Eco Wave Power Advances 1 MW Portugal Project as APDL Officially Commences Barra do Douro Breakwater Rehabilitation Works
Rhea-AI Summary
Eco Wave Power (NASDAQ: WAVE) reported progress on its planned 1 MW wave energy project in Porto, Portugal, after port authority APDL officially began rehabilitation works on the storm‑damaged Barra do Douro breakwater, which hosts the designated installation area for the company’s onshore technology.
According to Eco Wave Power, APDL has confirmed that works are underway and advancing, and CEO Inna Braverman will meet APDL in mid‑August 2026 to clarify the breakwater completion timeline and coordinate site access for the installation phase. APDL has also agreed to issue a letter of support for Eco Wave Power’s requested extension of the grid‑connection deadline for the first 1 MW phase, aiming to align regulatory timing with infrastructure completion. Braverman is additionally scheduled to meet key Portuguese subcontractors across civil, steel, hydraulic, electrical and grid‑connection disciplines, supporting the build‑out of a local execution ecosystem for this first phase of a framework that contemplates up to 20 MW of wave capacity.
Positive
- APDL rehabilitation works started at Barra do Douro, enabling future 1 MW installation
- Planned August 2026 meetings to lock in breakwater completion and site‑access timeline
- APDL support letter planned for grid‑connection deadline extension for first 1 MW phase
- Local Portuguese subcontractor engagement across multiple disciplines to support execution
- Framework agreement with APDL contemplates up to 20 MW wave energy capacity in Portugal
Negative
- Project schedule depends on completion of APDL’s breakwater rehabilitation before installation
- Grid‑connection deadline must be extended to match revised infrastructure timetable
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 11 | H1 results | Positive | -0.9% | Reduced net loss, lower expenses, higher cash and financing proceeds |
| Jul 21 | Government initiative | Positive | -4.6% | Blue-Tech initiative included wave energy and marine technology investment |
| Jul 16 | Regulatory report | Positive | +0.6% | California report highlighted the Port of Los Angeles wave-energy pilot |
| Jun 29 | Strategic financing | Positive | -3.4% | Company closed $4.0 million financing priced above prior Nasdaq close |
| Jun 25 | Registered offering | Positive | +10.0% | Offering priced at premiums with proceeds supporting project deployment |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent positive or constructive announcements produced mixed outcomes, with three of five selected events followed by negative 24-hour reactions.
Key Terms
megawatt-scale technical
grid connection regulatory
hydraulic systems technical
breakwater rehabilitation technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Eco Wave Power CEO Inna Braverman to Meet with APDL and Key Portuguese Subcontractors in August to Coordinate Breakwater Completion Timeline, Installation Readiness and Grid-Connection Extension for the First 1 MW Phase
The rehabilitation works follow storm-related damage to the breakwater and are being carried out by APDL as part of its responsibility for the maintenance and reinforcement of the port infrastructure.
The commencement of the works represents an important development for Eco Wave Power's planned 1 MW wave energy installation.
Eco Wave Power has received updates from APDL confirming that the rehabilitation works are underway and progressing at the project site, including works affecting the coastal infrastructure designated for the installation of Eco Wave Power's wave energy technology.
As the rehabilitation progresses, Eco Wave Power Founder and Chief Executive Officer Inna Braverman will travel to
The meeting is expected to focus on establishing the anticipated completion timeline for the breakwater rehabilitation works and coordinating the point at which Eco Wave Power will be able to access the relevant infrastructure and proceed with the installation phase of its 1 MW wave energy project.
In addition, APDL has agreed to provide Eco Wave Power with a formal letter of support in connection with the Company's request to the relevant Portuguese authorities for an extension of the grid-connection deadline applicable to the first 1 MW phase of the project. The requested extension is intended to align the project's regulatory timetable with the completion of APDL's infrastructure rehabilitation works and the subsequent installation of Eco Wave Power's equipment.
During her visit to
The planned meetings will cover key execution areas including civil engineering, steel works and fabrication, hydraulic systems, electrical works and grid connection, as well as additional local engineering and construction activities required for the implementation of the 1 MW installation.
The engagement of local Portuguese contractors forms part of Eco Wave Power's strategy to establish a strong local execution infrastructure for the project while utilizing the Company's proprietary wave energy technology, engineering expertise and system design.
"Seeing the rehabilitation works officially commence at the Barra do Douro breakwater is an important step forward for our project in
"Our first 1 MW installation in
"I look forward to meeting with APDL in
"At the same time, we are moving forward with the local execution ecosystem required for the project. During my visit, I expect to meet with Portuguese subcontractors across civil engineering, steel works, hydraulics, electrical infrastructure and grid connection. These are important steps as we prepare for the execution phase of our first megawatt-scale installation."
Eco Wave Power's technology is designed to be installed on existing man-made coastal infrastructure, such as breakwaters, jetties and piers. The Company believes this approach can simplify installation and maintenance while avoiding the need for offshore seabed deployment.
The
The Company expects to provide further updates following the August meetings with APDL and the Portuguese project execution partners.
About Eco Wave Power Global AB (publ)
Eco Wave Power Global (NASDAQ: WAVE) is a pioneering onshore wave energy company that converts ocean and sea waves into clean, reliable, and cost-efficient electricity using its patented technology. By generating renewable power directly from existing coastal infrastructure such as breakwaters, jetties, and piers, Eco Wave Power enables sustainable electricity production in close proximity to coastal cities, ports, and energy-intensive infrastructure.
As global electricity demand continues to rise, driven in part by the rapid growth of artificial intelligence, data centers, and digital infrastructure, Eco Wave Power is positioning its technology as a scalable, nearshore renewable energy solution capable of supporting next-generation power needs.
With a mission to accelerate the global transition to renewable energy while supporting the next generation of digital and industrial infrastructure, Eco Wave Power developed and operates Israel's first grid-connected wave energy power station, recognized as a "Pioneering Technology" by the Israeli Ministry of Energy and co-funded by EDF Power Solutions. In the United States, the Company recently launched the first-ever onshore wave energy pilot station at the Port of Los Angeles, in collaboration with Shell Marine Renewable Energy.
Eco Wave Power is expanding globally with projects planned in Portugal, Taiwan, and India, representing a project pipeline of 404.7 MW. The Company has received international recognition and support from organizations including the European Union Regional Development Fund, Innovate UK, and the EU Horizon 2020 program, and was honored with the United Nations Global Climate Action Award.
Eco Wave Power's American Depositary Shares (ADSs) are traded on the Nasdaq Capital Market under the ticker symbol "WAVE."
For more information, please visit:
www.ecowavepower.com
Press inquiries:
info@ecowavepower.com
Note: Information available on or through the websites mentioned herein does not form part of this press release.
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 (NASDAQ: WAVE) is using forward-looking statements in this press release when it discusses the anticipated completion timeline for the breakwater rehabilitation works and the subsequent installation of the Company's wave energy equipment, the expected meetings with APDL and Portuguese subcontractors in August 2026, the potential development of up to 20 MW of wave energy capacity under the Company's agreement with APDL, and the Company's expectations regarding operational experience and commercial-scale deployment. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will," or variations of such words, and similar references to future periods. 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, 2025, filed with the SEC on March 12, 2026, which is available 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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SOURCE Eco Wave Power Global AB (publ)