Eco Wave Power Completes Feasibility Study for Wave Energy Project at Port of Ngqura, South Africa, with Encouraging Results

Rhea-AI Summary

Eco Wave Power (NASDAQ: WAVE) completed a feasibility study for a potential onshore wave energy power station at the Port of Ngqura, South Africa, with encouraging results.

The study indicates technical potential to deploy approximately 8.3 MW of installed capacity on the port's breakwater, subject to further development, permitting and partner review. AGFDL will evaluate next steps including project structuring and regulatory pathways. The study strengthens Eco Wave Power's international pipeline alongside its operating Jaffa Port plant and projects in the US, Portugal, Taiwan and India.

Positive

• Technical potential: ~8.3 MW of installed wave energy capacity
• First-in-continent opportunity: Candidate for Africa's first onshore wave power station
• Pipeline growth: Strengthens international project pipeline including US, Portugal, Taiwan, India

Negative

• Project remains subject to permitting and further development assessments
• Study results are preliminary and require commercial structuring and regulatory approvals

News Market Reaction

-0.59%

2 alerts

-0.59% News Effect

-$187K Valuation Impact

$31M Market Cap

0.3x Rel. Volume

On the day this news was published, WAVE declined 0.59%, reflecting a mild negative market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $187K from the company's valuation, bringing the market cap to $31M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Ngqura potential capacity: 8.3 MW South Africa coastline: 2,800 kilometers Portugal project size: 1 MW +5 more

8 metrics

Ngqura potential capacity 8.3 MW Feasibility study for Port of Ngqura wave energy station

South Africa coastline 2,800 kilometers Stated national coastline length supporting wave energy potential

Portugal project size 1 MW Planned Porto wave energy project under APDL concession

Portugal concession 20 MW Total concession capacity with APDL in Portugal

Project pipeline 404.7 MW Total international project pipeline referenced in recent 6-Ks

January 2026 output more than 2,300 kWh Energy generated at Jaffa Port over ~11 days

December 2025 output more than 2,000 kWh Energy generated at Jaffa Port over ~12 days

Q3 2025 operating expenses $888k Quarterly operating expenses, up 8% QoQ

Market Reality Check

Price: $5.02 Vol: Volume 7,992 is 0.65x the...

low vol

$5.02 Last Close

Volume Volume 7,992 is 0.65x the 20-day average of 12,227, indicating muted trading interest pre-announcement. low

Technical Shares at $5.05 are trading below the 200-day MA of $6.95 and about 48.9% under the 52-week high.

Peers on Argus

WAVE traded nearly flat (-0.39%) while momentum scanners flagged peers like SUUN...

2 Up

WAVE traded nearly flat (-0.39%) while momentum scanners flagged peers like SUUN and ENLT moving up, suggesting this announcement appeared more company-specific than part of a broad Utilities - Renewable move.

Historical Context

5 past events · Latest: Feb 12 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 12	Operational update	Positive	+1.3%	Reported >2,300 kWh January output at Jaffa Port with zero downtime.
Feb 10	Financing LOI	Positive	+7.4%	Signed LOI with Wavefront for up to 100% equipment financing.
Jan 15	Project advancement	Positive	-1.0%	Advanced 1 MW Portugal project with metocean study and execution plan.
Jan 12	Operational update	Positive	+1.5%	Reported >2,000 kWh December output and continued zero downtime at Jaffa.
Nov 12	Earnings & milestones	Neutral	-1.7%	Q3 2025 results with higher expenses, lower quarterly loss, and U.S. launch.

Pattern Detected

Recent operational and financing updates have often seen modest positive reactions, though some execution or financial updates have coincided with small pullbacks, indicating mixed but generally constructive responses to news.

Recent Company History

Over the last few months, Eco Wave Power has reported steady operational progress at its Jaffa Port pilot, repeatedly highlighting zero downtime and consistent kWh output, and advancing its 1 MW Portugal project under a 20 MW concession. It also signed a financing LOI to support global deployments and issued a Q3 2025 update showing higher expenses but a reduced quarterly net loss. The new South Africa feasibility study fits this pattern of expanding a 404.7 MW-scale project pipeline across multiple geographies.

Market Pulse Summary

This announcement adds a potential 8.3 MW South African project to Eco Wave Power’s expanding global...

Analysis

This announcement adds a potential 8.3 MW South African project to Eco Wave Power’s expanding global footprint, complementing existing efforts in Israel, Portugal, the U.S., Taiwan, and India within a 404.7 MW pipeline. The feasibility study supports port suitability but leaves key steps—permitting, structuring, and timelines—still ahead. When evaluating this news, investors may watch for binding development agreements, grid-connection milestones, and how new projects interact with the company’s expense base and funding arrangements.

