Welcome to our dedicated page for Eco Wave Power Global Ab (Publ) news (Ticker: WAVE), a resource for investors and traders seeking the latest updates and insights on Eco Wave Power Global Ab (Publ) stock.
Eco Wave Power Global AB (NASDAQ: WAVE) pioneers onshore wave energy conversion technology that transforms ocean movements into renewable electricity. This news hub provides investors and industry stakeholders with timely updates on technological advancements, global project developments, and strategic partnerships driving the clean energy transition.
Access comprehensive coverage of WAVE's operational milestones, including new installations in Portugal and Taiwan, collaborations with energy leaders like EDF Renewables, and engineering breakthroughs in marine energy conversion. Our curated news collection delivers verified updates on earnings reports, regulatory approvals, and infrastructure expansions without speculative commentary.
Key content areas include project commissioning updates, patent filings for wave converter systems, partnership announcements with maritime engineering firms, and participation in international renewable energy forums. Bookmark this page for direct access to original press releases and objective analysis of WAVE's role in advancing sustainable power generation.
Eco Wave Power (NASDAQ: WAVE) reported its Q1 2025 results, highlighting significant global expansion and project milestones. The company reduced net loss by 4.2% compared to Q1 2024 and maintained $8.8 million in cash. Key developments include:
In the United States, WAVE secured final permits for its Port of Los Angeles project and began floater construction with local manufacturer All-Ways Metal. In Portugal, the company submitted final execution plans for its first MW-scale project. The company expanded into Asia through partnerships with India's Bharat Petroleum Corporation Limited for a Mumbai pilot project and Taiwan's I-Ke International for a 100KW installation.
The EWP-EDF One project in Israel demonstrated strong performance with zero downtime and 13% average power output of installed capacity, peaking at 40Kw. Operating expenses were $765,000, up by $106,000 from 2024, with increased investments in R&D, sales, and administration to support global expansion.
Eco Wave Power (NASDAQ: WAVE) has signed a manufacturing agreement with All-Ways Metal, Inc., a California-based woman-owned business, to produce floaters for its first U.S. wave energy project at the Port of Los Angeles. The floaters, a key component of Eco Wave Power's wave energy conversion technology, will be delivered within 70 days and installed at Municipal Pier One.
The project, co-developed with Shell Marine Renewable Energy (Shell MRE), has received final licensing approval from the Port of Los Angeles and federal permit from the U.S. Army Corps of Engineers in November 2024. This proof-of-concept installation represents a significant milestone in combining public and private investment in renewable energy infrastructure.
The initiative is being executed under a Pilot Test Agreement with Shell MRE and aims to serve as a scalable model for future wave energy deployments along the U.S. coastline and globally. The local manufacturing approach is expected to accelerate project timelines and support local job creation.
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) has appointed Hilary E. Ackermann to its newly established Advisory Board. Ackermann brings over three decades of experience in energy and financial sectors, currently serving on Vistra Energy's Board of Directors as Chair of the Sustainability and Risk Committee.
Ackermann's extensive background includes roles as Chief Risk Officer at Goldman Sachs Bank USA (2008-2011) and positions at Swiss Bank She has served on multiple boards, including Credit Suisse Holdings (USA) and Apollo Investment Her expertise spans energy sustainability, risk management, and corporate governance.
The appointment strengthens Eco Wave Power's leadership team in its mission to commercialize wave energy technology. The advisory role is non-governance in nature and aims to provide strategic guidance for the company's expansion in the renewable energy landscape.
Eco Wave Power (NASDAQ: WAVE) reported significant financial and operational progress for 2024, including a 30% reduction in net cash used for operations, 7% decrease in operating expenses, and 11% increase in cash position to $9.3 million. The company recorded its first revenues of $168,000 from wave energy projects, with total revenues reaching $393,000.
Key operational highlights include: the EWP-EDF One Jaffa Port project becoming Israel's first wave energy project supplying to the national grid, achieving 78% operational uptime; securing final federal permit for the Port of Los Angeles project set to commence in Q1 2025; advancing a megawatt-scale project in Portugal; and expanding into Taiwan with first wave energy project sale agreement.
The company also signed an MOU with Bharat Petroleum for wave energy development in India, raised $3 million through a registered direct offering, and implemented an ADS repurchase program. The Jaffa Port system demonstrated improved efficiency, achieving up to 40% of energy production goals in waves above 0.7 meters.
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.
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