Eco Wave Power Reports H1 2026 Results, Highlighting Strong Financial and Operational Progress
Rhea-AI Summary
Eco Wave Power (NASDAQ: WAVE) reported H1 2026 results showing a 12% reduction in net loss, a 9% decrease in operating expenses and a roughly 58% increase in cash versus March 31, 2026. Other income rose about 3%, while grant funding from the European Green Deal’s ILIAD Consortium and Innovate UK increased approximately 56.8%.
The company raised $4.0 million in gross proceeds via a registered direct offering of 400,000 ADSs at $10.00, a 10.7% premium to the prior Nasdaq close, plus warrants for up to 300,000 ADSs at $12.00, expiring June 26, 2029. Eco Wave Power advanced AI-driven initiatives through NVIDIA’s Inception program, multiple GTC keynote features and an NVIDIA corporate blog, while progressing projects in Israel (grid-connected Jaffa Port station), the U.S. (Port of Los Angeles pilot), Portugal (first 1 MW phase under a 20 MW concession) and Taiwan.
Positive
- Net loss decreased by approximately 12% versus H1 2025
- Operating expenses reduced by about 9% compared to H1 2025
- Cash position increased by roughly 58% versus March 31, 2026
- $4.0 million raised in registered direct offering at 10.7% premium
- Grants from ILIAD and Innovate UK up about 56.8% year over year
- Jaffa Port grid-connected station operated with zero downtime since early 2025
Negative
- Company continues to report a net loss despite 12% reduction
- Equity financing and warrants for up to 300,000 ADSs imply potential dilution for shareholders
News Explained
The June 29 financing is closed: $4.0 million gross cash came in, 400,000 ADSs were sold, and up to 300,000 more remain conditional.
Eco Wave Power reports that its
The sold ADSs are the committed equity component, while the warrant-related ADSs are not committed unless exercised; under the supplied dilution definition, the equity issuance reduces existing holders’ percentage ownership and warrant exercise could create further dilution.
The warrants are immediately exercisable at
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 21 | Blue-Tech initiative | Positive | -4.6% | Government initiative supported marine renewable energy and AI-powered energy management. |
| Jul 16 | SB 605 report | Positive | +0.6% | California report cited WAVE's Port of Los Angeles marine-energy pilot. |
| Jun 29 | Strategic financing | Positive | -3.4% | Company closed a $4.0 million financing priced above the prior close. |
| Jun 25 | Registered offering | Positive | +10.0% | Company priced $4.0 million offering at a 10.7% premium. |
| Jun 25 | NVIDIA feature | Positive | +10.0% | NVIDIA highlighted WAVE's AI-powered wave-energy technology in a corporate blog. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
WAVE's recent news reactions were mixed, with positive announcements producing both aligned gains and negative divergences.
Key Terms
registered direct offering financial
digital twins technical
predictive maintenance technical
power purchase agreement financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Management Commentary
Strengthened Financial Position, Operational Progress and AI-Driven Innovation
During the first half of 2026, Eco Wave Power continued to execute a disciplined strategy focused on financial efficiency, advancement of its key projects and the integration of artificial intelligence and advanced digital technologies into its wave energy platform. The Company continued to strengthen its position across
- Strengthened Financial Position: The Company raised
$4.0 million 58% compared to March 31, 2026, strengthening the Company's financial resources as it advances its global growth strategy. - Operating Expense Reduction: Operating expenses decreased by approximately
9% compared to the first half of 2025, reflecting the Company's continued focus on disciplined cost management. - Reduced Net Loss: Net loss decreased by approximately
12% compared with the first half of 2025, reflecting continued financial discipline and improved operating efficiency. - Growth in Other Income and Grant Funding: Other income increased by approximately
3% compared to the first half of 2025. In addition, grants received through the European Green Deal's ILIAD Consortium and InnovateUK increased by approximately56.8% , supporting the Company's ongoing research, development and technology-advancement activities. - AI and Digital Innovation: During H1 2026, Eco Wave Power continued to expand the role of artificial intelligence within its technology platform, including work on AI-powered predictive maintenance, digital twins and intelligent system optimization. The Company's growing focus on the intersection of renewable energy and AI was further highlighted through its participation in the NVIDIA Inception program, its appearance in NVIDIA's corporate blog, which explored the potential for ocean-powered data centers, and its inclusion in Jensen Huang's GTC Taiwan keynote.
