Eco Wave Power Global AB (NASDAQ: WAVE) has finally celebrated becoming a public company as the company has organized its official bell ringing ceremony on Nasdaq Stock Market. Robert J. Karabinchak, who serves in the New Jersey General Assembly for the 18th legislative district, shared his vision for backing legislation to endorse wave energy in New Jersey during the ceremony.
In the session, Asm. Karabinchak intends to launch new laws to promote wave energy as the next big renewable energy source. Understanding the enormous potential of this technology, the state should incorporate it in its Energy Master Plan and design a simplified approach for its deployment along the coast of New Jersey. New Jersey will become the first state or territory in the United States to have a commercial wave energy proof of concept as a result of this action.
Furthermore, Asm. Karabinchak disclosed that clean energy is critical to the US economy’s future success. Since the days of Thomas Edison, whose hometown is named after him, Karabinchak’s native state of New Jersey has been a leader in energy innovation. Asm. Karabinchak revealed that governor has established one of the most ambitious clean energy goals in the country – 35% by 2025 and 100% by 2050.
He said that these goals will be fulfilled by offshore wind and solar, which he was proud to support several pieces of allowing legislation. However, their renewable energy goals can only be fulfilled when all renewable sources work together, including wave energy.