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Eco Wave Power Global (NASDAQ:WAVE) Stock, Option Chain

Eco Wave Power Global

Eco Wave Power Global AB is a Sweden-based wave energy company engaged in the development of a smart and cost-efficient WEC, technology that converts ocean and sea waves into clean electricity. Its WEC technology employs units of point absorber floating devices, referred to as floaters, which are installed on existing marine structures such as piers, breakwaters, and jetties, or in locations in which such marine structures are required. Geographical presence in Israel, USA and Mexico.

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Eco Wave Power Global AB inaugurates Israel&#39;s first pilot station for generating electricity from sea waves, promoting innovation and sustainability.

EXCLUSIVE: Eco Wave Power, EDF Renewables IL And Tel Aviv Partner To Launch Israel&#39;s First Wave Energy Power Plant At Jaffa Port

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Why Symbotic Shares Are Trading Higher By Over 28%; Here Are 20 Stocks Moving Premarket

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Eco Wave Power Global shares are moving higher on Monday after the company announced it received the final Nationwide Permit from the U.S. Army Corps of Engineers.

What&#39;s Going On With Eco Wave Power Global Shares Monday?

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Eco Wave Power Global AB

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Eco Wave Power Global AB (publ) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WAVE#NASDAQ">WAVE</a>) ("Eco Wave Power" or the "Company"), a leader in the onshore wave energy technology sector, is pleased to announce that it has engaged MOQ Engineering ("MOQ"), a renowned Portuguese engineering firm, to perform the final design and load calculations for its pioneering wave energy project in Porto, Portugal. This work represents a key milestone in the project's advancement and positions the project for a targeted launch during 2026.
The project is a part of a 20 MW Concession Agreement entered into with Administração dos Portos do Douro, Leixões e Viana do Castelo, S.A. (APDL), which is located in the city of Porto. It will feature Eco Wave Power's proprietary wave energy technology and includes a first-of-its-kind underwater wave energy museum and education centre, set to be housed in "The Gallery" – the room underneath the breakwater where the Company's energy conversion equipment will be installed. The innovative project aligns with Portugal's renewable energy goals, aiming to generate 85% of its electricity from renewable sources by 2030.
The collaboration with&nbsp;MOQ will focus on delivering the final civil engineering design and detailed load calculations for the floaters, which are key components of Eco Wave Power's innovative wave energy conversion system. These calculations and designs will be ensuring the safe and efficient installation of the floaters on the marine structure at the project site. This phase of work is scheduled for completion by February 2025.
Upon completion of MOQ's scope of work, Eco Wave Power will submit the full execution project, including all finalized engineering and technical specifications, to APDL. The approval of the execution project by APDL will mark the transition to the next phase of the project: the production of the floaters and accompanying structural components.
The first MW-scale wave energy project in Porto will demonstrate significant energy production from ocean waves and serve as a critical step towards the commercialization of Eco Wave Power's technology globally. In addition to its environmental impact, the project is expected to reduce the port's carbon footprint, create new jobs, and contribute to Portugal's innovative renewable energy industry.
Eco Wave Power is also advancing additional projects globally, including upcoming initiatives in Taiwan and the Port of Los Angeles. Moreover, the Company plans to announce new projects in additional countries, further expanding its footprint in the wave energy sector and reinforcing its position as a leader in renewable energy innovation.

Global

Eco Wave Power Engages MOQ For Wave Energy Project Design In Porto, Portugal; Part Of 20 MW Concession With APDL, Featuring Underwater Energy Museum; Targeted 2026 Launch

Offerings

Eco Wave Power Prices $3M Registered Direct Offering Of 300K ADSs At $10 Each To Advance Commercial-Scale Wave Energy Deployment

Eco Wave Power To Inaugurate Israel's First Wave Energy Project Tomorrow In Collaboration With EDF Renewables, Marking A Milestone In Sustainable Energy Transition