On June 29, 2026, Eco Wave Power announced the successful closing of a
The offering consisted of 400,000 American Depositary Shares ("ADSs") at
The additional capital is intended to support Eco Wave Power's continued execution across its international project pipeline, while further advancing its strategy to position wave energy as a renewable energy layer for AI and digital infrastructure. The Company is also expanding its AI capabilities, including digital twins and other AI-driven technologies designed to enhance the performance, monitoring, optimization and scalability of its wave energy systems.
"The successful completion of this financing marks another important milestone for Eco Wave Power as we continue advancing our global project portfolio," said Inna Braverman, Founder and Chief Executive Officer of Eco Wave Power. "With projects progressing across multiple international markets and growing global demand for reliable renewable energy to support digital infrastructure and AI, we believe this financing further strengthens our ability to execute our strategy while creating long-term value for our shareholders."
In connection with the offering, the investor also received warrants to purchase up to 300,000 ADSs at an exercise price of
Positioning Wave Energy for the Emerging AI Infrastructure Market
During H1 2026, Eco Wave Power significantly expanded its activities at the intersection of wave energy, artificial intelligence, digital twins and next-generation energy infrastructure, while gaining increased visibility within NVIDIA's global AI ecosystem.
In March 2026, Eco Wave Power's technology was featured during NVIDIA Founder and CEO Jensen Huang's GTC keynote in
On May 4, 2026, NVIDIA featured Eco Wave Power in a short film published across its global social media platforms, highlighting the Company's vision of using artificial intelligence to optimize wave energy generation. NVIDIA stated: "The ocean holds more energy than the world will ever need. Eco Wave Power uses AI to turn every wave into clean electricity. Renewable energy powered by the sea."
On May 18, 2026, Eco Wave Power announced that its wholly owned subsidiary, Eco Wave Power
Eco Wave Power
On June 2, 2026, Eco Wave Power's technology was featured for the second time within approximately three months in a flagship NVIDIA GTC keynote, this time during Jensen Huang's GTC Taipei 2026 presentation. The second appearance further highlighted the growing role of digital twins and advanced simulation technologies in optimizing real-world infrastructure.
The Company's AI strategy gained further visibility on June 22, 2026, when Eco Wave Power was featured in an NVIDIA corporate blog titled "Eco Wave Power Turns Waves Into Watts With NVIDIA AI Infrastructure and Digital Twins." The feature highlighted Eco Wave Power's development of an AI Wave Energy Layer using NVIDIA Omniverse libraries and accelerated computing, while also exploring the longer-term potential for ocean-powered data centers.
As global investment in artificial intelligence and data centers accelerates, the demand for reliable and scalable electricity infrastructure is expected to increase substantially. Eco Wave Power believes its proprietary onshore wave energy technology has the potential to contribute to this emerging energy ecosystem, particularly for coastal and nearshore infrastructure. The Company has initiated discussions with data center developers and infrastructure partners to explore potential integration of wave energy into future AI-focused energy solutions.
Eco Wave Power continues to operate
Since the beginning of 2025, the Jaffa Port power station has maintained zero downtime, while continuing to demonstrate the operational viability of Eco Wave Power's onshore wave energy technology under real-world marine conditions. The project provides valuable operating data and demonstrates how existing coastal infrastructure can be transformed into renewable energy-generating assets without requiring offshore seabed installations.
The Jaffa Port site is also serving as an important platform for the Company's continued technology development. Eco Wave Power is integrating artificial intelligence and digital twin capabilities into its wave energy systems, with the objective of improving energy-production optimization, predictive maintenance, system monitoring and the future integration of marine renewable energy with AI-driven infrastructure.
Following the end of H1 2026, Eco Wave Power welcomed a new joint initiative announced by
During the official inauguration of the Jaffa Port power station in December 2024,
The new Blue-Tech initiative provides further evidence of growing government interest in the commercialization of marine renewable energy technologies. Together with emerging policy support in markets such as
In March 2026, Eco Wave Power successfully completed and submitted the final report for its pilot project at the Port of
The pilot provided important technical, operational, regulatory and economic data supporting the potential scalability of Eco Wave Power's technology. By utilizing existing marine structures, the Company's approach has the potential to simplify deployment, reduce installation complexity and support wave energy development close to major coastal population and electricity-demand centers.
