$WAVE

3 stories mentioning WAVEUpdated 21d ago

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Eco Wave Power, AI Engineering to Develop Digital Twin Platform for Wave Energy Technology

Eco Wave Power Global (WAVE) said Wednesday its US subsidiary entered into an agreement with Germany-based AI Engineering to develop a physics- and data-driven digital twin platform for Eco Wave Power wave energy technology.Financial details weren't disclosed.The companies have launched phase 1 of the initiative, using physics-based simulation and real-world operational data to model how ocean waves interact with Eco Wave Power's floaters. Using AI Engineering's PAMICS simulation software, the project will evaluate structural loads and theoretical energy yields across different sea conditions.The companies also plan to compare simulation data with real-world sensor readings and develop machine-learning tools to predict energy output and system loads, the company said.Eco Wave Power shares were 2.9% higher in Wednesday trading.Price: $6.00, Change: $+0.17, Percent Change: +2.92%

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Sectors90d ago

Sector Update: Energy Stocks Higher Late Afternoon

Energy stocks advanced late Thursday afternoon, with the NYSE Energy Sector Index rising 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.8%.The Philadelphia Oil Service Sector Index gained 2.5%, and the Dow Jones US Utilities Index increased 0.7%.In sector news, Iran's Islamic Revolutionary Guard Corps attacked a Singapore-flagged ship on Thursday in the Strait of Hormuz, damaging the vessel's bridge while causing no casualties, the Wall Street Journal reported.West Texas Intermediate crude oil rose 2.5% to $72.12 a barrel, and global benchmark Brent added 2.4% to $75.48 a barrel.US natural gas stocks rose by 76 billion cubic feet in the week ended June 19, larger than the 69 billion cubic feet increase expected in a Bloomberg survey and following an increase of 73 billion cubic feet in the previous week. Henry Hub natural gas futures gained 2.1% to $3.29 per 1 million BTU.In corporate news, Chevron (CVX) said its Venezuelan business remains operational and that all of its workers are accounted for after back-to-back earthquakes in the country, Bloomberg reported, citing a company statement. Chevron shares were up 0.3%.Prairie Operating (PROP) said Thursday that it promoted Gregory Patton to chief executive and board member, and named Michael Shelly as chief financial officer. Its shares jumped 8%.TotalEnergies (TTE) must spell out the climate risks tied to emissions from its oil and gas products and detail how it plans to address them, the Paris Judicial Court ruled Thursday, Reuters reported, citing a summary of the decision. TotalEnergies shares eased 0.1%.Eco Wave Power Global (WAVE) shares climbed 6.1% after the company priced an offering of 400,000 American depositary shares to an institutional investor at $10 apiece for gross proceeds of $4 million.

$CVX$PROP$TTE$WAVE

Sectors90d ago

Sector Update: Energy

Energy stocks advanced late Thursday afternoon with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.9%.The Philadelphia Oil Service Sector Index gained 2.3%, and the Dow Jones US Utilities Index increased 0.8%.In sector news, Iran's Islamic Revolutionary Guard Corps attacked a Singapore-flagged ship on Thursday in the Strait of Hormuz, damaging the vessel's bridge while causing no casualties, the Wall Street Journal reported.West Texas Intermediate crude oil rose 2.9% to $72.27 a barrel, and global benchmark Brent added 2.7% to $75.75 a barrel. Henry Hub natural gas futures gained 2.2% to $3.29 per 1 million BTU.In corporate news, Eco Wave Power Global (WAVE) shares rose 7.3% after the company priced an offering of 400,000 American depositary shares to an institutional investor at $10 apiece for gross proceeds of $4 million.

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