On Tuesday, Eco Wave Power Global AB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WAVE#NASDAQ">WAVE</a>) announced that Eco Wave Power and EDF Renewables IL, in collaboration with the Tel Aviv-Yafo Municipality and the municipal company Atarim, will inaugurate Israel&#8217;s first pilot station for generating electricity from sea waves on Thursday, December 5, at Warehouse 2 in Jaffa Port. This global project combines innovation, sustainability, and the fight against climate change.
The launch marks a significant step toward reducing greenhouse gas emissions and advancing sustainable energy, reinforcing Tel Aviv-Yafo&#8217;s status as a global innovation leader.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42171519/snowflake-elastic-poised-for-ai-revolution-gains-analyst-upgrades-the-stocks" rel="noreferrer noopener">Snowflake, Elastic Poised For AI Revolution Gains, Analyst Upgrades The Stocks</a>
The event will include a formal inauguration by Tel Aviv-Yafo Mayor Ron Huldai and a reception at Warehouse 2 in Jaffa Port with senior energy officials, investors, and strategic partners.
The Eco Wave Power project was built in collaboration with EDF Renewables Israel, supported by the Chief Scientist of the Ministry of Energy (which recognized the company&#8217;s technology as &#8220;Pioneering Technology&#8221;) and Tel Aviv-Yafo Municipality.
Eco Wave Power founder and CEO Inna Braverman said the project at Jaffa Port represents a historic milestone in the global renewable energy journey, proving that sea waves can be a viable, clean, and consistent source of electricity.
EDF Renewables Israel CEO Ayalon Vaniche said the partnership with Eco Wave led to the formation of a pilot that harnesses wave energy to produce clean electricity. EDF Group expressed its strong interest in assessing the potential of this new technology as part of its broad interest in marine energies.
The project is located within Atarim&#8217;s Blue Economy Innovation Hub at the Jaffa Port, alongside other cutting-edge marine innovation technologies.
Eco Wave Power founder and CEO Inna Braverman leads the company and the project. Braverman is a graduate of the &#8220;Women for Climate&#8221; program by the international C40 Cities organization, which Tel Aviv-Yafo is a member of. 
The Women for Climate program empowers women to lead environmental and sustainability projects addressing urban climate challenges. 
Price Action: WAVE stock closed higher by 14.7% at $11.57 on Monday.
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EXCLUSIVE: Eco Wave Power, EDF Renewables IL And Tel Aviv Partner To Launch Israel's First Wave Energy Power Plant At Jaffa Port

Market-Moving Exclusives

EXCLUSIVE: Eco Wave Power Tells Benzinga Co. And EDF Renewables IL, In Collaboration With Tel Aviv-Yaho Municipality And Atarim, Will Inaugurate Israel's First Pilot Station For Generating Electricity From Sea Waves At Warehouse 2 In Jaffa Port