Eco Wave Power's infrastructure-integrated approach has also been highlighted by the
Following the end of H1 2026, Eco Wave Power highlighted its inclusion in
The SB 605 process represents one of the most comprehensive state-led assessments of marine renewable energy in
Importantly, the report specifically references Eco Wave Power and its Port of
The Company believes
Unlike offshore marine energy technologies that require seabed installations, Eco Wave Power's patented system is designed for deployment on existing man-made coastal structures, including breakwaters, jetties, piers and port infrastructure. The Company believes this approach has the potential to reduce deployment complexity and environmental and ocean-use impacts, while supporting a more practical pathway toward commercial-scale wave energy installations.
Eco Wave Power continued advancing its first megawatt-scale wave energy project in
During H1 2026, the Company continued coordinating with APDL regarding the reinforcement works at the Barra do Douro breakwater, which are currently underway. Recent updates received from APDL indicate that the works are progressing at the project site, including the infrastructure designated for Eco Wave Power's future installation.
In parallel, Eco Wave Power is in advanced discussions with Portuguese subcontractors expected to support the execution phase of the project, further advancing preparations toward deployment.
In August 2026, Eco Wave Power Founder and CEO Inna Braverman is expected to visit
The planned 1 MW installation represents the first phase of the Company's 20 MW concession and an important step in Eco Wave Power's transition toward larger-scale commercial deployments. The project is expected to provide valuable operational and execution experience that can support the development of subsequent megawatt-scale installations in
Eco Wave Power continued advancing its first wave energy project in
The project is expected to incorporate local manufacturing of Eco Wave Power's floaters and deployment of a turnkey wave energy system, supporting the development of local manufacturing capabilities while demonstrating the scalability of the Company's technology in the
In March 2026, I-Ke secured a five-year land lease agreement, with an option for extension, at Suao Port for the designated wave energy project site. Securing the site represents an important milestone toward the project's implementation and provides a foundation for advancing the next stages of development.
The application for the transfer of land-use rights has been submitted to the Taiwan International Ports Corporation, with the required port work permits expected to be obtained by October 2026, providing a defined regulatory pathway toward project execution.
The Suao Port project represents a strategic entry point for Eco Wave Power into the
As
Eco Wave Power continued advancing its collaboration with Bharat Petroleum Corporation Limited ("BPCL") to explore the deployment of wave energy technology in
The collaboration is expected to begin with a site-assessment study and progress toward a pilot installation at BPCL's Mumbai Oil Terminal, providing an opportunity to evaluate Eco Wave Power's technology under local operating conditions and establish a foundation for potential future deployments.
The Company views its collaboration with BPCL as an important step toward establishing a presence in the Indian market and demonstrating the potential for Eco Wave Power's technology to be deployed across additional suitable coastal and port infrastructure in the future.
CEO Commentary
The first half of 2026 was an important period for Eco Wave Power, marked by stronger financial performance, continued operational execution and the expansion of our strategy into artificial intelligence and next-generation energy infrastructure.
From a financial perspective, we remained focused on disciplined capital management while continuing to advance our global growth strategy. During the first half of the year, we reduced operating expenses by approximately
We also strengthened our financial position through the successful completion of a
At the same time, we continued making meaningful progress toward our long-term objective of taking wave energy from demonstration to commercial-scale deployment.
In
In
We were also encouraged to see Eco Wave Power and our Port of
In parallel, we are advancing discussions with Portuguese subcontractors expected to participate in the execution phase of the project. I also look forward to visiting
We continued expanding our international footprint in
In
One of the most exciting developments during H1, however, has been the rapid expansion of Eco Wave Power's activities at the intersection of renewable energy and artificial intelligence.
During the first half of the year, our technology was featured twice in keynote presentations by NVIDIA Founder and CEO Jensen Huang—first at GTC in
For us, AI represents more than an opportunity to improve our own technology. We see two complementary opportunities.
First, we are developing AI-driven tools that can improve the performance, monitoring, predictive maintenance, optimization and scalability of our wave energy systems. Second, we believe the rapid growth of AI and data centers is creating an unprecedented need for additional reliable and sustainable electricity generation.
Many of the world's largest population centers, ports and digital infrastructure assets are located along coastlines. We believe this creates an opportunity for wave energy to eventually become part of the broader renewable energy mix supporting the significant growth in electricity demand associated with AI and next-generation computing infrastructure.
