framework program. Recently, Eco Wave Power was awarded a £1.5 million grant as part of a consortium to develop a pilot microgrid project for a remote island in Thailand.
Eco Wave Power continues to secure strategic partnerships and commercial agreements, underscored by its recent collaboration with a major energy company to conduct feasibility studies for commercial onshore wave energy stations globally. The company’s projects pipeline totals 404.7 MW, including forthcoming installations in Portugal and other European locations.
In addition to its technological advancements, Eco Wave Power’s leadership is actively engaged in global initiatives. CEO Inna Braverman has been recognized for her contributions to clean energy and will be featured in a UN interactive art exhibition celebrating women leaders driving progress towards the Sustainable Development Goals (SDGs).
With a robust project pipeline, strategic partnerships, and innovative technology, Eco Wave Power is positioned to be a key player in the renewable energy market, contributing significantly to the global shift towards sustainable energy solutions.
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