Eco Wave Power Secures Final Permit for Pioneering Wave Energy Project in the Port of Los Angeles
Eco Wave Power (NASDAQ: WAVE) has secured the final permit (Revocable Permit 25-05) from the Port of Los Angeles for its wave energy project at Berth 70 in San Pedro, California. The permit, approved on March 27, 2025, follows a federal Nationwide Permit from the U.S. Army Corps of Engineers received in November 2024.
The pilot project, co-funded by Shell Marine Renewable Energy, will utilize approximately 10,396 square feet of land and 2,016 square feet of water area. The installation will include up to eight wave energy floaters on existing concrete wharf piles, connected to an energy conversion unit housed in two 20-foot shipping containers.
The project, developed in partnership with AltaSea, is expected to be completed within 2-3 months, by the end of Q2 2025. According to the U.S. Department of Energy's National Renewable Energy Laboratory, wave energy has the potential to generate over 1,400 terawatt-hours annually, enough to power approximately 130 million homes.
Eco Wave Power (NASDAQ: WAVE) ha ottenuto il permesso finale (Permesso Revocabile 25-05) dal Porto di Los Angeles per il suo progetto di energia dalle onde presso il Molo 70 a San Pedro, California. Il permesso, approvato il 27 marzo 2025, segue un permesso federale Nationwide ottenuto dal Corpo degli Ingegneri dell'Esercito degli Stati Uniti ricevuto nel novembre 2024.
Il progetto pilota, cofinanziato da Shell Marine Renewable Energy, utilizzerà circa 10.396 piedi quadrati di terra e 2.016 piedi quadrati di area acquatica. L'installazione includerà fino a otto galleggianti per energia dalle onde su pile di molo in cemento esistenti, collegati a un'unità di conversione dell'energia ospitata in due container da 20 piedi.
Il progetto, sviluppato in collaborazione con AltaSea, dovrebbe essere completato entro 2-3 mesi, entro la fine del secondo trimestre del 2025. Secondo il Laboratorio Nazionale per le Energie Rinnovabili del Dipartimento dell'Energia degli Stati Uniti, l'energia dalle onde ha il potenziale di generare oltre 1.400 terawattora all'anno, abbastanza da alimentare circa 130 milioni di case.
Eco Wave Power (NASDAQ: WAVE) ha obtenido el permiso final (Permiso Revocable 25-05) del Puerto de Los Ángeles para su proyecto de energía de olas en el Muelle 70 en San Pedro, California. El permiso, aprobado el 27 de marzo de 2025, sigue a un permiso federal Nationwide recibido del Cuerpo de Ingenieros del Ejército de EE. UU. en noviembre de 2024.
El proyecto piloto, cofinanciado por Shell Marine Renewable Energy, utilizará aproximadamente 10.396 pies cuadrados de terreno y 2.016 pies cuadrados de área acuática. La instalación incluirá hasta ocho flotadores de energía de olas sobre pilotes de muelle de concreto existentes, conectados a una unidad de conversión de energía alojada en dos contenedores de envío de 20 pies.
El proyecto, desarrollado en asociación con AltaSea, se espera que se complete en un plazo de 2-3 meses, para finales del segundo trimestre de 2025. Según el Laboratorio Nacional de Energías Renovables del Departamento de Energía de EE. UU., la energía de las olas tiene el potencial de generar más de 1.400 teravatios-hora anualmente, suficiente para alimentar aproximadamente 130 millones de hogares.
에코 웨이브 파워 (NASDAQ: WAVE)는 캘리포니아 샌페드로의 70번 부두에 있는 파도 에너지 프로젝트를 위해 로스앤젤레스 항구로부터 최종 허가(철회 가능 허가 25-05)를 받았습니다. 이 허가는 2025년 3월 27일에 승인되었으며, 2024년 11월에 미국 육군 공병대에서 받은 연방 전국 허가에 이어진 것입니다.
이 시범 프로젝트는 셸 해양 재생 가능 에너지의 공동 자금 지원을 받아 약 10,396 평방피트의 토지와 2,016 평방피트의 수역을 사용할 것입니다. 설치에는 기존의 콘크리트 부두 기둥에 최대 8개의 파도 에너지 플로터가 포함되며, 20피트의 배송 컨테이너 2개에 수용된 에너지 변환 장치에 연결됩니다.
이 프로젝트는 알타시아와 협력하여 개발되었으며, 2025년 2분기 말까지 2-3개월 이내에 완료될 것으로 예상됩니다. 미국 에너지부의 재생 가능 에너지 연구소에 따르면, 파도 에너지는 연간 1,400 테라와트시 이상의 전력을 생성할 수 있는 잠재력을 가지고 있으며, 이는 약 1억 3천만 가정을 전력 공급할 수 있는 양입니다.
