Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
On March 12, 2026, Eco Wave
Power Global AB (publ) (the “Company”) issued a press release titled “Eco Wave Power Reports Strong Operational Progress
and Files 2025 Annual Report on Form 20-F,” a copy of which is furnished as Exhibit 99.1 with this Report of Foreign Private Issuer
on Form 6-K.
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
Eco Wave Power Reports Strong Operational Progress
and Files 2025 Annual Report on Form 20-F
Company completes first U.S. wave energy pilot
project, submits final report to Shell, records highest energy generation at Israeli project, advances megawatt-scale project in Portugal
and supports Taiwan project development, while reducing Q4 operating expenses by 24%
Stockholm, Sweden – March 12, 2026 –
Eco Wave Power Global AB (publ) (Nasdaq: WAVE) (“Eco Wave Power” or the “Company”), a leading onshore wave energy
technology company, today announced that it has filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 (the
“Annual Report”) with the U.S. Securities and Exchange Commission (the “SEC”).
The Annual Report, which includes the Company’s
audited consolidated financial statements, is available on the SEC’s website at www.sec.gov and
on Eco Wave Power’s website under the SEC Filings section.
Management Commentary
2025 marked a year of strong strategic progress
for Eco Wave Power, highlighted by the successful launch of its first U.S. wave energy pilot project and continued advancement of the
Company’s global project portfolio. For the full year, operating expenses increased by 28% to $3.15 million, reflecting targeted
investments to support the Company’s international expansion and technology development. These investments included a 37% increase
in research and development spending, primarily associated with the Company’s U.S. pilot project and the advancement of its megawatt-scale
project in Portugal, a 36% increase in sales and marketing expenses related to the launch of the U.S. pilot station, and a 17% increase
in general and administrative expenses associated with scaling operations in the United States.
At the same time, the Company demonstrated disciplined
financial management in the fourth quarter of 2025, reducing operating expenses by 24% compared to the third quarter of 2025. The reduction
was driven by a 26% decrease in research and development expenses, a 32% decrease in sales and marketing expenses, and an 11% decrease
in general and administrative expenses, reflecting improved cost management as key project milestones were achieved.
Eco Wave Power also generated revenue from a feasibility
study in South Africa for a potential 8.3 MW wave energy project, as well as other income of $161 thousand, primarily derived from technology
demonstrations in India and the United States. The Company closed the year with $6.3 million in cash and short-term deposits, providing
a solid financial foundation to advance near-term project milestones and support continued global growth.
During 2025, Eco Wave Power also received multiple
grant payments supporting its research and development activities. These included funding from Innovate UK’s Energy Catalyst Round
10, awarded to a consortium including Eco Wave Power, Toshiba Corporation and leading UK universities for the development of a pilot microgrid
solution for remote islands. The Company also expects to receive funding in 2026 from the final milestone of the ILIAD Consortium, an
initiative supported by the European Green Deal. In addition, a consortium including Eco Wave Power secured EUR 2.45 million in grant
funding under the Interreg Atlantic Area Programme’s Third Call for Proposals, supporting the deployment of scalable wave energy
solutions across the Atlantic region.
These grants contribute to the Company’s
ongoing research and development (R&D) efforts, supporting continued innovation and the advancement of wave energy technology.
Major Project Milestones in 2025:
Israel: EWP-EDF One Jaffa Port Wave Energy
Pilot Project
Eco Wave
Power achieved a historic milestone with the official inauguration of the EWP-EDF One wave energy project at the Port of Jaffa. The installation
is the first wave energy project in Israel’s history to supply clean electricity to the national grid, operating under a Power Purchase
Agreement with the Israel Electric Corporation. The project, which was recognized as a “Pioneering Technology” by Israel’s
Ministry of Energy, serves as a pilot installation and testbed for advancing the Company’s wave energy technology.