Earnings

Eco Wave Power Global Q3 EPS $(0.012) Down From $(0.004) YoY

Shares of Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) rose sharply in today's pre-market trading after the company reported <a href="https://www.benzinga.com/news/earnings/24/11/42049125/symbotic-stock-rallies-after-strong-q4-results-details">better-than-expected fourth-quarter financial results.</a>
Symbotic reported quarterly earnings of five cents per share, which beat the analyst consensus estimate of three cents. Quarterly revenue came in at $576.76 million, which beat the analyst consensus estimate of $470.27 million and is an increase over sales of $391.88 million from the same period last year.
Symbotic shares jumped 28.6% to $39.30 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>PainReform Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRFX#NASDAQ">PRFX</a>) gained 165.4% to $1.42 in pre-market trading. PainReform announced a 1:4 reverse share split of the company&#8217;s ordinary shares will take effect after the closing bell on Wednesday, Nov. 20.</li>
<li>noco-noco Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNC#NASDAQ">NCNC</a>) rose 115.5% to $0.2090 in pre-market trading after gaining around 9% on Monday.</li>
<li>TFF Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TFFP#NASDAQ">TFFP</a>) gained 49.9% to $0.5457 in pre-market trading. TFF Pharmaceutical recently announced it will wind down its operations.</li>
<li>Volato Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOAR#NYSE">SOAR</a>) gained 49.4% to $0.3153 in pre-market trading. Volato Group shares gained around 4% on Monday after the company reported a year-over-year increase in third-quarter financial results.</li>
<li>HCW Biologics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCWB#NASDAQ">HCWB</a>) gained 33.9% to $1.66 in pre-market trading. HCW Biologics announced a $6.9 million direct offering and private placement priced above market.</li>
<li>Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) gained 18.7% to $2.84 in pre-market trading after dipping 23% on Monday. The company recently disclosed a securities purchase agreement to sell 16 million shares of common stock at $2.50 per share in a registered direct offering.</li>
<li>J-Long Group Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JL#NASDAQ">JL</a>) gained 13.8% to $0.42 in pre-market trading after declining around 4% on Monday.</li>
<li>Zenvia Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENV#NASDAQ">ZENV</a>) climbed 13.7% to $1.32 in pre-market trading after the company posted third-quarter results.</li>
<li>Fresh2 Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRES#NASDAQ">FRES</a>) gained 9.5% to $1.0400 in pre-market trading.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Hanmi Financial Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAFC#NASDAQ">HAFC</a>) shares tumbled 20.9% to $20.24 in pre-market trading.</li>
<li>Guardian Pharmacy Services, Inc. (NYSE: GRDN fell 20.7% to $16.96 in pre-market trading.</li>
<li>Helius Medical Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSDT#NASDAQ">HSDT</a>) shares fell 16.5% to $0.40 in pre-market trading. Helius Medical Technologies shares dipped around 9% on Monday after the company announced it initiated the process to explore a range of strategic alternatives.</li>
<li>Eco Wave Power Global AB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WAVE#NASDAQ">WAVE</a>) shares fell 15.1% to $8.01 in pre-market trading. Eco Wave Power Global shares jumped around 44% on Monday after the company announced it received the final Nationwide Permit from the U.S. Army Corps of Engineers.</li>
<li>AtlasClear Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATCH#NYSE">ATCH</a>) dipped 14.9% to $0.1870 in pre-market trading. AtlasClear shares jumped 22% on Monday higher after the company reported a year-over-year increase in first-quarter financial results.</li>
<li>Flushing Financial Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) declined 12.2% to $15.25 in pre-market trading.</li>
<li>Eterna Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERNA#NASDAQ">ERNA</a>) fell 12.1% to $0.6036 in pre-market trading after dipping 18% on Monday.</li>
<li>Enveric Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVB#NASDAQ">ENVB</a>) fell 11.2% to $0.3135 in pre-market trading after declining around 5% on Monday.</li>
<li>CleanCore Solutions, Inc. (NYZE: ZONE) shares dipped 9.4% to $1.55 in pre-market trading. CleanCore Solutions recently announced the launch of a pilot program with an international hotel chain.</li>
<li>Incyte Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INCY#NASDAQ">INCY</a>) fell 10.3% to $68.98 in today's pre-market trading after the company issued an update on early Phase MRGPRX2 and MRGPRX4 programs.</li>
</ul>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42035732/jim-cramer-super-group-basic-materials-stock-is-very-hard-to-own-here">Jim Cramer: Super Group Finally &#8216;Broke Out,&#8217; This Basic Materials Stock Is &#8216;Very Hard To Own Here&#8217;</a></li>
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Eco Wave Power Global AB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WAVE#NASDAQ">WAVE</a>) shares are moving higher on Monday after the company announced it received the final Nationwide Permit from the U.S. Army Corps of Engineers. Here&#8217;s what you <a href="https://www.benzinga.com/government/regulations/24/11/42032816/exclusive-eco-wave-power-gets-green-light-from-us-army-for-first-onshore-wave-energy-project-in-la">need to know</a>.
What To Know: The permit is in regard to the company&#8217;s wave energy project at AltaSea&#8217;s premises at the Port of Los Angeles. It allows Eco Wave Power to install eight wave energy floaters on the piles of an existing concrete wharf structure located on the east side of Municipal Pier One.
Furthermore, the system will feature an energy conversion unit made up of two 20-foot shipping containers, which are already located on-site and will be linked to the wave energy floaters.
&#8220;We are thrilled to receive this final permit and move one step closer to bringing wave energy to the U.S.,&#8221; said&nbsp;Inna Braverman, Founder and CEO of&nbsp;Eco Wave Power.
&#8220;This project represents not only a technological breakthrough but also a crucial step in advancing the global transition to renewable energy. We are deeply grateful for the support of AltaSea, the Port of&nbsp;Los Angeles, Shell MRE, and the U.S. Army Corps of Engineers as we work to make wave energy a key part of the sustainable energy landscape.&#8221;
The company plans to have the installation finished by the end of the 2025 first quarter.
How To Buy Eco Wave Power Global Shares
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Eco Wave Power Global&#8217;s case, it is in the Utilities sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
See Also: <a href="https://www.benzinga.com/24/11/42032477/spirit-airlines-eyes-financial-stability-with-chapter-11-filing-and-equity-injection">Spirit Airlines Eyes Restructuring With Chapter 11 Filing And Equity Injection</a>
WAVE Price Action: At the time of writing, Eco Wave Power Global shares are moving 36.1% higher at $9.13, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: 1081412 from Pixabay.