Eco Wave Power (NASDAQ: WAVE) a obtenu le permis final (Permis Révocable 25-05) du Port de Los Angeles pour son projet d'énergie des vagues au Quai 70 à San Pedro, Californie. Le permis, approuvé le 27 mars 2025, fait suite à un permis fédéral Nationwide obtenu auprès du Corps des ingénieurs de l'armée des États-Unis en novembre 2024.
Le projet pilote, cofinancé par Shell Marine Renewable Energy, utilisera environ 10 396 pieds carrés de terrain et 2 016 pieds carrés de surface aquatique. L'installation comprendra jusqu'à huit flotteurs d'énergie des vagues sur des pilotis en béton existants, connectés à une unité de conversion d'énergie logée dans deux conteneurs d'expédition de 20 pieds.
Le projet, développé en partenariat avec AltaSea, devrait être achevé dans un délai de 2 à 3 mois, d'ici la fin du deuxième trimestre 2025. Selon le Laboratoire national des énergies renouvelables du Département de l'énergie des États-Unis, l'énergie des vagues a le potentiel de générer plus de 1 400 térawattheures par an, suffisant pour alimenter environ 130 millions de foyers.
Eco Wave Power (NASDAQ: WAVE) hat die endgültige Genehmigung (Widerrufbare Genehmigung 25-05) vom Hafen von Los Angeles für sein Wellenenergieprojekt am Liegeplatz 70 in San Pedro, Kalifornien, erhalten. Die Genehmigung, die am 27. März 2025 genehmigt wurde, folgt einer bundesweiten Genehmigung des U.S. Army Corps of Engineers, die im November 2024 erhalten wurde.
Das Pilotprojekt, mitfinanziert von Shell Marine Renewable Energy, wird etwa 10.396 Quadratfuß Land und 2.016 Quadratfuß Wasserfläche nutzen. Die Installation umfasst bis zu acht Wellenenergie-Floater, die an bestehenden Betonpfeilern des Kai angebracht sind, die mit einer Energieumwandlungseinheit verbunden sind, die in zwei 20-Fuß-Containern untergebracht ist.
Das Projekt, das in Partnerschaft mit AltaSea entwickelt wurde, soll innerhalb von 2-3 Monaten bis Ende des zweiten Quartals 2025 abgeschlossen sein. Laut dem National Renewable Energy Laboratory des U.S. Department of Energy hat die Wellenenergie das Potenzial, jährlich über 1.400 Terawattstunden zu erzeugen, genug, um etwa 130 Millionen Haushalte mit Strom zu versorgen.
- Secured final regulatory approval for Port of Los Angeles wave energy project
- Strategic partnership with Shell Marine Renewable Energy providing project co-funding
- Project implementation timeline of only 2-3 months indicates operational efficiency
- Energy conversion unit already shipped and located on-site, reducing execution risk
- Small-scale pilot project with immediate revenue potential
- Commercial viability yet to be proven at scale
Insights
The final regulatory approval for Eco Wave Power's Los Angeles port project represents a significant milestone in the commercialization of wave energy technology. This permit eliminates the last regulatory barrier for the company's first U.S. installation, allowing construction to begin immediately with completion expected within 2-3 months.
What makes this development particularly notable is the strategic partnership with Shell Marine Renewable Energy as co-funder. Having a major energy back this pilot provides important industry validation for wave energy technology. The partnership with AltaSea further strengthens the project's positioning within the emerging blue economy ecosystem.
From a technical perspective, Eco Wave Power's approach of mounting floaters on existing marine structures (concrete wharf piles) demonstrates their differentiated onshore methodology. This approach potentially offers advantages in maintenance accessibility and grid connectivity compared to fully offshore wave systems.
The 2-3 month construction timeline creates a clear near-term catalyst, with project completion expected by Q2 2025. If successful, this demonstration could accelerate the company's U.S. expansion, leveraging the Department of Energy's estimated 1,400 TWh annual wave energy potential – a massive addressable market compared to WAVE's current
The regulatory approval secured by Eco Wave Power represents a critical de-risking event that significantly improves the company's commercial prospects in the U.S. market. For a company with a
This development contains several elements investors should note:
- The partnership with Shell provides both financial resources and industry credibility that could accelerate adoption
- The clear timeline (2-3 months to completion) creates a defined catalyst moment for potential value reassessment
- All necessary components are already on-site, reducing execution risk
- The project advances through a multitiered partnership structure (Eco Wave Power, Shell, AltaSea, Port of LA) that distributes costs while maximizing potential exposure
While financial details of the Shell co-funding arrangement weren't disclosed, securing a major energy company as a partner suggests the technology has passed significant due diligence. The permit's approval eliminates regulatory uncertainty, which is particularly valuable in California's complex environmental regulatory landscape.
For a company with Eco Wave Power's size, successful completion of this project could serve as a significant validation point, potentially opening pathways to larger installations and commercial contracts. The project's location at a high-profile port further increases visibility to potential commercial partners and investors.