During 2025
and early 2026, the pilot project achieved several important operational milestones:
| ● | Continuous system reliability:
Since the beginning of 2025, the EWP-EDF One system has maintained zero downtime, operating reliably in wave conditions of approximately
1 meter and above. |
| ● | Stable electricity
generation: |
| ○ | In December 2025, over
approximately 12 operational days with moderate wave heights ranging between 1 and 2 meters, the project generated over 2,000 kWh of
renewable electricity. |
| ○ | In January 2026, during approximately 11 operational days with wave
heights between 1 and 2 meters, the system generated more than 2,300 kWh of electricity. |
| ○ | In February 2026, during approximately 9 operational days with similar
wave conditions, the project produced approximately 2,000 kWh of renewable electricity. |
| ● | Record sea conditions
and peak production: February 2026 also marked the highest wave conditions recorded to date at the Jaffa Port site, with waves reaching
approximately 3 meters in height. During these conditions, the system achieved: |
| ○ | Average production of approximately 20 kW per hour |
| ○ | Peak production of 56.7 kW, representing the highest production
levels recorded at the site to date. |
| ● | Operational efficiency:
Operating expenses remain in line with the Company’s target of below 4% of CAPEX annually. |
| ● | Key performance indicators
achieved: |
| ○ | Demonstrated cost efficiency
compared to offshore wave energy solutions |
| ○ | Successfully insured
technology |
| ○ | Proven storm protection
capabilities |
| ○ | Validated grid connection
feasibility and efficiency |
| ○ | Environmentally sustainable
design with no seabed connection required |
The EWP-EDF
One installation at Jaffa Port is a pilot-scale demonstration array consisting of a limited number of small-scale floaters, designed primarily
to validate system durability, grid integration, and real-world production performance under varying marine conditions.
The record
outputs achieved during the 3-meter wave events provide valuable engineering data that supports the optimization and scaling of Eco Wave
Power’s technology for future commercial projects.
Future commercial
deployments are expected to utilize significantly larger floaters and a greater number of units, which are anticipated to substantially
increase energy capture and overall system capacity compared to pilot-scale installations.
Planned
R&D: During 2026, the Company plans to continue advancing its technology through targeted research and development activities,
including upgrades to key hydraulic components to improve system efficiency and durability, the development of wave-by-wave verification
software designed to analyze real-time wave conditions versus power production, and upgrades to the system’s automation and control
architecture. In addition, the Company plans to develop WaveGPT, a proprietary software platform intended to incorporate artificial intelligence
and advanced data analytics to analyze operational and oceanographic data, support predictive maintenance, optimize system performance
and assist in forecasting electricity generation. The Company intends to collaborate with Florida Atlantic University in connection with
a grant proposal submitted by the university for the development of advanced software tools supporting wave energy systems, which may
include the development of the WaveGPT platform.
United States: Port of Los
Angeles Pilot Project
On September
9, 2025, Eco Wave Power achieved a historic milestone with the launch of the first onshore wave energy project in the United States at
the Port of Los Angeles, developed in collaboration with AltaSea and Shell Marine Renewable Energy.
The project
demonstrates Eco Wave Power’s patented technology integrated with existing port infrastructure and serves as a pilot installation
designed to validate the technical, regulatory, operational and economic feasibility of deploying wave energy systems within U.S. port
environments.
The launch
coincided with growing policy support for marine energy. In October 2025, U.S. Congresswoman Nanette Barragán visited the pilot
station at AltaSea and called for a $1 billion federal investment in wave energy through the proposed Marine Energy Technologies Acceleration
Act. During the same month, the project was named to TIME’s Best Inventions of 2025, recognizing it as one of 300 innovations worldwide
“changing the way we live, work, and think”.
During
development and the operational trial period, the project achieved several key milestones:
| ● | Full development lifecycle
completed, including permitting, engineering design, fabrication, installation and operational trial. |
| ● | Successful integration
with existing marine infrastructure, validating that wave energy systems can be deployed without seabed anchoring, offshore construction
activities or subsea cabling. |
| ● | Regulatory feasibility
confirmed, with all required approvals obtained, including the U.S. Army Corps of Engineers Nationwide Permit (NWP 52) and the Port of
Los Angeles Revocable Permit (RP25-05), while environmental reviews under NEPA and CEQA determined that the installation would have no
significant environmental impact. |
| ● | Operational reliability
demonstrated, with the system successfully operating under real marine conditions and tidal variations without structural degradation. |
| ● | Cost and deployment advantages
validated, with total pilot project capital costs of less than $1 million, demonstrating the economic benefits of Eco Wave Power’s
onshore configuration compared to offshore wave energy systems. |
In March
2026, Eco Wave Power submitted the final pilot project report to Shell International Exploration and Production Inc. under the Pilot Test
Agreement, confirming that the project successfully achieved its technical and operational objectives and thereby completing the full
scope of the agreement.
The Eco
Wave Power technology was also highlighted in a report by a U.S. Department of Energy National Laboratory, which emphasized the strong
economic and deployment advantages of coastal-structure-integrated wave energy systems, including reduced installation complexity and
the ability to deploy wave energy technologies using existing marine infrastructure.
