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Investing.com -- Eco Wave Power Global AB (NASDAQ:WAVE) stock rose 3% after the onshore wave energy technology company announced it has completed production of all floaters for its first U.S. wave energy project at the Port of Los Angeles.
The completion marks a significant milestone for the company as it prepares to deploy the first-ever onshore wave energy pilot station in the United States. The floaters, which are custom-engineered wave energy devices, were manufactured by California-based All-Ways Metal, Eco Wave Power’s official U.S. manufacturing partner for the project.
"This is a proud moment for our team and for the future of wave energy in the United States," said Inna Braverman, Founder and CEO of Eco Wave Power. "The completion of all floaters signals that this long-anticipated project is no longer theoretical—it’s ready for real-world application."
The floaters will be installed on a pre-existing jetty structure at the Port of Los Angeles, where wave motion will be converted into clean electricity using the company’s patented onshore conversion unit. Deployment of the system is expected to begin later this month, with the official opening projected for later this summer.
The pilot project is supported by Shell’s Marine Renewable Program and represents Eco Wave Power’s entry into the U.S. renewable energy market. The company emphasized that the project demonstrates its commitment to local sourcing and U.S. job creation.
Earlier this year, representatives from Eco Wave Power and the Port of Los Angeles conducted a joint site visit to finalize the deployment strategy for the wave energy system.
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