- Eco Wave Power Global AB WAVE has entered into a collaboration agreement with the Procurement Administration in the Israeli Ministry of Defense for the Israeli Navy to examine the feasibility of installing the Eco Wave Power technology. The financial terms of the contract were not disclosed.
- Eco Wave Power to immediately begin the procurement and deployment of wave measuring systems to collect comprehensive wave data in one to three potential locations in the Navy bases.
- Eco Wave Power will share the information collected with the Israeli Navy at the end of the measurement period.
- Eco Wave Power and the Israeli Navy will jointly analyze the results and create energy production forecasts based on such analysis.
- Price Action: WAVE shares are trading higher by 13.7% at $9.23 on the last check Tuesday.
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