Overall,
the Port of Los Angeles pilot demonstrated that Eco Wave Power’s onshore wave energy technology can be deployed safely, cost-effectively
and with minimal environmental impact, establishing a technical and regulatory foundation for future commercial-scale deployments on breakwaters,
port structures and other coastal infrastructure worldwide. It will now continue to serve as an educational and demonstrational pilot
project showcasing wave energy technology.
Portugal: Eco Wave Power Advances Megawatt-Scale
Wave Energy Project in Portugal
Eco Wave Power continued advancing the development
of its first megawatt-scale wave energy power station in Porto, Portugal, under the Company’s 20 MW concession agreement with Administração
dos Portos do Douro, Leixões e Viana do Castelo (APDL). The 1 MW project represents the first MW-scale implementation of Eco Wave
Power’s technology in Europe.
During 2025 and early 2026, the project achieved
several important development milestones:
| ● | Grid connection progress: The Company formally accepted
the grid connection conditions with E-REDES, Portugal’s national electricity distribution operator, and paid the first installment
representing 50% of the grid connection fee, marking a key step toward integration of wave energy into Portugal’s electricity grid. |
| ● | Engineering and technical validation: Eco Wave Power
completed a detailed wave and loads assessment in collaboration with MetOcean Consult, confirming that the wave climate and loading conditions
at the Barra do Douro breakwater are suitable for the deployment of the Company’s next-generation floater technology. |
| ● | Execution planning completed: Following internal engineering
reviews, the Company submitted its full execution plan to APDL on January 8, 2026, marking the transition of the project from the planning
stage toward the construction phase. |
| ● | Infrastructure preparations: In parallel, Eco Wave Power
commenced infrastructure enhancement activities at the project site, aimed at preparing the existing breakwater structure for the installation
of the wave energy conversion equipment. |
Overall, the Porto project represents an important
step toward the commercial deployment of wave energy in Europe and is expected to serve as the first megawatt-scale installation under
Eco Wave Power’s 20 MW concession in Portugal, providing valuable operational experience for future large-scale wave energy developments.
In March 2026, APDL informed the Company that
the Barra do Douro breakwater experienced localized damage following an unusually strong storm event in the region. As the owner of the
infrastructure, APDL indicated that it intends to conduct a structural assessment of the breakwater and subsequently carry out any necessary
repair works. APDL reiterated its continued interest in Eco Wave Power’s innovative wave energy project and its intention to advance
the initiative following completion of the assessment process. While the Company expects that the assessment and potential repair works
may affect the previously anticipated execution timeline, the Company has not yet received formal written confirmation regarding the scope
of the works or any revised schedule and is currently awaiting APDL’s official assessment in order to determine the potential implications
for the project timeline and related regulatory procedures.
It should also be noted that any structural review
and repair work may strengthen the breakwater infrastructure, which could ultimately benefit the project. In addition, certain breakwater
reinforcement works had originally been included within the Company’s project budget, and therefore such works, if carried out by
APDL, may reduce certain infrastructure costs previously anticipated as part of the project scope.
Taiwan First Wave Energy Project
Eco Wave Power continued advancing its first wave
energy project in Taiwan through its collaboration with I-Ke International Ocean Energy Co. (“I-Ke”), a subsidiary of Lian
Tat Company, a leading maritime engineering firm. Under the agreement between the parties, I-Ke will locally manufacture the project’s
floaters based on Eco Wave Power’s proprietary design and will purchase a 100 kW turnkey wave energy conversion unit from the Company,
including hydraulic, electrical and automated control components.
I-Ke is responsible for the local elements of
the project, including the manufacturing of floaters and hydraulic cylinders, as well as securing the required permits, land use approvals
and other regulatory authorizations. The collaboration is designed to support local manufacturing and installation capabilities, while
positioning Taiwan as a potential regional hub for wave energy development in the Asia-Pacific region.
Following the signing of the agreement, Eco Wave
Power’s Founder and Chief Executive Officer, Inna Braverman, visited the proposed project site together with I-Ke’s business
development and project management representatives to review the installation plans. Local port officials who joined the visit expressed
support for the initiative, which represents an important step toward introducing wave energy as part of Taiwan’s renewable energy
mix.
