Eco Wave Power Global AB (NASDAQ:WAVE) shares are moving higher on Monday after the company announced it received the final Nationwide Permit from the U.S. Army Corps of Engineers. Here's what you need to know.

What To Know: The permit is in regard to the company's wave energy project at AltaSea's premises at the Port of Los Angeles. It allows Eco Wave Power to install eight wave energy floaters on the piles of an existing concrete wharf structure located on the east side of Municipal Pier One.

Furthermore, the system will feature an energy conversion unit made up of two 20-foot shipping containers, which are already located on-site and will be linked to the wave energy floaters.

"We are thrilled to receive this final permit and move one step closer to bringing wave energy to the U.S.," said Inna Braverman, Founder and CEO of Eco Wave Power.

"This project represents not only a technological breakthrough but also a crucial step in advancing the global transition to renewable energy. We are deeply grateful for the support of AltaSea, the Port of Los Angeles, Shell MRE, and the U.S. Army Corps of Engineers as we work to make wave energy a key part of the sustainable energy landscape."

The company plans to have the installation finished by the end of the 2025 first quarter.

How To Buy Eco Wave Power Global Shares

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Eco Wave Power Global's case, it is in the Utilities sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

WAVE Price Action: At the time of writing, Eco Wave Power Global shares are moving 36.1% higher at $9.13, according to data from Benzinga Pro.

Image: 1081412 from Pixabay.