Net loss for the period increased to SEK -6.7 million compared to SEK -3.9 million in the same period in 2021 (USD -0.72 million compared to USD -0.48 million, respectively).Loss per share was SEK -0.15 compared to SEK -0.11 in the same period in 2021 (USD -0.02 compared to USD -0.01, respectively).
As of March 31, 2022, cash and cash equivalents amounted to SEK 127.9 million (USD 13.8 million) and shareholders’ equity amounted to SEK 126.3 million (USD 13.6 million).
Total number of outstanding common shares amounted to 44,394,844 compared to 35,194,844.
For the full interim report in Swedish kronor (SEK), please click here.
For the full interim report presented in USD please click here
About Eco Wave Power Global AB (publ)
Eco Wave Power is a leading onshore wave energy technology company that developed a patented, smart and cost-efficient technology for turning ocean and sea waves into green electricity. Eco Wave Power’s mission is to assist in the fight against climate change by enabling commercial power production from the ocean and sea waves.
Eco Wave Power 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 received funding from the European Union Regional Development Fund, Innovate UK and the European Commission’s Horizon 2020 framework program. The Company has also received the «Global Climate Action Award» from the United Nations.
Eco Wave Power’s common shares (ECOWVE) are traded on Nasdaq First North and its American Depository Shares (WAVE) are traded on the Nasdaq Capital Market.
More info: www.ecowavepower.com
Information on, or accessible through, the websites mentioned above does not form part of this press release.
Vator Securities is the Company’s Certified Advisor on Nasdaq First North Growth Market (+46 8 580 065 99, ca@vatorsec.se).
For more information, please contact:
Inna Braverman, CEO
inna@ecowavepower.com
+97235094017
For additional investor/media inquiries, please contact:
Investor Contact:
Matt Chesler, CFA
FNK IR
+1.646.809.2183
wave@fnkir.com
Media Contact:
Jacob Scott, Vectis Strategies
+1.412.445.7719
jscott@vectisstrategies.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the «safe harbor» provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as «expects,» «anticipates,» «intends,» «plans,» «believes,» «seeks,» «estimates» and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Eco Wave is using forward-looking statements when it discusses pipeline of ancillary technology services, include feasibility studies for potential customers of WEC technology, its expansion, collaboration with OPT, new legislation initiative to include wave energy in New Jersey’s Energy Master Plan and to help New Jersey become the first U.S. state or territory to have a commercial wave energy proof of concept, the agreement with Port Adriano for the potential construction of a wave energy power plant of up to 2 megawatts, and that the agreement expands Eco Wave Power’s presence in Europe and will help Spain to achieve its aggressive goals for renewable power, estimates on European energy needs, and that once complete, Eco Wave Power’s project in the Port of Jaffa will be the very first wave energy facility in Israeli history.. These forward-looking statements and their implications are based on the current expectations of the management of Eco Wave and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Except as otherwise required by law, Eco Wave undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave is contained under the heading «Risk Factors» in Eco Wave Power’s Annual Report on Form 20-F for the fiscal year ended December 31, 2021filed with the SEC, which is available on the on the SEC’s website, www.sec.gov.
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