During 2025, the project achieved several important
milestones:
| ● | Land-use tender award: The project secured the land-use
rights tender at Suao Port, providing the designated site for the installation of the wave energy conversion unit and supporting infrastructure. |
| ● | Land lease agreement executed: In December 2025, I-Ke
had signed the land lease agreement with Suao Port for the project site. The agreement provides for a five-year lease term, with an option
for extension. |
| ● | Regulatory timeline established: Under the lease terms,
the application for the transfer of land use rights is required to be submitted to the Taiwan International Ports Corporation by March
22, 2026, and all Port Work Permits are expected to be obtained by October 2026. |
The Suao Port project represents an important
step in Eco Wave Power’s strategy to expand its technology into Asia-Pacific markets and to demonstrate the viability of locally
manufactured wave energy systems.
India: An MOU with BPCL to Harness India's
Wave Energy Potential
In February 2025, Eco Wave Power signed a non-binding
memorandum of understanding with Bharat Petroleum Corporation Limited (“BPCL”), with a view to jointly developing wave energy
projects in India, beginning with a site-assessment study. The first phase after the site assessment will include the deployment of a
100 KW pilot project at BPCL’s Mumbai Oil Terminal. BPCL will oversee regulatory approvals, permits and land use consent, while
we will provide our wave energy converter technology, conduct research and optimize power generation efficiency.
The agreement was signed by Mr. Chandrasekhar
N, Head of Research and Development, BPCL and Ms. Braverman on behalf of the Company, in the presence of Honourable Minister Hardeep Singh
Puri, Minister of Petroleum and Natural Gas of the Government of India and the Chairman and Managing Director of BPCL, Mr. G. Krishnakumar.
BPCL, a government-owned Fortune 500 oil and gas
giant with a market capitalization of approximately $12 billion, has identified Eco Wave Power as a strategic partner following an extensive
evaluation of wave energy technologies.
The collaboration aligns with India’s Ministry
of New and Renewable Energy’s recognition of ocean energy as a promising renewable resource, with an estimated 40,000 MW of untapped
potential along the country’s coastline. Eco Wave Power is currently pending a purchase order to be issued by BPCL for the site-assessment
stage of the project.
South Africa: Port of Ngqura Feasibility Study
Eco Wave Power continued expanding its presence
in new markets through its collaboration with Africa Great Future Development Ltd. (AGFDL) to evaluate the potential deployment of wave
energy at the Port of Ngqura in South Africa’s Eastern Cape Province. During 2026, the Company completed a feasibility study assessing
site conditions, wave resource availability and preliminary system configuration at the port. The results delivered encouraging findings,
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 regulatory approvals.
The study also confirmed that the port’s
existing coastal infrastructure and direct ocean exposure could support the integration of Eco Wave Power’s onshore wave energy
technology using existing marine structures. Following completion of the study, AGFDL is reviewing the results together with Eco Wave
Power to determine potential next steps, including project structuring, regulatory pathways and development timelines for a possible wave
energy installation at the site.
The project represents Eco Wave Power’s
first step into the African market and aligns with the Company’s strategy to expand into regions with strong coastal wave resources
and growing demand for renewable energy solutions.
ADS Repurchase
In June 2025, the Company repurchased 5,067 ADSs
representing 40,536 common shares for $27 thousand. The cost was recorded as treasury shares and deducted from equity.
CEO Commentary:
2025 was a year of meaningful progress for Eco
Wave Power as the Company continued to advance the commercialization of its onshore wave energy technology while expanding its international
project portfolio. During the year, Eco Wave Power successfully launched the first onshore wave energy pilot project in the United States
at the Port of Los Angeles, completed the operational pilot program in collaboration with Shell Marine Renewable Energy, and in March
2026 submitted the final report confirming that the project achieved its technical and operational objectives. The project demonstrated
that wave energy systems can be safely integrated with existing port infrastructure and deployed using conventional onshore construction
practices, providing a validated pathway for future commercial-scale deployments.
At the same time, the Company’s EWP-EDF
One project at Jaffa Port in Israel continued to demonstrate strong operational performance. The system maintained zero downtime since
the beginning of 2025, generated stable electricity production under varying wave conditions, and achieved the highest wave conditions
and peak production levels recorded at the site to date. These operational results provide valuable engineering data that supports the
optimization and scaling of Eco Wave Power’s technology for future commercial deployments.
