Swedish-Israeli wave energy developer Eco Wave Power has selected Vastor Securities as a certified adviser for the company.

Eco Wave Power entered into an agreement to appoint Vator Securities a certified adviser on 1 January 2022.

Up until then, FNCA will continue to act as a certified adviser for the company, Eco Wave informed.

Eco Wave Power
Eco Wave Power’s Gibraltar wave power plant (Courtesy of EWP)

At the beginning of the month, the company posted a larger net loss for the first nine months of 2021, as compared to the same period a year earlier.

The wave energy firm recorded a rise in revenues for the period, earning $31,000 from feasibility study services in Asia. The company did not post any revenues for the same period last year.

Inna Braverman, founder and CEO of Eco Wave Power, said back then: “In the recent quarters we have achieved progress in terms of financially reinforcing the capital position of our company, we have strengthened our management team, seen progress with the Portugal APDL project and the EWP-EDF One Project, while adding new collaborations to our planned projects pipeline. We have also showed strong presence in COP26, and received global recognition“.

The publicly-traded company is recognized as a “Pioneering Technology” by the Israeli Ministry of Energy and was labelled as an “Efficient Solution” by the Solar Impulse Foundation.

Eco Wave Power’s project in Gibraltar has received funding from the European Union Regional Development Fund and the European Commission’s Horizon 2020 framework program. The company has also received the “Global Climate Action Award” from the United Nations.

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