What's Going On With Eco Wave Power Global Shares Monday?

WIIM

Eco Wave Power Global shares are trading higher after the company announced it received the final Nationwide Permit from the U.S. Army Corps of Engineers.

With the conversion unit already shipped and located on site, Eco Wave Power plans to complete installation by the end of Q1 2025.

Contracts

Eco Wave Power Receives Final Permit From U.S. Army Corps Of Engineers For U.S. First Wave Energy Project

On Monday, Eco Wave Power Global AB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WAVE#NASDAQ">WAVE</a>) announced it had received the final Nationwide Permit (NWP) from the U.S. Army Corps of Engineers for its groundbreaking wave energy project at AltaSea&#8217;s premises at the Port of Los Angeles.
According to the company, this marks a significant step forward in developing Eco Wave Power&#8217;s wave energy project, which will likely become the first onshore wave energy installation in the United States.
The permit, issued under NWP 52 for Water-Based Renewable Energy Generation Pilot Projects, authorizes Eco Wave Power to install eight wave energy floaters on the piles of an existing concrete wharf structure on the east side of Municipal Pier One.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/regulations/24/11/42015847/meta-wants-to-fight-back-order-allowing-states-and-schools-to-sue-over-social-media-addiction" rel="noreferrer noopener">Meta Wants To Fight Back Order Allowing States and Schools To Sue Over Social Media Addiction</a>
The system will also include an energy conversion unit comprised of two 20-foot shipping containers, which will be placed on the wharf deck and connected to the floaters.
With the conversion unit already shipped and located on-site, Eco Wave Power plans to complete installation by the end of the first quarter of 2025.
In addition to securing the final permit, this achievement marks the completion of two key milestones under Eco Wave Power&#8217;s agreement with Shell International Exploration and Production Inc, which will likely boost the company&#8217;s revenues in fourth-quarter of 2024
The agreement between the parties was announced in April 2024. According to the agreement, Eco Wave Power and Shell will collaborate to develop a wave energy pilot in the Port of Los Angeles.
Now, with the permit in place, the parties will enter the project&#8217;s execution phase as per the agreement&#8217;s terms.
Inna Braverman, CEO and Founder of Eco Wave Power emphasized that this project is a pivotal technological advance and an essential move toward accelerating the shift to renewable energy.
The U.S. Department of Energy&#8217;s National Renewable Energy Laboratory estimates that wave energy can generate over 1,400 terawatt-hours annually to power approximately 130 million homes.
With this project, Eco Wave Power is advancing the commercialization of wave energy as a reliable and clean renewable power source, further strengthening its position as a leader in the industry.
In November, Eco Wave Power named Ran Atias Vice President of Engineering at the company&#8217;s <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n41714843/eco-wave-power-strengthens-management-appoints-new-vice-president-of-engineering-to-accelerate-exe" rel="noreferrer noopener">Tel Aviv headquarters</a>.
Atias has extensive experience managing complex projects across industries like automotive, defense, and robotics and aims to enhance engineering efficiency and speed up project timelines, the company said.
The company is advancing three new projects in the U.S., Taiwan, and Portugal, expecting Atias to play a strategic role in scaling its technology and accelerating growth.
Price Action: WAVE stock closed lower by 1.80% at $6.56 at Friday.
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</ul>
Photo via Company

