Eco Wave Power Global Ab (Publ) (WAVE) Stock News

Eco Wave Power (NASDAQ: WAVE) has completed the production of floaters for its pioneering U.S. wave energy project at the Port of Los Angeles. The project, set for deployment in July 2025, represents the first-ever onshore wave energy pilot station in the United States.

The floaters were manufactured by All-Ways Metal, a California-based woman-owned metal fabrication company. The system will be installed on a pre-existing jetty structure, where wave motion will be converted into clean electricity using Eco Wave Power's patented onshore conversion unit. The project is supported by Shell's Marine Renewable Program and demonstrates the company's commitment to local sourcing and U.S. job creation.

Eco Wave Power (NASDAQ: WAVE) has secured participation in a €2.45 million transnational project called the Atlantic Wave Energy Sustainable Deployment Initiative (AWESDI), funded under the Interreg Atlantic Area Programme. The project aims to advance sustainable wave energy deployment in Atlantic coastal regions.

As part of an international consortium led by the University of Vigo's Centro de Investigación Mariña, Eco Wave Power will contribute to feasibility studies in Portugal, provide operational insights, validate the Sustainable Design Toolkit, and help develop the Wave Energy Deployment Roadmap. The consortium includes 12 partners from Portugal, Spain, France, and Ireland, combining research institutions, private sector leaders, and government organizations.

The project is part of a larger €55 million funding initiative by the Interreg Atlantic Area 2021-2027 programme, which approved 24 cooperation projects focusing on blue innovation, environmental sustainability, and tourism.

Eco Wave Power (NASDAQ: WAVE), a leading onshore wave energy technology company, has received shareholder approval to continue its American Depositary Shares (ADSs) repurchase program at its 2025 Annual General Meeting. The authorization allows the company to repurchase up to 10% of its total outstanding shares through the Nasdaq Capital Market until the 2026 AGM.

The buyback program includes specific conditions: purchases must be made on regulated markets at prices within the day's trading range, and all transactions require cash payment. The company will continue working with a designated bank to manage the buyback activities, though the authorization does not obligate Eco Wave Power to repurchase any shares.

Eco Wave Power (NASDAQ: WAVE) has announced the official launch date for the first-ever U.S. onshore wave energy pilot project at the Port of Los Angeles, set for September 9, 2025. The project, developed in partnership with AltaSea, represents a significant milestone in renewable energy innovation.

The installation will convert wave motion into clean electricity using floaters attached to existing marine infrastructure, with land-based conversion units. The project has already achieved progress with three floaters completed and entering final preparation phases at All-Ways Metal, a California-based fabricator. The initiative is supported by Shell's Marine Renewable Program and emphasizes local manufacturing and U.S. job creation.

Eco Wave Power (NASDAQ: WAVE) has reached a significant milestone in developing its first U.S. pilot project at the Port of Los Angeles. The company confirmed the production of three wave energy floaters at All-Ways Metal, with all floaters expected to be completed by June 2025 and installation planned for July 2025. This project represents the first-ever onshore wave energy installation in the United States, serving as a proof-of-concept for integrating wave power into U.S. ports and coastal infrastructure. The technology, backed by Shell's Marine Renewable Program, will convert wave motion into clean electricity using floaters attached to existing structures, with conversion happening in a land-based unit. The project, hosted by AltaSea at the Port of Los Angeles, demonstrates Eco Wave Power's commitment to local sourcing and U.S. job creation while marking a crucial step in the company's U.S. market entry strategy.

Eco Wave Power Global AB (NASDAQ: WAVE) has announced its Annual General Meeting scheduled for June 30, 2025, at 10:00 a.m. CEST in Stockholm. Key proposals include: changes to share capital limits (new range: SEK 935,000 to SEK 3,740,000), modification of share structure to include Series A shares with 10 votes per share, and authorization for board to issue new shares and repurchase up to 10% of company shares. The meeting will address crucial matters including adoption of 2024 financial statements, board elections, and implementation of Long-term Incentive Programs 2025/2035 for key executives. Shareholders must register by June 24, 2025, and be recorded in the shareholder register by June 19, 2025, to participate.

Eco Wave Power (NASDAQ: WAVE) has achieved a significant milestone in its 1MW wave energy project in Porto, Portugal by paying 50% of the grid connection fee to E-REDES. The company has accepted the connection conditions for the UPP/5089 power plant, with grid connection targeted for 2026. This project is part of a larger 20MW concession agreement with APDL. The installation will be housed in "The Gallery," an underwater tunnel that will also serve as the world's first underwater wave energy museum. Recent progress includes infrastructure upgrades, appointment of Juan José Gómez as Power Station Manager, and partnership with MOQ Engineering for final design work. The project aligns with Portugal's renewable energy goals, targeting 85% renewable electricity by 2030, up from 61% in 2023.

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.