Eco Wave Power Advances 1 MW Wave Energy Project in Porto, Portugal; Completes Ocean Wave Assessment with MetOcean Consult and Submits Full Execution Plan to APDL
Rhea-AI Summary
Eco Wave Power (NASDAQ: WAVE) advanced its 1 MW Porto, Portugal wave energy project by completing a metocean wave and loads assessment with MetOcean Consult and submitting the full execution plan to APDL on January 8, 2026.
The project is the first megawatt-scale installation under the company's 20 MW concession with APDL. Eco Wave Power paid the first installment equal to 50% of the grid connection fee and secured formal acceptance of grid connection conditions with E-REDES. A tentative grid connection target in 2026 remains subject to final regulatory approvals and further scheduling with APDL.
Positive
- MetOcean assessment confirmed a favorable wave climate for the Barra do Douro site
- Submitted full execution plan to APDL on January 8, 2026
- Paid first installment equal to 50% of grid connection fee
- Formal acceptance of grid connection conditions with E-REDES
- First 1 MW implementation under the 20 MW concession
Negative
- Grid connection target in 2026 is tentative and subject to final regulatory approvals
- Project advancement depends on further engagement with APDL to finalize schedules
- No confirmed construction start date or binding timeline disclosed
News Market Reaction – WAVE
In the Jan 15 session, WAVE declined 1.02%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jan 12 | Operational performance | Positive | +1.5% | Strong Jaffa Port energy output and uptime demonstrating scalability. |
| Nov 12 | Earnings and update | Positive | -1.7% | Q3 2025 financials and global project milestones including U.S. launch. |
| Oct 14 | Innovation recognition | Positive | +2.1% | AltaSea project named to TIME’s Best Inventions of 2025 list. |
| Oct 07 | Policy support visit | Positive | +10.3% | Congressional visit and discussion of $1B marine energy legislation. |
| Sep 16 | Tech partnership | Positive | -5.6% | Launch of drone-powered maintenance to lower operational costs. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news has generally been positive, with three events seeing aligned positive reactions and two showing sell-the-news style divergences.
Over the last few months, Eco Wave Power reported strong operational performance at Jaffa Port with over 2,000 kWh generated in December 2025 and zero downtime on qualifying wave days (Jan 12, 2026). Earlier, Q3 2025 results highlighted a U.S. launch, with net loss of $996k and cash of $6.85M (Nov 12, 2025). Recognition by TIME’s Best Inventions list and U.S. political support for marine energy in October 2025 underscored growing visibility. Today’s Porto project update extends this pipeline-focused narrative into Portugal.
Key Terms
metocean technical
grid connection technical
distribution system operator technical
breakwater technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Porto, Portugal--(Newsfile Corp. - January 15, 2026) - Eco Wave Power Global AB (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a global leader in onshore wave energy technology, today announced key progress in the development of its 1 MW wave energy project in Porto, Portugal, including the completion of a wave and loads assessment conducted in co-operation with MetOcean Consult and the submission of the full execution plan to Administração dos Portos do Douro, Leixões e Viana do Castelo, S.A. (APDL).
To support engineering and design optimization for the Porto project - the first megawatt-scale implementation under the Company's 20 MW concession agreement with APDL - Eco Wave Power retained the services of MetOcean Consult, a Netherlands-based consultancy specializing in independent metocean analysis, environmental data services, and numerical wave- and flow modeling for offshore, coastal, and port developments.
Illustration of EWP's upcoming project in Portugal
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11247/280484_61fd248754d3791a_001full.jpg
MetOcean Consult's assessment for the Barra do Douro breakwater generated important data and confirmed the favorable wave climate and wave-induced loading conditions for Eco Wave Power's new generation of floaters.
"Accurate metocean data are essential for the safe and efficient development of marine renewable energy projects," said Marco Westra, Managing Director of MetOcean Consult. "Our analysis of the Barra do Douro breakwater shows wave- and wave loading conditions that are well suited to Eco Wave Power's latest floater design, providing a solid technical foundation for the project as it advances toward execution."
With the completion of the internal engineering reviews, Eco Wave Power submitted its full execution plan to APDL on January 8, 2026, marking a key transition from the planning phase toward the construction phase of the 1 MW project. The Company expects to engage further with APDL in the coming weeks to finalize schedules and advance the project toward on-site execution.
The planned 1 MW wave energy station in the City of Porto has already achieved important development milestones, including the payment of the first installment, representing
Illustration of EWP's upcoming project in Portugal
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11247/280484_61fd248754d3791a_002full.jpg
Situated within the existing breakwater structure known as "The Gallery," the 1 MW installation will house Eco Wave Power's advanced wave energy conversion equipment and is designed to support the integration of ocean wave energy into Portugal's renewable electricity mix.
"Portugal has established itself as a leader in renewable energy adoption, and we are proud that our Porto project contributes to the continued diversification of the country's clean energy portfolio," said Inna Braverman, CEO and Founder of Eco Wave Power. "Completing the metocean assessment with MetOcean Consult and submitting our execution plan to APDL are important steps as we move this project from planning toward construction and grid connection. This initiative underscores our commitment to scaling wave energy solutions and delivering predictable, sustainable power from the world's oceans."
Eco Wave Power's innovative, onshore wave energy systems are designed to be efficient, scalable, and environmentally responsible, supporting the transition to a resilient and diversified renewable energy future.
About MetOcean Consult
MetOcean Consult is an independent consultancy providing high-quality environmental data services, forecast information, and metocean analysis for offshore, coastal, and port projects. With extensive experience in numerical wave and flow modeling and validated wind, wave, and current data, MetOcean Consult delivers fit-for-purpose solutions that support design criteria, engineering decisions, and environmental assessments across all stages of marine infrastructure development.
About Eco Wave Power Global AB (publ)
Eco Wave Power Global (NASDAQ: WAVE) is a pioneering onshore wave energy company that transforms the power of ocean and sea waves into clean, reliable, and cost-efficient electricity through its patented, intelligent technology.
With a mission to accelerate the global transition to renewable energy, 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 Renewables IL. 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 (Shell MRE).
Eco Wave Power is expanding rapidly worldwide, with upcoming projects in Portugal, Taiwan, and India, representing a robust project pipeline of 404.7 MW under development. 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.
Note: Information available on or through the websites mentioned herein does not form part of this press release.
For press inquiries, please contact: 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 expectation to engage further with APDL in the coming weeks to finalize schedules and advance the 1 MW wave energy project in Porto, Portugal toward on-site execution and the expectation that the project aligns with a tentative grid connection target in 2026. 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, 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280484