Government

Regulations

EXCLUSIVE: Eco Wave Power Gets Green Light From US Army For First Onshore Wave Energy Project In LA

EXCLUSIVE: Eco Wave Power Tells Benzinga Co. Receives Final Permit From U.S. Army Corps Of Engineers For U.S. First Wave Energy Project At Port Of Los Angeles

The Project is Expected to Commence with a Landmark 100KW Pilot Project, and Gradually Expand to 20MW, Followed by an Ambitious Target of 400MW of Commercial Capacity on the Taiwanese Coastline.

Eco Wave Power Signs Wave Energy Power Station Sale Agreement With Taiwanese Lian Tat For First Onshore Wave Energy Project In Asia; I-Ke Providing Full Financing For 100KW Pilot Project

Eco Wave Power Global AB Files For Offering Of Up To 1.83M ADS By The Selling Shareholders

As of Aug 30, 2024, three stocks in the utilities sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Eco Wave Power Global AB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WAVE#NASDAQ">WAVE</a>)</h3>
<ul>
<li>On Aug. 8, Eco Wave Power received green light for the repurchase of 10% of its American Depositary Shares. The company's stock gained around 40% over the past month and has a <a href="https://www.benzinga.com/quote/WAVE">52-week high of $4.94</a>.</li>
<li>RSI Value: 70.67&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>WAVE Price Action: Shares of Eco Wave Power Global gained 1.5% to close at $4.16 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">WEC Energy Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEC#NYSE">WEC</a>)</h3>
<ul>
<li>On July 31, WEC Energy posted better-than-expected quarterly earnings. &#8220;Despite the warmest winter on record, we&#8217;re delivering solid results, and we&#8217;re firmly on track for a strong 2024,&#8221; said Scott Lauber, president and CEO. &#8220;We&#8217;re focused on the fundamentals of our business — financial discipline, customer satisfaction and operating efficiency.&#8221; The company's stock gained around 8% over the past month and <a href="https://www.benzinga.com/quote/WEC">has a 52-week high</a> of $93.78.</li>
<li>RSI Value: 75.32</li>
<li>WEC Price Action: Shares of WEC Energy fell 0.02% to close at $92.77 on Thursday.</li>
</ul>
<h3 class="wp-block-heading">PG&amp;E Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>)</h3>
<ul>
<li>On July 25, PG&amp;E posted better-than-expected quarterly earnings. &#8220;We&#8217;re delivering for our customers and hometowns today through a foundation of safe operations, wildfire risk reduction and solid financial progress. We also see a bright future where we lower average household energy costs, including from transportation, and further cut carbon emissions,&#8221; said PG&amp;E Corporation CEO Patti Poppe. The company's stock gained around 7% over the past month and has a <a href="https://www.benzinga.com/quote/PCG">52-week high</a> of $19.84.</li>
<li>RSI Value: 75.64</li>
<li>PCG Price Action: Shares of PG&amp;E gained 3.7% to close at $19.60 on Thursday.</li>
</ul>
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Short Ideas

Top 3 Utilities Stocks You May Want To Dump In August

Eco Wave Power Global AB (publ) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WAVE#NASDAQ">WAVE</a>) ("Eco Wave Power" or the "Company"), a leading, publicly traded onshore wave energy company, is pleased to announce that following its official request, submitted to the&nbsp;Swedish Financial Supervisory Authority (the "SFSA") on the 21st of December, 2023, for authorization for the repurchase&nbsp;of&nbsp;American Depositary Shares (the "ADS") representing up to 10 percent of the total number of shares in the Company, the SFSA responded that in its opinion, the ADS are not considered equivalent to shares in accordance with Chapter 19 of the Swedish Companies Act. As a result, the Company should be able to repurchase ADSs, in accordance with Swedish law.
In accordance with this decision, Eco Wave Power will enter into relevant agreements with a bank for the execution of any necessary steps related to the buyback.

