Eco Wave Power Global AB (publ) (NASDAQ: WAVE) witnessed a remarkable surge in its stock valuation during the previous trading session, soaring by an impressive 219.38% to attain a closing price of $4.20. This substantial increase in WAVE stock followed its selection by an energy conglomerate for a significant project.
Eco Wave Power (WAVE) disclosed that it had been chosen by a prominent energy entity to conduct an extensive feasibility analysis aimed at pinpointing optimal sites for commercial onshore wave energy stations in the United States and worldwide, leveraging its proprietary Eco Wave Power technology.
In accordance with the agreement, Eco Wave Power has undertaken a comprehensive three-month feasibility study in the United States and pivotal global regions. The examinations delve into identifying prime locations for commercial installations, meticulously scrutinizing 77 sites along the U.S. coastline for wave availability and suitable marine structures, yielding promising outcomes.
Furthermore, the study proposes a strategic roadmap spanning five and ten years for the commercialization of wave energy. Wave energy stands as a potent means to supply clean, dependable energy to communities and represents a formidable weapon against climate change. Eco Wave Power aims to furnish thorough insights into wave energy to an industry leader exploring diverse avenues for sustainable energy.
Since its inception, Eco Wave Power has profoundly transformed the landscape of ocean energy. Through a decade of unwavering innovation, Eco Wave Power has demonstrated the scalability and reliability of its technology through various power stations. Just a few months ago, Eco Wave Power announced the successful connection of its landmark EWP-EDF One power station at Jaffa Port to the grid, marking the first instance of wave energy powering Israel’s national energy grid.
Additionally, Eco Wave Power maintains a pilot station situated at AltaSea at the Port of Los Angeles. Presently in a static exhibition state, the station is slated for installation in the imminent months, poised to become the inaugural onshore wave energy pilot station in the United States.
