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WAVE Equity Partners Commits $30 Million to MayMaan Research, Inc. to Fuel Sustainable Energy Revolution


WAVE’s $30 Million commitment to MayMaan’s clean energy technology will help the company advance its mission of producing efficient, environmentally friendly power generation for a cleaner world.

May 2, 2023, Hollywood, Florida – MayMaan Research, Inc. (MayMaan) is pleased to announce a commitment by WAVE Equity Partners LLC (WAVE) for a $30 million Series A Preferred investment. WAVE is a leading investor in essential industries, including clean air, water, food, advanced materials, and recycling that make a meaningful environmental impact.  This investment recognizes the immense potential of MayMaan’s AquaStroke® technology, which uses a unique water-ethanol based fuel to create cleaner combustion engines and generators, while reducing emissions and costs. This not only cuts carbon emissions but also provides a cleaner energy alternative to traditional fossil fuels.  With this funding, MayMaan is poised to accelerate the development and deployment of its state-of-the-art clean energy solutions, thereby paving the way for a more sustainable future.

“We believe this significant investment from WAVE demonstrates their confidence in MayMaan’s vision and leading-edge technology.  This funding will enable us to accelerate the growth and development of our proprietary clean combustion solutions, bringing us one step closer to a sustainable future.” said MayMaan’s CEO Doron Shmueli. Eitan Shmueli, President of MayMaan, added, “At MayMaan, we are dedicated to developing solutions that reduce emissions and costs, and are excited about the potential positive impact this collaboration will have on the environment.”

Praveen Sahay, Partner at WAVE Equity Partners, adds, “MayMaan embodies a transformative change in our energy and transportation infrastructure, which we believe will usher in a new era of distributed renewable power generation that is both cost-effective and low in carbon emissions. WAVE takes great pride in its association with such a groundbreaking product, and is fully committed to collaborating with the company on both strategic and operational fronts to realize its grand vision.”

The Power of Water-Based Fuel

MayMaan has established itself as a leading tech innovator developing renewable and clean energy solutions with the potential to disrupt the power generation industry. MayMaan’s AquaStroke engines and generators that run on a water based fuel mix of 70% water and 30% ethanol are one such solution.

Water-ethanol solution is used as a combustion agent in MayMaan’s AquaStroke, which powers these generators, to reduce emissions and improve fuel efficiency. By combining ethanol with water, MayMaan has created a fuel that is not only environmentally friendly but also more cost-effective. This innovative development has already piqued the interest of the energy industry and beyond, establishing MayMaan as a leader in clean combustion technology.

Commitment to Environmentally Friendly Solutions

WAVE’s investment focus is to seek out and expand the impact of proven sustainability innovations globally, which aligns well with MayMaan’s commitment to developing clean and renewable energy solutions.

This investment by WAVE represents an important step toward meeting U.N.  sustainability goals in the United States and around the world.  

About WAVE Equity Partners

Wave Equity Partners (WAVE) is an independent sustainability-focused investment firm. We partner with early-growth companies whose proven clean technologies drive meaningful bottom-line impact and environmental benefits for large industrial manufacturers. Our industry knowledge and dedication to true partnership allow us to identify and support leaders whose innovative solutions are commercially accepted, deliver immediate impact and are poised to scale. WAVE is currently investing out of its third institutional fund and has approximately $420 million under management (AUM) as of Dec. 31, 2022. For more information please visit or by following the company on Twitter and LinkedIn.

About MayMaan Research, Inc.:

MayMaan Research, Inc. is a leading clean energy and power generation technology company headquartered in Hollywood, Florida. With a strong focus on sustainability and innovation, MayMaan has developed trailblazing solutions for clean energy generation, including their AquaStroke® technology that runs on a fuel comprised of 70% water and 30% ethanol, eliminating the need for traditional gasoline or diesel. MayMaan’s team of innovators are motivated by “The Power of Water Based Fuel” and are committed to creating a positive global impact by addressing some of the most pressing energy challenges of the 21st century. For additional information, visit