Eco Wave Power Secures $3 Million to Expand Wave Energy Ventures
Eco Wave Power Secures $3 Million to Expand Wave Energy Ventures
Eco Wave Power Global AB (publ), listed on Nasdaq under the ticker WAVE, recently announced a significant achievement in its journey toward revolutionizing renewable energy. The company successfully completed a $3 million registered direct offering involving 300,000 American Depositary Shares (ADSs), with each ADS representing eight common shares of the firm, priced at $10.00 per share. This funding will play a crucial role in propelling Eco Wave Power’s initiatives, particularly its first commercial-scale wave energy installation in Portugal.
Pioneering Wave Energy Technology
As a recognized leader in onshore wave energy technology, Eco Wave Power has made substantial strides in harnessing ocean and sea waves to generate clean, sustainable electricity. Notably, the company operates Israel’s first grid-connected wave energy system, a project co-funded by EDF Renewables IL and the Israeli Energy Ministry. This innovative technology has garnered accolades, being classified as a
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