Los Angeles, California--(Newsfile Corp. - March 31, 2025) - Eco Wave Power (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a leading onshore wave energy technology company, is pleased to announce that it has been granted Revocable Permit 25-05 by the Port of Los Angeles for the construction and demonstration of its innovative wave energy technology at Berth 70 in San Pedro, California. The permit was approved and executed on behalf of the Executive Director, Eugene D. Seroka on March 27, 2025.
Inna Braverman, Terry Tamminen, and Arnold Schwarzenegger in a visit to Eco Wave Power's pilot in LA
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This permit is the final approval required for Eco Wave Power to commence construction of its pilot project, following it receiving a federal Nationwide Permit (NWP) 52 for Water-Based Renewable Energy Generation Pilot Projects granted by the U.S. Army Corps of Engineers in November 2024. With all necessary permits secured, the Company is set to move forward with implementation, which is expected to be completed within 2-3 months.
The pilot project, co-funded by Shell Marine Renewable Energy ("Shell MRE"), marks a significant milestone in advancing clean energy solutions by utilizing wave power to generate electricity. Under the permit, Eco Wave Power is authorized to utilize approximately 10,396 square feet of land and 2,016 square feet of water area for the installation and operation of its cutting-edge wave energy conversion system.
The project, developed in partnership with AltaSea at the Port of Los Angeles, will involve installing up to eight wave energy floaters on the piles of an existing concrete wharf structure at Municipal Pier One. An energy conversion unit, consisting of two 20-foot shipping containers, will be placed on the wharf deck and connected to the floaters. With the conversion unit already shipped and located on-site, Eco Wave Power plans to complete installation by the end of the second quarter of 2025.
"This permit represents a major step forward for Eco Wave Power's expansion into the U.S. market," said Inna Braverman, CEO of Eco Wave Power. "We are excited to collaborate with the Port of Los Angeles, AltaSea, and Shell MRE to bring our innovative, sustainable energy technology to one of the most significant ports in the country."
Terry Tamminen, CEO of AltaSea, added: "At AltaSea, we are dedicated to fostering cutting-edge solutions for the blue economy, and Eco Wave Power's innovative technology is a prime example of that commitment. We are thrilled to support this project as it sets the stage for wave energy's viability in the U.S."
The U.S. Department of Energy's National Renewable Energy Laboratory estimates that wave energy has the potential to generate over 1,400 terawatt-hours per year-enough to power approximately 130 million homes. This pilot project is a crucial step toward the commercialization of wave energy as a reliable and clean source of renewable power, further strengthening Eco Wave Power's position as a leader in the industry.
Eco Wave Power remains dedicated to driving forward the global transition to clean energy by pioneering wave power technology. This pilot project is expected to serve as a model for future large-scale wave energy installations across the United States and beyond.
About Eco Wave Power Global AB (publ)
Eco Wave Power is a leading onshore wave energy company revolutionizing clean energy with its patented, smart, and cost-efficient technology that converts ocean and sea waves into sustainable electricity.
Dedicated to combating climate change, Eco Wave Power operates the first grid-connected wave energy system in Israel, co-funded by EDF Renewables IL and the Israeli Energy Ministry, which recognized the technology as a "Pioneering Technology."
Expanding globally, Eco Wave Power is preparing to install projects at the Port of Los Angeles, Taiwan, and Portugal, adding to its impressive project pipeline totalling 404.7 MW. The company has received support from prestigious institutions such as the European Union Regional Development Fund, Innovate UK, and the Horizon 2020 program, and was honoured with the United Nations' Global Climate Action Award.
Eco Wave Power's American Depositary Shares (WAVE) are traded on the Nasdaq Capital Market. Learn more at www.ecowavepower.com.
Information on, or accessible through, the websites mentioned above does not form part of this press release.
For more information, please contact the company at: info@ecowavepower.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other federal securities laws. For example, the Company is using forward-looking statements in this press release when it discusses: the Company's prospective implementation and timeline of its pilot project; the belief that this pilot project marks a significant milestone in advancing clean energy solutions; the prospective implementation schedule; the belief that this permit represents a major step forward for the Company's expansion into the U.S. market; the belief that the Company's technology fosters a cutting-edge solution for the blue economy; the belief that that wave energy has the potential to generate over 1,400 terawatt-hours per year; that this pilot project is a crucial step toward the commercialization of wave energy as a reliable and clean source of renewable power, further strengthening the Company's position as a leader in the industry; and that this pilot project is expected to serve as a model for future large-scale wave energy installations. These forward-looking statements and their implications are neither historical facts nor assurances of future performance and are based on the current expectations of the management of Eco Wave Power and are subject to a number of factors, uncertainties and changes in circumstances that are difficult to predict and may be outside of Eco Wave Power's control that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading "Risk Factors" in Eco Wave Power's Annual Report on Form 20-F for the fiscal year ended December 31, 2024, filed with the SEC on March 3, 2025, which is available on the on the SEC's website, www.sec.gov, and other documents filed or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. References and links to websites have been provided as a convenience and the information contained on such websites is not incorporated by reference into this press release.
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