Buybacks

Eco Wave Power Receives Green Light For The Repurchase Of ~10% Of Its American Depositary Shares

Eco Wave Power Global AB (publ)&nbsp;(Nasdaq Capital Market: WAVE) ("Eco Wave Power" or the "Company"), a leading, publicly-traded onshore wave energy technology company, is pleased to announce that Inna Braverman, Founder and Chief Executive Officer of Eco Wave Power, and Eco Wave Power's engineering team, have arrived for a meeting and an official site-visit with APDL (Administração dos Portos do Douro, Leixões e Viana do Castelo, S.A), and other relevant stakeholders for the official kickoff of the Company's first MW-scale wave energy project, to be located in the city of Porto, in Portugal.
&nbsp;
Following the meeting with APDL, Eco Wave Power's engineering team held a site visit to the breakwater and the room underneath the breakwater ("The Gallery"), where Eco Wave Power's energy conversion equipment will be installed, and later opened to the public, as a first of its kind wave energy museum and education center.
&nbsp;
During the site visit, Eco Wave Power's team met with local subcontractors and manufacturers, to choose the preferred entities that will take part in the execution of this innovative project.
&nbsp;
Inna Braverman, Founder and Chief Executive Officer of Eco Wave Power said: "We believe that this will be the first wave energy project in the world to show significant energy production from the power of the waves. I truly believe that this revolutionary project will position Eco Wave Power as a leading wave energy developer and serve as a significant milestone towards the commercialization of our wave energy technology globally. I would like to thank the Municipality of Porto and APDL, for being true wave energy pioneers, by enabling and supporting the development of an innovative, environmentally friendly energy generation technology, which will serve to lower the port's carbon footprint, while creating new workplaces and an innovative industry in Portugal."
&nbsp;
The first MW project is being executed in line with a 20MW Concession Agreement entered into with APDL and is planned to be followed by a gradual expansion to the whole 20MW of installed capacity.
&nbsp;
In March 2024, the Company received the final approval necessary for the commencement of the construction works of our first commercial-size project in Porto (TURH license) from APDL Port Authority, and issued a performance bond to APDL, meant to solidify the Company's commitment for the construction of the first commercial wave energy project within a 2-year period.
&nbsp;
Eco Wave Power's project is well in line with the renewable energy plan of the Government of Portugal, as in July, 2024, Portugal announced that it aims to generate 85% of its annual electricity production from renewable sources by 2030, compared to 61% in 2023, one of the highest ratios in Europe.
&nbsp;
Eco Wave Power is being advised by partner Joana Brandão and her team from leading Portuguese law firm PLMJ. Joana and the firm have significant experience in supporting the regulatory framework for renewable energy projects execution across Portugal and have been assisting Eco Wave Power since 2020.
&nbsp;

Eco Wave Power Officially Kicks Off the First MW Scale Wave Energy Project In Portugal

Eco Wave Power Announces Official Kickoff Of First MW-Scale Wave Energy Project In Porto, Portugal; Founder Inna Braverman And Engineering Team Conduct Site Visit With APDL And Stakeholders; Project To Include Public Wave Energy Museum And Education Center

