Eco Wave Power Global Ab (Publ) Stock Price, News & Analysis
Company Description
Eco Wave Power Global AB (publ) (Nasdaq: WAVE) is an onshore wave energy company that focuses on converting the power of ocean and sea waves into clean, reliable, and cost‑efficient electricity. The company operates in the hydroelectric power generation industry within the broader utilities sector and has developed patented, intelligent wave energy technology specifically designed for installation on existing marine structures such as breakwaters, piers, and jetties.
According to company disclosures and press releases, Eco Wave Power’s systems use floaters attached to existing coastal infrastructure. The motion of the waves drives a hydraulic process that feeds an onshore energy conversion unit, which generates electricity. This onshore configuration avoids placing equipment on the seabed and is described by the company as efficient, scalable, and environmentally responsible.
Business model and technology focus
Eco Wave Power describes itself as a pioneering onshore wave energy company that aims to accelerate the global transition to renewable energy. Its business centers on developing, demonstrating, and deploying wave energy stations that can be integrated into port and coastal infrastructure. The company’s technology has been recognized as a “Pioneering Technology” by the Israeli Ministry of Energy and is co‑funded in Israel by EDF Renewables IL.
The company reports that it developed and operates Israel’s first grid‑connected wave energy power station at Jaffa Port (the EWP‑EDF One project), which serves as both a power generation and research and development site. Eco Wave Power also emphasizes the use of pilot and demonstration projects to collect real‑world performance data, refine its designs, and support future commercial‑scale deployments.
Key projects and geographic footprint
Eco Wave Power’s public communications describe a growing international footprint. The company highlights:
- Israel – Jaffa Port (EWP‑EDF One): Israel’s first grid‑connected wave energy system, operating under a Power Purchase Agreement with the Israeli Electric Corporation and recognized by the Ministry of Energy as “Pioneering Technology.” The station is used to validate continuous operation, system robustness, and energy production under varying sea conditions.
- United States – Port of Los Angeles: A first‑of‑its‑kind onshore wave energy pilot station in the U.S., hosted at AltaSea in the Port of Los Angeles and developed in collaboration with Shell Marine Renewable Energy (Shell MRE). The company reports that it completed full installation, lowered its floaters into the water for the first time, and launched the project as a demonstration station to showcase its patented onshore technology in U.S. marine conditions.
- Portugal – Porto project under APDL concession: A planned 1 MW wave energy power plant in Porto, described as the first megawatt‑scale implementation under a 20 MW concession agreement with Administração dos Portos do Douro, Leixões e Viana do Castelo, S.A. (APDL). Eco Wave Power reports completing a detailed metocean and loads assessment with MetOcean Consult, finalizing internal engineering reviews, paying a portion of the grid connection fee, and submitting a full execution plan to APDL for a project designed to integrate wave energy into Portugal’s renewable electricity mix.
- Taiwan – Suao Port pilot: Entry into Taiwan through an agreement with I‑KE International Ocean Energy Co., a subsidiary of Lian Tat Company. I‑KE has been awarded an official land use tender at Suao Port for a 100 kW onshore wave energy pilot station, to be implemented using a turnkey conversion unit purchased from Eco Wave Power and locally manufactured floaters under the company’s patented design.
- India – collaboration with Bharat Petroleum: A memorandum of understanding with Bharat Petroleum Corporation Limited (BPCL), a Fortune 500 government‑owned company, to explore wave energy deployment at the Mumbai Oil Terminal. Under this collaboration, BPCL is responsible for regulatory clearances, while Eco Wave Power provides technology and optimization expertise, beginning with a site assessment.
- South Africa – Port of Ngqura feasibility: An agreement with Africa Great Future Development Ltd (AGFDL) to conduct a feasibility study for a potential wave energy project at the Port of Ngqura, which the company views as a promising location due to its breakwater infrastructure and exposure to ocean waves.