We have therefore begun exploring this opportunity with academic institutions, technology companies, infrastructure partners and data center developers, while continuing to develop the AI capabilities that can strengthen the performance and intelligence of our own technology.
We are also seeing encouraging signs of increased government attention to wave energy. Following the end of H1,
As we move through the second half of 2026, our priorities remain focused: advancing our first megawatt-scale project in
We believe Eco Wave Power today is positioned at the convergence of several important global trends: the transition toward renewable energy, the increasing need for energy security, the modernization of coastal infrastructure and the extraordinary growth in electricity demand driven by artificial intelligence and data centers.
We enter the second half of 2026 with a stronger financial position, meaningful progress across our key markets and a growing opportunity to position wave energy within the emerging AI and digital infrastructure ecosystem.
I am proud of what our team has accomplished during the first half of the year and remain confident in the long-term potential of our technology, our global project pipeline and the market we are building.
We look forward to continuing to execute on our strategy and to updating our shareholders as we reach the next milestones in Eco Wave Power's growth.
Inna Braverman
Founder and Chief Executive Officer
Eco Wave Power
H1 2026 Financial Overview
Operating expenses for the period of six months ended June 30, 2026, were
- Research and development expenses decreased by
$181 thousand 45% , to$218 thousand $399 thousand $29 thousand $124 thousand $67 thousand $39 thousand - Sales and marketing expenses increased by
$51 thousand 41% , to$174 thousand $123 thousand $16 thousand $35 thousand - General and administrative expenses decreased by
$16 thousand 1% , to$1,073 thousand $1,089 thousand $73 thousand $34 thousand $22 thousand $30 thousand $143 thousand - Other income increased by
$2 thousand 3% , to$64 thousand $62 thousand the United States , and management fees from a joint venture received by the Company. - Share of net loss of a joint venture accounted for using the equity method was
$50 thousand - Operating loss decreased by
$137 thousand 9% , to$1,451 thousand $1,588 thousand - Net financial loss was
$221 thousand $304 thousand U.S . dollar. - Net loss decreased by
$220 thousand 12% , to$1,672 thousand $1,892 thousand - As of June 30, 2026, the Company held
$8.4 million $8.15 million $0.25 million
Conference Call and Webcast Information
The Chief Executive Officer of Eco Wave Power, Inna Braverman and the Company's Chief Financial Officer, Aharon Yehuda, will host a conference call to discuss the financial results and outlook on Tuesday, August 11, 2026, at 5:00 PM Eastern time.
- The dial-in numbers for the conference call are 888-506-0062 (toll-free) or 973-528-0011(international). If requested, please provide participant access code: 229009.
- The event will be webcast live, available at: https://www.webcaster5.com/Webcast/Page/2922/54391
- You may submit your questions for the call until August 11, 2026, at 12:00 PM Eastern time via email to: aharon@ecowavepower.com
A replay will be available by telephone approximately four hours after the call's completion until Monday, August 24, 2026. You may access the replay by dialing 877-481-4010 from the
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
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.
For more information, please contact:
Aharon Yehuda, CFO
Aharon@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 its belief that its proprietary onshore wave energy technology has the potential to contribute to the emerging energy ecosystem for coastal and nearshore infrastructure including data centers, the Company's initiation of discussions with data center developers and infrastructure partners to explore potential integration of wave energy into future AI-focused energy solutions, the expectation that Eco Wave Power's strategy to position wave energy as a renewable energy layer for AI and digital infrastructure will continue to advance, the belief that the Port of Los Angeles pilot project provides an important foundation for potential future commercial deployments in the United States, the advancement of the megawatt-scale wave energy project in Portugal including the expectation that the planned 1 MW installation will provide valuable operational and execution experience for subsequent megawatt-scale installations, the expectation that port work permits for the Taiwan project at Suao Port will be obtained by October 2026 and the belief that the project could establish a model for future expansion across the Asia-Pacific region, the collaboration with Bharat Petroleum Corporation Limited (BPCL) to explore wave energy deployment in India including the expectation that a pilot installation at BPCL's Mumbai Oil Terminal could establish a foundation for potential future deployments, the belief that wave energy could complement India's broader renewable energy mix while supporting future industrial, coastal and digital infrastructure, the belief that growing government interest in wave energy in Israel and California reflects increasing international recognition of wave energy's potential to progress from demonstration projects toward broader commercial deployment, the Company's continued development of AI-driven tools including digital twins, predictive maintenance and intelligent system optimization, and the belief that maintaining a diversified global project pipeline will allow the Company to continue progressing toward commercial-scale wave energy deployments while strengthening its position within the global renewable energy sector. 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.