Key Terms

feasibility study, grid connection fee, form 6-k, form f-3, +1 more

5 terms

feasibility study technical

"announced the successful completion of a feasibility study for a potential wave energy"

A feasibility study is an assessment that evaluates whether a proposed project or idea is practical and likely to succeed before investing significant time and resources. It considers factors like costs, potential benefits, and challenges, helping stakeholders decide if moving forward makes sense. Think of it as a detailed plan that gauges if a new venture is worth pursuing.

grid connection fee financial

"paid the first installment equal to 50% of the grid connection fee and secured formal"

A grid connection fee is the one-time charge required to physically and administratively hook a power producer or large consumer up to the electricity network, like paying to tap into a water main before you can use the supply. It matters to investors because it is an up-front cost that affects project budgets, timelines and expected returns, and can influence whether a generation or infrastructure project is financially viable.

form 6-k regulatory

"furnished a Form 6-K highlighting January 2026 performance of its EWP-EDF One pilot"

A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.

form f-3 regulatory

"incorporated by reference into the Company’s Form F-3 Registration Statements"

Form F-3 is a U.S. securities filing that lets eligible foreign companies pre-register and then quickly sell shares or other securities to raise money, because they already meet ongoing reporting and size tests. For investors it signals that the company is up-to-date with regulatory disclosure and has an efficient way to issue new securities — similar to a pre-approved credit line — which can mean faster capital raises but also potential dilution of existing holdings.

registration statements regulatory

"into the Company’s Form F-3 Registration Statements (Nos. 333-275728 and 333-282101)"

Registration statements are detailed documents companies file with securities regulators when they plan to offer shares or other securities to the public. They act like a recipe and instruction manual, listing a company’s business, finances, management, risks and how the offering will work, so investors can judge value and potential downsides. For investors, these filings provide the official, legally required facts needed to make informed decisions and spot warning signs.

AI-generated analysis. Not financial advice.

Stockholm, Sweden--(Newsfile Corp. - February 17, 2026) - Eco Wave Power Global AB (publ) (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a leading onshore wave energy technology company, today announced the successful completion of a feasibility study for a potential wave energy power station at the Port of Ngqura, South Africa.

Africa Great Future Development Ltd (AGFDL) Team at the Port of Los Angeles Opening

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11247/284129_53303ee3843bb8a7_001full.jpg

The feasibility study, conducted in collaboration with Africa Great Future Development Ltd (AGFDL), delivered encouraging results, indicating the technical potential to deploy approximately 8.3 MW of installed wave energy capacity along the port's breakwater infrastructure, subject to further development and permitting assessments.

The study assessed site conditions, wave resource availability, and preliminary system configuration. The findings support the port's suitability for onshore wave energy implementation and highlight the opportunity to integrate wave energy generation using existing coastal structures.

Following completion of the feasibility phase, AGFDL will now review the study results in detail, after which the parties will jointly evaluate potential next steps, including project structuring, regulatory pathways, and development timelines.

"This feasibility study marks an important milestone in our entry into the African market," said Inna Braverman, Founder and CEO of Eco Wave Power. "The results demonstrate meaningful potential at the Port of Ngqura, and we look forward to working closely with our partners to assess how this project could progress in a responsible and commercially viable manner and becoming the first wave power station on the continent of Africa."

South Africa continues to face structural energy supply challenges, with a strong need for clean, reliable, and locally generated power. With more than 2,800 kilometers of coastline, the country offers significant long-term potential for wave energy as part of a diversified renewable energy mix.

Wilfred Emmanuel-Gottlieb, CEO of AGFDL

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11247/284129_53303ee3843bb8a7_002full.jpg

"This study provides a solid technical foundation for further discussions," said Wilfred Emmanuel-Gottlieb, CEO of AGFDL. "We will now carefully evaluate the results and, together with Eco Wave Power, determine the most appropriate path forward."

The Port of Ngqura, located in South Africa's Eastern Cape Province and operated by Transnet National Ports Authority, is one of the country's most strategic deep-water ports and is adjacent to the Coega Special Economic Zone. The Company believes the port's exposed breakwater and existing marine infrastructure make it a strong candidate for the first onshore wave energy deployment. AGFDL has since commenced discussions with the Leadership at East London assessing suitable locations for a site to deploy the second wave energy power station in the country.

The South Africa feasibility study further strengthens Eco Wave Power's growing international project pipeline. The Company currently operates a grid-connected wave energy power station in Jaffa Port, Israel, and is advancing projects in the United States, Portugal, Taiwan, and India.

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

For press inquiries, please contact: 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 is using forward-looking statements in this press release when it discusses the expectation that the completion of the feasibility study indicates the technical potential to deploy approximately 8.3 MW of installed wave energy capacity along the Port of Ngqura's breakwater infrastructure and the Company's belief that the port's exposed breakwater and existing marine infrastructure make it a strong candidate for the first onshore wave energy 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, 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/284129

FAQ

What did Eco Wave Power (WAVE) announce on February 17, 2026 about the Port of Ngqura feasibility study?

The company announced completion of a feasibility study showing technical potential for ~8.3 MW at Port of Ngqura. According to the company, AGFDL will review results and jointly evaluate project structuring, regulatory pathways, and development timelines.

How significant is the 8.3 MW figure reported by Eco Wave Power (WAVE) for the Ngqura site?

The 8.3 MW figure expresses technical installed-capacity potential for the breakwater site. According to the company, this is an early estimate pending further engineering, permitting and commercial assessments before final sizing or timelines are set.

Does the Ngqura feasibility study mean Eco Wave Power (WAVE) will build a power station immediately?

No, the study is a preliminary step and does not confirm construction. According to the company, next steps include partner review, project structuring and regulatory approvals before any build decision.

How does the Port of Ngqura study affect Eco Wave Power's (WAVE) international project pipeline?

The study adds a potential African project to the firm's pipeline and supports international expansion. According to the company, it complements existing operations in Jaffa Port and active projects in the US, Portugal, Taiwan and India.

What are the main obstacles for the Ngqura wave energy project for Eco Wave Power (WAVE)?

Key obstacles are permitting, regulatory pathways and commercial structuring required to progress beyond feasibility. According to the company, these steps will determine viability, timelines and any required adjustments to capacity or design.