Shares of Kaival Brands Innovations Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KAVL#NASDAQ">KAVL</a>) fell sharply during Friday's session after the company announced pricing of $6.0 <a href="https://www.benzinga.com/quote/KAVL/news">million public offering</a>.
Kaival Brands priced its 3,921,500 unit offering at $15.3 per unit.
Kaival Brands Innovations Group shares dipped 47% to $1.52 on Friday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>American Rebel Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AREB#NASDAQ">AREB</a>) shares jumped 161% to $0.8048 after the company signed a Connecticut distribution agreement with Dichello Distributors.</li>
<li>Sharecare, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHCR#NASDAQ">SHCR</a>) jumped 74% to $1.35 after the company agreed to be acquired by Altaris affiliate for $1.43 per share in cash.</li>
<li>Spectaire Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPEC#NASDAQ">SPEC</a>) shares surged 73% to $0.5883. The company recently announced a purchase order and delivery of its advanced AireCore units to American Ag Energy.</li>
<li>Minim, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MINM#NASDAQ">MINM</a>) gained 48% to $4.2389.</li>
<li>Sarepta Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) rose 39.2% to $171.89 after the company announced FDA approval of an expansion to the labeled indication for ELEVIDYS to include individuals with Duchenne muscular dystrophy with a confirmed mutation in the DMD gene who are at least 4 years of age. Also, multiple firms raised their respective price targets on the stock.</li>
<li>Mustang Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBIO#NASDAQ">MBIO</a>) gained 36.5% to $0.7661. Mustang Bio recently announced a $2.5 million registered direct offering of 6.130 million shares at $0.41 per share.</li>
<li>Clover Health Investments, Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOV#NASDAQ">CLOV</a>) shares climbed 31% to $1.35 following insider buying from the company's co-founder. After the market close on Thursday, Clover Health filed a Form 4 with the SEC showing that co-founder and executive chair Vivek Garipalli purchased 877,567 shares of Clover Health stock at an average price of $1.14 per share.</li>
<li>Orgenesis Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORGS#NASDAQ">ORGS</a>) rose 29.4% to $0.58.</li>
<li>36Kr Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRKR#NASDAQ">KRKR</a>) gained 26% to $0.4342 after the company announced that it has entered into a strategic partnership with SenseTime.</li>
<li>Qualigen Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLGN#NASDAQ">QLGN</a>) jumped 25% to $0.2196.</li>
<li>Eco Wave Power Global AB (publ) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WAVE#NASDAQ">WAVE</a>) gained 21.3% to $2.68.</li>
<li>Universe Pharmaceuticals INC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPC#NASDAQ">UPC</a>) gained 19.9% to $2.7699.</li>
<li>Nexalin Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXL#NASDAQ">NXL</a>) rose 19% to $1.3150. Nexalin Technology was recently awarded a patent by the USPTO related to its deep intracranial frequency stimulation device for the treatment of Alzheimer&#8217;s and dementia.</li>
<li>Gossamer Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOSS#NASDAQ">GOSS</a>) jumped 17% to $0.6637.</li>
<li>Avid Bioservices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDMO#NASDAQ">CDMO</a>) rose 13.7% to $7.75.</li>
<li>DermTech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DMTK#NASDAQ">DMTK</a>) gained 13.5% to $0.1337 after declining 19% on Thursday. DermTech recently filed for Chapter 11 protection and implemented a 20% workforce reduction to preserve cash.</li>
<li>Asana, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>) rose 13.4% to $12.90 after the company announced a $150 million stock repurchase program.</li>
<li>Trinity Place Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPHS#NYSE">TPHS</a>) shares rose 12.2% to $0.1440 after gaining more than 5% on Thursday.</li>
<li>Cabaletta Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CABA#NASDAQ">CABA</a>) gained 9.1% to $9.09.</li>
<li>ADTRAN Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>) rose 8.7% to $5.65</li>
<li>Hertz Global Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HTZ#NASDAQ">HTZ</a>) climbed 8.6% to $3.8150. The company revealed the upsize and pricing of $1 billion offerings, which comprised $750 million of First Lien Senior Secured Notes, which represents an upsize from the previously announced $500 million.</li>
<li>Zoomcar Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCAR#NASDAQ">ZCAR</a>) rose 7.5% to $0.1570. Zoomcar announced closing of sale of $3.6 million notes private placement.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Psyence Biomedical Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PBM#NASDAQ">PBM</a>) shares dipped 36% to $0.3820 after gaining 6% on Thursday.</li>
<li>Professional Diversity Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPDN#NASDAQ">IPDN</a>) shares fell 23.1% to $0.5012 after dipping around 14% on Thursday.</li>
<li>Reliance Global Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RELI#NASDAQ">RELI</a>) shares fell 22.8% to $0.4668. Reliance Global shares jumped 54% on Thursday after the company announced an institutional investor has redeemed all of its outstanding Series B and Series G warrants.</li>
<li>Professional Diversity Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPDN#NASDAQ">IPDN</a>) dipped 22.5% to $0.5008.</li>
<li>Crown Electrokinetics Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRKN#NASDAQ">CRKN</a>) declined 21.8% to $0.0391 after the company announced a 1-for-150 reverse stock split.</li>
<li>Allurion Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALUR#NYSE">ALUR</a>) fell 21.5% to $2.0399. Allurion Technologies, on Thursday, announced the publication of a new study showing patients on its Allurion Program experienced an average weight loss of 14% and an average lean mass gain of 5.6% over four months.</li>
<li>Brand Engagement Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNAI#NASDAQ">BNAI</a>) fell 20.2% to $2.89.</li>
<li>African Agriculture Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAGR#NASDAQ">AAGR</a>) declined 18% to $0.2376</li>
<li>SMX (Security Matters) Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMX#NASDAQ">SMX</a>) shares fell 17% to $0.1335 after gaining 35% on Thursday.</li>
<li>NANO Nuclear Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) shares fell 13.2% to $13.21 after surging 31% on Thursday.</li>
<li>SmartKem, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTK#NASDAQ">SMTK</a>) fell 12.8% to $5.36.</li>
<li>Molecular Partners AG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOLN#NASDAQ">MOLN</a>) shares dipped 12.3% to $9.66 after jumping over 38% on Thursday.</li>
<li>Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) fell 12% to $5.32.</li>
<li>Cipher Mining Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIFR#NASDAQ">CIFR</a>) declined 11.5% to $4.6350.</li>
<li>Smith &amp; Wesson Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWBI#NASDAQ">SWBI</a>) fell 10.7% to $14.65 after the company reported quarterly earnings.</li>
<li>Abacus Life, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABL#NASDAQ">ABL</a>) shares declined 10.3% to $8.75 as the company priced $80 million public offering of 10 million common stock at $8 per share.</li>
<li>Trex Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TREX#NYSE">TREX</a>) dipped 7.7% to $77.59.</li>
<li>Bloom Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) fell 6.3% to $13.14.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/06/39432562/wall-streets-most-accurate-analysts-spotlight-on-3-tech-and-telecom-stocks-delivering-high-dividend">Wall Street&#8217;s Most Accurate Analysts Spotlight On 3 Tech And Telecom Stocks Delivering High-Dividend Yields</a>