In multiple press releases, Eco Wave Power also refers to a project pipeline of approximately 404.7 MW under development, spanning locations such as Portugal, Taiwan, India, and additional international sites.
Technology characteristics and maintenance approach
The company describes several characteristics of its onshore wave energy technology:
- Onshore energy conversion: Floaters are attached to existing marine structures, and the energy conversion unit is located on land. The company notes that this configuration avoids a footprint on the seabed and is intended to simplify access for maintenance.
- Patented, intelligent control: Eco Wave Power repeatedly refers to its technology as patented and intelligent, emphasizing the use of proprietary designs for floaters and energy conversion systems.
- Scalability and modularity: Pilot projects, such as the EWP‑EDF One station in Jaffa Port, use a limited number of small‑scale floaters to validate continuous operation and scalability. The company states that future commercial projects are planned to utilize larger floaters and higher numbers of units to increase energy capture and capacity factors.
- Drone‑based maintenance collaboration: Eco Wave Power has announced a collaboration with BladeRanger Ltd., a company specializing in autonomous drone‑based cleaning and diagnostics. In a demonstration at Jaffa Port, BladeRanger’s drones cleaned and inspected Eco Wave Power’s floaters. The company indicates that drone‑based maintenance is expected to help lower operating expenses, reduce downtime, and support predictive maintenance for its wave energy systems.
Recognition, partnerships, and support
Eco Wave Power highlights a range of recognitions and partnerships in its public materials:
- Awards and recognition: The company reports receiving the United Nations Global Climate Action Award. Its Los Angeles pilot project was named to TIME’s Best Inventions of 2025 list, which recognized innovations addressing climate change, sustainability, and renewable energy. The technology has also been featured in media outlets such as Good Morning America, CNN, the Los Angeles Times, and the Associated Press, according to company press releases.
- Institutional and governmental support: Eco Wave Power cites support and recognition from organizations including the European Union Regional Development Fund, Innovate UK, and the EU Horizon 2020 program. It is also a consortium partner in the Atlantic Wave Energy Sustainable Deployment Initiative (AWESDI), funded by the Interreg Atlantic Area Programme.
- Strategic partners: The company collaborates with partners such as Shell Marine Renewable Energy, AltaSea at the Port of Los Angeles, EDF Renewables IL, I‑KE International Ocean Energy and Lian Tat Company in Taiwan, Bharat Petroleum Corporation Limited in India, and Africa Great Future Development Ltd in South Africa. It also works with engineering and consultancy firms, including MetOcean Consult and MOQ Engineering, on project design and metocean analysis.
Stock listing and regulatory reporting
Eco Wave Power’s American Depositary Shares (ADSs) are listed on the Nasdaq Capital Market under the ticker symbol WAVE. As a foreign private issuer, the company files reports with the U.S. Securities and Exchange Commission (SEC), including current reports on Form 6‑K that furnish press releases, financial statements, and management’s discussion and analysis.
Project development strategy
Based on its public disclosures, Eco Wave Power’s strategy combines pilot projects, commercial‑scale concessions, and regional partnerships. Pilot stations, such as those in Jaffa Port and at AltaSea in Los Angeles, are used to demonstrate the technology in real sea conditions, support regulatory processes, and serve as educational hubs for partners and potential customers. Larger projects, such as the planned 1 MW plant in Porto under a 20 MW concession and the phased roadmap in Taiwan, are intended to demonstrate wave energy at higher capacities.
The company also emphasizes using existing port and coastal infrastructure to host its systems. By attaching floaters to breakwaters, piers, and jetties, Eco Wave Power aims to integrate wave energy into working ports and coastal facilities while using minimal additional land area.
Position within the renewable energy sector
Eco Wave Power operates within the marine renewable energy segment, focusing specifically on onshore wave energy. Its communications highlight wave energy as a predictable and complementary renewable source that can contribute to diversified energy mixes in coastal regions. The company positions its technology as a means to support national and regional renewable energy strategies in markets such as Portugal, Taiwan, India, Israel, and South Africa.