Eco Wave Power
Naventus Corporate Finance AB is a financial advisor in connection with the issue.
Eco Wave Power announces initial public offering in connection with listing on Nasdaq First North Stockholm and publishes prospectus
Company in short
Eco Wave Power is a Swedish company founded in Tel Aviv, Israel, 2011 that has developed a patented, smart and cost-efficient technology for extracting clean energy from ocean and sea waves. Eco Wave Power is offering a technology being the only company in the world with a nationally grid connected wave energy array, operating in accordance with a Power Purchase Agreement (PPA).
The technology has several advantages:
- The technology is easy to build and fully modular, which makes it easy to scale up.
- Cost effective – total CAPEX is approximately EUR 1.8 million per MW (where the system and components correspond to about 50 per cent the cost).In commercial scale, the LCOE* is competitive at EUR 42/ MWh (SEK 0.45/kWh).
- Land-based wave power technology, which means with low installation, maintenance and transmission cost related to deliver electricity to the grid.
- Fully insurable for i.a. damage protection, provided by global reputable insurance companies.
- Limited environmental impact – due to primarily connecting the system to existent man-made structures
- Minimized data collection costs
Eco Wave Power’s technology has been well received by the market, which is highlighted by the Company’s190 MW project pipeline.
The Company is now ready for commercial take-off initiated by the expansion of the operative power station in Gibraltar to 5 MW as well as installing a new 10 MW power station in the UK.
Eco Wave Power has four approved patents, including a storm protection mechanism, and nine ongoing patent application. Additional patents are under development.
Nordnet Bank AB and Avanza Bank AB acts as selling agents in the transaction.