Israeli wave raises $3m
Eco Wave Power to kick off third finance round later this month
Israeli marine developer Eco Wave Power has secured $3m in its latest round of fund raising.
The Tel Aviv outfit said it would use the funds to expand its team and to enable faster execution of its 130MW project pipeline.
Eco Wave Power will later this month kick off a third fundraising round, which shall be the last prior to its IPO planned for next year.
“This new investment is another vote of confidence in Eco Wave Power’s global potential, unique technology and our team,” said co-founders David Leb and Inna Braverman.
“Our goal is to finalize the commercialization of our wave energy technology and to execute our 4.1MW power station in Manzanillo in Mexico, the 5MW PPA in Gibraltar and our whole pipeline, with the help of our global partnerships.”
Image: Wave project in Gibraltar (Eco Wave Power)