Intraday Update

AAGR

ADTN

ALUR

APLD

AREB

ASAN

BNAI

CABA

CDMO

CIFR

CLOV

CRKN

DMTK

GOSS

IPDN

KAVL

KRKR

MBIO

MINM

MOLN

ORGS

Qualigen Therapeutics, Inc. - Common Stock

QLGN

RELI

SHCR

SMTK

SPEC

SRPT

SWBI

TPHS

TREX

ZCAR

Why Kaival Brands Innovations Shares Are Trading Lower By 47%? Here Are Other Stocks Moving In Friday's Mid-Day Session

Eco Wave Power Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WAVE#NASDAQ">WAVE</a>) reported quarterly losses of $(0.01) per share. This is unchanged from the same period last year.

Eco Wave Power Global Q1 EPS $(0.01), Same YoY

Commodities

Press Releases

Eco Wave Power Announces Q3 Results: Power Station Sale in Taiwan will Boost Q4 Revenues, 83% Energy Goal Reached in Israel, U.S. License Secured, and Shares Buyback Commenced by the Company

Wave of Innovation: Eco Wave Power Debuts Israel's First Wave Energy Project at Jaffa Port

Eco Wave Power Set to Achieve a Significant Milestone Tomorrow with the Opening of Israel's First Wave Energy Project

Wave Energy Milestone: First Grid-Connected Array in the Middle East

Eco Wave Power Announces Pricing of $3.0 Million Registered Direct Offering to Propel Commercial-Scale Wave Energy Deployment

Eco Wave Power Announces Closing of $3.0 Million Registered Direct Offering to Accelerate Commercial-Scale Wave Energy Deployment

Eco Wave Power Appoints Juan Jose Gomez as the Power Station Manager of its Portuguese Project

Inna Braverman to Speak at Imagination In Action 2025: Architects of the Global Future at Davos World Economic Forum

Eco Wave Power's Wave Energy System at Jaffa Port Demonstrates Reliability with 24/7 Power Production

Eco Wave Power Reaches Key Milestone in Portuguese Wave Energy Project, Paving the Way for a 2026 Launch and Global Expansion

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