Eco Wave Power also continued advancing its international
project pipeline. In Portugal, the Company progressed the development of its first megawatt-scale wave energy power station through completion
of engineering assessments, wave analysis studies, and submission of the full execution plan to the port authority. The port authority
(APDL) recently informed Eco Wave Power that the breakwater structure experienced localized damage following an unusually strong storm
event in the region and is currently conducting an engineering assessment before undertaking repair works. While the Company is awaiting
the official findings of this assessment and the potential implications for the project timeline, APDL has reiterated its continued interest
in Eco Wave Power’s innovative wave energy project. Any structural review and repair works may also further strengthen the breakwater
infrastructure, which could ultimately benefit the project. In addition, part of the breakwater reinforcement had originally been included
in the project budget, and therefore such works may reduce certain infrastructure costs previously anticipated as part of the project
scope.
While the Company remains committed to advancing
the Porto project, Eco Wave Power continues to develop additional opportunities worldwide and intends to prioritize other projects of
similar or larger scale while structural assessments and repair works are carried out at the Portuguese site. The Company believes that
maintaining a diversified global project pipeline will allow it to continue progressing toward commercial-scale wave energy deployments
while strengthening its position within the global renewable energy sector.
Eco Wave Power also made progress in several additional
markets. In Taiwan, the Company’s partner I-Ke secured a land lease agreement at Suao Port for the deployment of Eco Wave Power’s
first project in the country. The Company also expanded its presence in emerging markets, including collaboration with Bharat Petroleum
Corporation Limited (BPCL) in India to explore wave energy deployment and the completion of a feasibility study indicating the potential
for an approximately 8 MW wave energy project at the Port of Ngqura in South Africa.
During 2025, the Company also demonstrated disciplined
financial management. While operating expenses increased during the year as Eco Wave Power invested in the expansion of its global activities,
the Company achieved a 24% reduction in operating expenses in the fourth quarter of 2025 compared to the third quarter, reflecting improved
cost management as projects transitioned through key development phases. Eco Wave Power ended the year with $6.3 million in cash and short-term
deposits, providing a solid financial foundation to support continued growth and project development.
Looking forward, Eco Wave Power is particularly
encouraged by the growing global demand for clean electricity driven by the rapid expansion of artificial intelligence, high-performance
computing and data center infrastructure. These technologies require significant and reliable electricity supply, and many of the world’s
largest data centers are located near coastal population centers where energy demand is concentrated. The Company believes that wave energy
systems integrated into existing coastal infrastructure may offer an attractive renewable energy solution in such environments, as they
can generate electricity in close proximity to high-demand regions while minimizing the need for long-distance transmission infrastructure.
Eco Wave Power also plans to continue advancing
its digital and data-driven capabilities. During 2026, the Company intends to explore the development of WaveGPT, a software platform
designed to incorporate artificial intelligence and advanced analytics to analyze oceanographic and operational data, support predictive
maintenance, optimize system performance and improve forecasting of electricity generation. The Company plans to collaborate with Florida
Atlantic University, which has developed a similar AI-based system known as PowerGPT, and which has submitted a grant proposal for the
development of advanced software tools supporting renewable energy systems. If approved, the collaboration may include the development
of the WaveGPT platform, leveraging FAU’s experience with PowerGPT and Eco Wave Power’s operational wave energy data.
Eco Wave Power remains focused on advancing the
commercialization of wave energy technology and believes that the combination of growing global electricity demand, increasing interest
in coastal renewable energy solutions and the emergence of AI-driven energy needs creates significant long-term opportunities for the
Company.
The Company would like to thank its shareholders,
partners and supporters for their continued confidence and support as Eco Wave Power works to advance the global transition to renewable
energy.
2025 Financial Overview
| ● | Revenue for the year ended December 31, 2025 was $38 thousand,
compared to $168 thousand for the year ended December 31, 2024. Revenue during 2025 was generated from a feasibility study conducted
in South Africa, while revenue in 2024 was primarily derived from a wave energy project in Taiwan. As Eco Wave Power continues to focus
on advancing its pilot projects and global expansion activities, revenues may vary between periods depending on the timing and nature
of project development activities. |
| ● | Operating expenses for the year ended December 31, 2025 were
$3.15 million, representing an increase of 28% compared to 2024, primarily reflecting the Company’s continued investment in the
advancement of its international projects and technology development. |
| ● | Research and development expenses increased by $197 thousand,
or 37%, to $733 thousand, compared to $536 thousand in 2024. The increase was primarily attributable to expanded technology development
activities in Israel, Portugal and the United States, including work related to the Company’s U.S. pilot project as well as $20
thousand in additional depreciation expenses. |
| ● | Sales and marketing expenses increased by $108 thousand, or
36%, to $409 thousand, compared to $301 thousand in 2024. The increase was mainly attributable to new hires in the Company’s U.S.
