Eco Wave Power Files Annual Report on Form 20-F for the Year Ended December 31, 2024, and Reports Significant Progress in Financial and Operational Results
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Eco Wave Power Global AB (NASDAQ: WAVE) has filed its annual report for 2024, showing a 30% reduction in net cash used for operations, a 7% decrease in operating expenses, and an 11% increase in cash position. The company reported its first revenues from a pilot station sale, secured a federal license for a project in LA, and is advancing a megawatt-scale project in Portugal. Additionally, it signed an MOU with Bharat Petroleum in India.
March 03, 2025 | 2:15 pm
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Eco Wave Power reported significant financial and operational improvements for 2024, including reduced cash usage, decreased expenses, increased cash position, and first revenues from a pilot station sale. The company is advancing projects in LA and Portugal and has signed an MOU with Bharat Petroleum.
The company's financial improvements and new project developments are positive indicators for its future performance. The reduction in cash usage and expenses, along with increased cash reserves, suggest better financial health. The first revenues from a pilot station and new projects in LA, Portugal, and India indicate growth potential.
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