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Eco Wave Secures Venture Funds for Marine Energy Systems

Eco Wave Power, an Israeli maker of ocean energy systems, raised initial funding for a $150 million pipeline of planned projects to use waves to generate electricity.

The technology maker secured $2 million from Pirveli Ventures, with a representative of Pirveli joining its board of directors, Eco Wave said Monday. It will use the funds to start to develop 111 megawatts of marine-energy projects planned in countries including the U.K., China, Mexico and Chile, co-founder Inna Braverman said by e-mail.