Eco Wave Power Global AB (publ) | |||
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) | |||
June 30, 2026 | December 31, 2025 | ||
In USD thousands | |||
Assets | |||
CURRENT ASSETS: | |||
Cash and cash equivalents | 8,152 | 6,022 | |
Restricted short-term bank deposits | 251 | 251 | |
Trade receivables | 4 | 9 | |
Other receivables and prepaid expenses | 245 | 254 | |
TOTAL CURRENT ASSETS | 8,652 | 6,536 | |
NON-CURRENT ASSETS: | |||
Property and equipment, net | 873 | 929 | |
Right-of-use assets, net | 59 | 137 | |
Investments in a joint venture accounted for using the equity method | 549 | 534 | |
TOTAL NON-CURRENT ASSETS | 1,481 | 1,600 | |
TOTAL ASSETS | 10,133 | 8,136 | |
Liabilities and equity | |||
CURRENT LIABILITIES: | |||
Loans from related party | 1,057 | 1,042 | |
Current maturities of long-term loan | 163 | 139 | |
Accounts payable and accruals: | |||
Trade | 95 | 130 | |
Other | 1,113 | 1,181 | |
Short term lease liabilities | 54 | 133 | |
TOTAL CURRENT LIABILITIES | 2,482 | 2,625 | |
NON-CURRENT LIABILITIES: | |||
Long-term loan | - | 24 | |
TOTAL NON-CURRENT LIABILITIES | - | 24 | |
TOTAL LIABILITIES | 2,482 | 2,649 | |
EQUITY: | |||
Common shares | 116 | 102 | |
Share premium | 29,438 | 25,882 | |
Treasury shares | (77) | (77) | |
Foreign currency translation reserve | (1,208) | (1,466) | |
Accumulated deficit | (20,438) | (18,768) | |
Capital and reserves attributable to parent company shareholders | 7,831 | 5,673 | |
Non-Controlling interest | (180) | (186) | |
TOTAL EQUITY | 7,651 | 5,487 | |
TOTAL LIABILITIES AND EQUITY | 10,133 | 8,136 | |
Eco Wave Power Global AB (publ) | ||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF LOSS (Unaudited) | ||||||||||||
Three months ended | Six months ended | |||||||||||
June 30 | June 30 | |||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||
In USD Thousands | ||||||||||||
OPERATING EXPENSES | ||||||||||||
Research and development expenses | (78) | (218) | (218) | (399) | ||||||||
Sales and marketing expenses | (103) | (46) | (174) | (123) | ||||||||
General and administrative expenses | (574) | (550) | (1,073) | (1,089) | ||||||||
Other income | 12 | 8 | 64 | 62 | ||||||||
Share of net loss of a joint venture | ||||||||||||
accounted for using the equity method | (26) | (17) | (50) | (39) | ||||||||
TOTAL OPERATING EXPENSES | (769) | (823) | (1,451) | (1,588) | ||||||||
OPERATING LOSS | (769) | (823) | (1,451) | (1,588) | ||||||||
Financial expenses | (231) | (611) | (274) | (444) | ||||||||
Financial income | 23 | 47 | 53 | 140 | ||||||||
FINANCIAL LOSS - NET | (208) | (564) | (221) | (304) | ||||||||
NET LOSS | (977) | (1,387) | (1,672) | (1,892) | ||||||||
ATTRIBUTABLE TO: | ||||||||||||
The Parent Company shareholders | (977) | (1,378) | (1,670) | (1,877) | ||||||||
Non-controlling interests | - | (9) | (2) | (15) | ||||||||
(977) | (1,387) | (1,672) | (1,892) | |||||||||
In USD | ||||||||||||
Loss per common share – Basic and diluted |
(0.02) |
(0.03) | (0.04) | (0.04) | ||||||||
Weighted average number of common shares used in calculation of loss per common share | 46,861,128 | 46,731,027 | 46,788,816 | 46,732,828 | ||||||||
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SOURCE Eco Wave Power Global AB (publ)