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Eco Wave Power Global AB (publ) (WAVE) is an innovative wave power developer headquartered in Israel and listed on Nasdaq Capital Market. The company is known for its proprietary, patented technology that converts ocean and sea waves into clean electricity. Eco Wave Power's mission is to combat climate change by providing commercial wave energy solutions that are environmentally and economically viable.
Established after extensive conceptualization and planning, Eco Wave Power stands out with proprietary technology that utilizes point absorber floating devices, or floaters, installed on existing marine structures. This technology has been recognized by Frost & Sullivan with the Product Innovation Award in 2012 for addressing significant challenges in the wave energy sector.
The company has a geographical presence in Israel, the USA, and Mexico. Its latest achievements include the completion of the grid-connected EWP-EDF One project in the Port of Jaffa, Israel, with a 100KW installed capacity. This project marks the first time in Israeli history that wave-generated electricity has been sent to the national grid.
Eco Wave Power is also expanding its footprint in the United States, with a pilot station at AltaSea in the Port of Los Angeles. This project is poised to become the first onshore wave energy pilot station in the U.S., aligning with California's legislative push for wave and tidal energy evaluation.
Furthermore, the company has a strong financial foundation, bolstered by funding from the European Union Regional Development Fund, Innovate UK, and the European Commission's Horizon 2020 framework program. Recently, Eco Wave Power was awarded a £1.5 million grant as part of a consortium to develop a pilot microgrid project for a remote island in Thailand.
Eco Wave Power continues to secure strategic partnerships and commercial agreements, underscored by its recent collaboration with a major energy company to conduct feasibility studies for commercial onshore wave energy stations globally. The company’s projects pipeline totals 404.7 MW, including forthcoming installations in Portugal and other European locations.
In addition to its technological advancements, Eco Wave Power’s leadership is actively engaged in global initiatives. CEO Inna Braverman has been recognized for her contributions to clean energy and will be featured in a UN interactive art exhibition celebrating women leaders driving progress towards the Sustainable Development Goals (SDGs).
With a robust project pipeline, strategic partnerships, and innovative technology, Eco Wave Power is positioned to be a key player in the renewable energy market, contributing significantly to the global shift towards sustainable energy solutions.
Eco Wave Power (NASDAQ: WAVE) has initiated infrastructure enhancements for its first 1MW wave energy project in Porto, Portugal, scheduled for completion in 2026. The project involves transforming 'The Gallery,' a breakwater tunnel, into a facility housing wave energy conversion equipment and an underwater wave energy museum.
Key infrastructure improvements include sand and debris removal, structural reinforcements, and waterproofing measures. The company has appointed Juan José Gómez as Power Station Manager and partnered with MOQ Engineering for final design and load calculations.
The project aims to support Portugal's renewable energy strategy, targeting 85% renewable electricity generation by 2030, while serving as a model for global expansion.
Eco Wave Power (NASDAQ: WAVE), a leader in onshore wave energy technology, will present at the Centurion One Capital 8th Annual Growth Conference in Toronto from March 3rd to March 6th, 2025. The event will be held at the Four Seasons Hotel in Yorkville.
CEO Inna Braverman will present on March 6th at 2:30 PM EST, highlighting key updates on projects across multiple countries including:
- Israel - Collaboration with EDF Renewables IL
- United States - Partnership with Shell MRE
- Taiwan - Cooperation with I-KE
- Portugal - First MW-scale project
- India - New agreement with Bharat Petroleum for the country's first wave energy project
Braverman will also participate in an "Innovating Ahead" panel discussion at 1:45 PM EST and be available for investor meetings throughout the conference to discuss growth strategy and technological advancements.
Eco Wave Power (NASDAQ: WAVE) has signed a Memorandum of Understanding (MoU) with Bharat Petroleum (BPCL), a Fortune 500 oil and gas company with a $12 billion market cap, to develop wave energy projects in India. The collaboration aims to tap into India's estimated 40,000 MW of untapped wave energy potential along its coastline.
The partnership will begin with a 100 kW pilot project at BPCL's Mumbai Oil Terminals, followed by larger commercial-scale installations nationwide. BPCL will handle regulatory approvals and permits, while Eco Wave Power will provide its wave energy conversion technology and research expertise. This initiative supports BPCL's goal of achieving Net Zero emissions by 2040 and gives Eco Wave Power entry into one of the world's fastest-growing renewable energy markets.
Eco Wave Power (Nasdaq: WAVE) has announced its participation in India Energy Week 2025 from February 11-14, 2025, in New Delhi, where it will showcase its wave energy technology at a major Indian energy 's booth. The company will also sign its first collaboration agreement with a Fortune 500 Indian company for a pilot wave energy project in Maharashtra.