subsidiary, increased travel activities supporting international project development, and expanded marketing and outreach efforts, including
activities associated with the launch of the Company’s pilot station at the Port of Los Angeles. |
| ● | General and administrative expenses increased by $305 thousand,
or 17%, to $2,078 thousand, compared to $1,773 thousand in 2024. The increase was primarily attributable to higher payroll and related
expenses associated with the Company’s growing operational footprint, as well as increases in depreciation, professional services
and office-related costs required to support the Company’s expanding global activities. |
| ● | Other income for the year ended December 31, 2025 was $161 thousand,
compared to $225 thousand in 2024. Other income during 2025 was primarily derived from technology demonstrations and development support
activities in the United States and India, as well as management fees from a joint venture received by the Company. |
| ● | Share of net loss of a joint venture accounted for using the
equity method increased by $16 thousand, or 20%, to $95 thousand, compared to $79 thousand in 2024, primarily reflecting depreciation
and operational costs associated with the joint venture’s activities. |
| ● | Operating loss increased by $794 thousand, or 28%, to $3,132
thousand, compared to $2,338 thousand in 2024. The increase primarily reflects the Company’s continued investment in research and
development activities and the advancement of its global project portfolio. |
| ● | Net financial income decreased by $822 thousand, resulting in
net financial expense of $592 thousand for 2025, compared to net financial income of $230 thousand in 2024. The change was primarily
attributable to foreign exchange rate fluctuations, including the appreciation of the Swedish Krona and the New Israeli Shekel against
the U.S. dollar. |
| ● | Net loss for the year ended December 31, 2025 was $3,724 thousand,
compared to $2,108 thousand in 2024, reflecting the Company’s continued investments in expanding its technology development and
global project pipeline. |
| ● | In June 2025, the Company repurchased 5,067 ADSs representing
40,536 common shares for $27 thousand. The repurchased shares were recorded as treasury shares and deducted from equity. |
| ● | As of December 31, 2025, the Company held $6.3 million in total
liquidity, consisting of $6.0 million in cash and cash equivalents and $0.3 million in restricted short-term bank deposits, providing
a solid financial position to support continued project development, technology advancement and global expansion initiatives. |
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 Thursday, March 19, 2026, at 9:00 AM Eastern time.
| ● | The dial-in numbers for the conference call are 877-545-0320
(toll-free) or 973-528-0002 (international). |
If requested, please provide participant access code: 325680.
| ● | The event will be webcast live,
available at: https://www.webcaster5.com/Webcast/Page/2922/53773 |
| ● | You may submit your questions for the call until March 18, 2026
at 13:00 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 Thursday, April 2, 2026. You may access the replay by dialing 877-481-4010 from the U.S.
or 919-882-2331 for international callers, using the Replay ID 53773. The archived webcast will also be available on the investor relations
section of the Company’s website.
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.
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 projections
for the type of commercial sites it will focus on and run, the installation of the Port of Los Angeles project will continue
to serve as an educational and demonstrational pilot project showcasing wave energy technology, the potential implications to the
Portugal project timeline given that the breakwater structure experienced localized damage following an unusually strong storm event in
the region, the possibility that APDL’s structural review and repair works may also further strengthen the breakwater infrastructure,
which could ultimately benefit the project, the expectation I-Ke will locally manufacture the project’s floaters based on Eco Wave
Power’s proprietary design and will purchase a 100 kW turnkey wave energy conversion unit from the Company, including hydraulic,
electrical and automated control components pursuant to the wave energy project sale agreement and the potential for the collaboration
to position Taiwan as a regional hub for wave energy development in the Asia-Pacific region , the prospective development of wave energy
projects in India in connection with the non-binding memorandum of understanding with BPCL, the estimation that there is 40,000 MW of
untapped potential along the India’s coastline, 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, the belief that wave energy systems integrated into existing coastal infrastructure may offer an attractive renewable energy
solution in such environments for powering artificial intelligence, as they can generate electricity in close proximity to high-demand
regions while minimizing the need for long-distance transmission infrastructure, the intent to explore the development of WaveGPT and
collaborate with Florida Atlantic University, which has developed a similar AI-based system known as PowerGPT . 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 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.
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