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.
On September 22, 2022, New Jersey's Assembly Committee unanimously advanced the Wave Energy Bill initiated by Assemblyman Robert Karabinchak and sponsored by Senator Andrew Zwicker. This legislation aims to explore wave energy deployment in New Jersey, encouraging public-private partnerships and financial incentives. The bill is set to be introduced to the Senate by September 29. Governor Phil Murphy allocated $500,000 for a pilot wave energy project, positioning New Jersey as a potential leader in marine energy.
Eco Wave Power Global AB (WAVE) will release its financial results for the first half of 2022 on September 27, 2022, after Nasdaq market close. A conference call hosted by CEO Inna Braverman is scheduled for September 28, 2022, at 9 a.m. ET. Participants can join via dial-in or webcast. The company is focused on wave energy technology and is finalizing a project in Israel with a 327.7MW project pipeline. Eco Wave Power aims to combat climate change by converting ocean waves into energy.
Eco Wave Power Global AB (Nasdaq: WAVE) announced that founder and CEO Inna Braverman will speak at the University of Haifa's Art and Science reception on September 15, 2022, at 6 PM NYC time. The event, hosted by philanthropist Tzili Charney, will feature remarks from dignitaries including Ambassador Asaf Zamir and Tel Aviv Mayor Ron Huldai. Braverman, who recently received an honorary fellowship from the university, will also attend the CODE Conference in Los Angeles and Calcalist's Mind the Tech NY Conference later in September.
Eco Wave Power Global AB (WAVE) announced that CEO Inna Braverman will speak at Calcalist's Mind the Tech NY Conference on September 14-15, 2022, in New York City. This event unites top tech leaders from Israel and the U.S. for critical discussions. Braverman will participate in an exclusive Women Entrepreneurship Roundtable, sharing insights from her journey with Eco Wave Power. The company is known for its innovative wave energy technology and has significant projects in its pipeline, including a grid-connected project in Israel.
Eco Wave Power, listed on Nasdaq as WAVE, announced that CEO Inna Braverman will speak at the prestigious Code Conference from September 6-8, 2022, in Los Angeles. This conference attracts top leaders in tech and sustainability, including Amazon's Andy Jassy and Apple's Tim Cook. Braverman will participate in a panel focused on climate technology, sharing insights on harnessing wave energy, which could potentially generate 66% of U.S. electricity. The company is advancing with projects in Israel and Los Angeles, aiming to combat climate change through innovative wave energy solutions.
Eco Wave Power Global AB (WAVE) announced a Feed-in Tariff (FIT) established by the Israeli Electric Authority for its EWP-EDF One Project at the Port of Jaffa. This marks Israel's first-ever wave-generated electricity connecting to the national grid. The project is co-funded by EDF Renewables IL and the Israeli Energy Ministry, which recognized the technology as pioneering. Additionally, Eco Wave will begin installing its wave energy technology at AltaSea in Los Angeles and holds agreements for projects in Spain and Portugal, growing its project pipeline to 327.7 MW.
The annual general meeting of Eco Wave Power Global AB was held on June 30, 2022, where several resolutions were passed. Key decisions included adopting the 2021 profit and loss statement without dividend distribution, re-electing board members, and approving SEK 900,000 in board fees. Two authorizations for capital increases were granted in light of potential takeover bids. Also, changes were made to warrant terms, extending their exercise period to 2032 and 2027. The meeting emphasized Eco Wave Power's commitment to green energy and its ongoing initiatives.
Eco Wave Power has joined 150 companies, collectively worth 1 trillion euros, at the UN Ocean Conference in Cascais, Portugal. By signing the UN Global Compact Sustainable Ocean Principles, Eco Wave Power commits to integrate ocean sustainability into its strategy. The event underscores the private sector's role in supporting Sustainable Development Goal 14, emphasizing the importance of healthier oceans for food security and climate mitigation.
Eco Wave Power announced that its Founder and CEO, Inna Braverman, will speak at The Atlantic's The Next Scientific Revolution event on June 28, 2022, in New York. The event will focus on scientific advancements and their implications for a sustainable future. Braverman will participate in a panel discussing energy solutions for a greener tomorrow, alongside other innovators. Eco Wave Power specializes in transforming ocean waves into renewable energy and is recognized for its pioneering technology in this field. Registration is free and available online.
Eco Wave Power Global AB (Nasdaq: WAVE) released its Annual Report 2021, detailing advancements in wave energy technology aimed at combating climate change. The company is recognized as a Pioneering Technology by the Israeli Ministry of Energy and has secured funding from the EU for its Gibraltar project. The report highlights the company's commitment to green electricity production and its accolades, including the Global Climate Action Award from the United Nations. The full report is accessible in both English and Swedish.
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