The company will present its wave energy generation model at the exhibition, demonstrating how its patented onshore technology converts ocean waves into electricity. Additionally, CEO Inna Braverman will speak at the 9th Annual Global Business Summit (February 14-15, 2025), a prestigious business forum organized by The Times Group that has previously hosted notable figures like Bill Gates and Ray Dalio.
With India's 7,516 km coastline and over 250 million coastal residents, the company sees significant potential for wave energy integration into India's renewable energy strategy.
Eco Wave Power (NASDAQ: WAVE) has engaged MOQ Engineering to perform final design and load calculations for its wave energy project in Porto, Portugal, targeting a 2026 launch. The project is part of a 20 MW Concession Agreement with APDL and will include an underwater wave energy museum and education centre.
MOQ's work, scheduled for completion by February 2025, focuses on civil engineering design and load calculations for the floaters, important components of the wave energy conversion system. Following MOQ's completion, Eco Wave Power will submit the execution project to APDL for approval before proceeding to floater production.
The project aligns with Portugal's goal to generate 85% of electricity from renewable sources by 2030. The company is also advancing projects in Taiwan and the Port of Los Angeles, with plans to announce additional global initiatives.
Eco Wave Power (NASDAQ: WAVE) announced that its EWP-EDF One wave energy project at Jaffa Port, Israel, achieved continuous operation during the last week of December 2024. The system demonstrated peak production of 26KW with an average wave height of 1.6 meters, operating reliably even during stormy conditions without damage.
The company is expanding globally with several projects: a wave energy installation at AltaSea in the Port of Los Angeles (in collaboration with Shell MRE) expected to begin operations by Q1 2025, which recently received a federal license from the U.S. Army Corps of Engineers; ongoing developments in Taiwan in collaboration with I-KE; and planned deployments in Portugal.
This milestone demonstrates wave energy's potential as a reliable, non-intermittent power source, particularly effective in coastal areas where waves are consistent, offering advantages over other intermittent renewable energy sources.
Eco Wave Power Global AB (NASDAQ: WAVE) announces that its Founder and CEO, Inna Braverman, will speak at Imagination In Action 2025: Architects of the Global Future during the World Economic Forum in Davos, Switzerland on January 22, 2025.
As an Ideas Catalyst, Braverman will deliver a 90-second 'Inspiration Spark' presentation highlighting the company's innovative wave energy technology and commitment to sustainable energy transition. The presentation will be professionally recorded and featured in a mini-documentary on Forbes.com.
The event features notable speakers including DeepMind founder Demis Hassabis, Anthropic CEO Dario Amodei, Meta's Chief AI Scientist Yann LeCun, MIT President Sally Kornbluth, and other distinguished leaders from technology, business, and academia.
Eco Wave Power (NASDAQ: WAVE) has appointed Juan Jose Gomez as Power Station Manager for its Portuguese wave energy project. Juan, who previously managed Eco Wave Power's pilot project in Gibraltar, will oversee the execution, operation, and maintenance activities of the Portuguese initiative. This appointment marks a significant step in the company's global expansion strategy and commitment to Portugal's renewable energy goals.
Juan's responsibilities will include optimizing efficiency, ensuring regulatory compliance, and managing collaboration with local partners and subcontractors. His prior experience with the company's technology and proven track record in project execution positions him as a strategic choice for advancing this initiative.
Eco Wave Power (Nasdaq: WAVE) has closed a registered direct offering of 300,000 American Depositary Shares (ADSs) at $10.00 per ADS, raising $3.0 million in gross proceeds. Each ADS represents eight common shares. Maxim Group served as the sole placement agent.
The company plans to use the net proceeds to advance its projects, particularly its first commercial-scale wave energy installation in Portugal. The offering was made under an effective shelf registration statement declared effective by the SEC on December 6, 2023.
Eco Wave Power operates the first grid-connected wave energy system in Israel and is preparing installations at the Port of Los Angeles, Taiwan, and Portugal, with a total project pipeline of 404.7 MW.
Eco Wave Power (Nasdaq: WAVE) has announced a $3.0 million registered direct offering through the sale of 300,000 American Depositary Shares at $10.00 per ADS to a single institutional investor. Each ADS represents eight common shares. Maxim Group is serving as the sole placement agent.
The company plans to use the net proceeds to advance its projects, particularly its first commercial-scale wave energy installation in Portugal. The offering is expected to close around December 11, 2024, subject to customary closing conditions. The offering is being made under an effective shelf registration statement previously declared effective by the SEC on December 6, 2023.
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