Los Angeles, California--(Newsfile Corp. - March 31, 2025) - Eco Wave Power (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a leading onshore wave energy technology company, is pleased to announce that it has been granted Revocable Permit 25-05 by the Port of Los Angeles for the construction and demonstration of its innovative wave energy technology at Berth 70 in San Pedro, California. The permit was approved and executed on behalf of the Executive Director, Eugene D. Seroka on March 27, 2025. Inna Bra ...

Core Viewpoint - D-Wave Quantum (QBTS) has experienced significant stock price appreciation due to strong growth in bookings and an expanding customer base in the quantum computing market [1][2][5]. Group 1: Financial Performance - QBTS shares surged 62% following the announcement of fourth-quarter 2024 results, with bookings increasing 502% year-over-year to $18.3 million [1]. - The Zacks Consensus Estimate for 2025 revenues is projected at $15.42 million, reflecting a year-over-year increase of 76.23% [11]. Group 2: Market Position and Growth Drivers - QBTS has broadened its customer base to 135 clients, including 76 commercial customers, with 28 being Forbes Global 2000 companies [9][10]. - The global quantum computing market was valued at approximately USD 1.42 billion in 2024 and is expected to grow at a compound annual growth rate of 20.5% from 2025 to 2030 [7]. - Partnerships with companies like Carahsoft and Zapata Computing have been instrumental in expanding QBTS's reach in the public sector [8]. Group 3: Technological Advancements - In the fourth quarter of 2024, QBTS launched on-premises systems for quantum experimentation and calibrated its third 4,400-qubit Advantage2 processor, enhancing performance metrics [5][6]. - The Julich Supercomputing Centre acquired a D-Wave Advantage annealing quantum computer, integrating it with Europe's exascale JUPITER supercomputer [5]. Group 4: Competitive Landscape - QBTS faces increasing competition from companies like Rigetti Computing, IBM, Alphabet, and IonQ, which are advancing their quantum technologies [13][14]. - Rigetti Computing's recent collaboration with Quanta Computer, committing over $100 million, exemplifies the competitive pressures in the quantum computing sector [15]. Group 5: Valuation Concerns - QBTS stock is considered overvalued, trading at a forward 12-month Price/Sales ratio of 158.54X, significantly higher than the sector average of 5.81X [18].

Exhibit 99.1 Eco Wave Power Files Annual Report on Form 20-F for the Year Ended December 31, 2024, and Reports Significant Progress in Financial and Operational Results 30% Reduction in Net Cash Used for Operations, 7% Decrease in Operating Expenses, 11% Increase in Cash Position, First Revenues from Sale of a Pilot Station, Federal License Secured for Port of LA Project, Megawatt-Scale Project Advancing in Portugal, and an MOU with Fortune 500 Bharat Petroleum in India Stockholm, Sweden – March 3, 2025 – E ...

Core Insights - Eco Wave Power has made significant progress in financial and operational results for the fiscal year ended December 31, 2024, including a 30% reduction in net cash used for operations and an 11% increase in cash position [1][4][28]. Financial Performance - The company reported a 7% decrease in operating expenses compared to 2023, contributing to a cumulative 32% reduction since 2022 [5][36]. - Cash and deposits reached $9.3 million as of December 31, 2024, an increase from $8.4 million at the end of 2023 [5][36]. - Total revenues and other income amounted to $393 thousand, reflecting a 21.7% increase from $323 thousand in 2023 [5][36]. - Operating loss decreased by $75 thousand, or 3%, to $2,338 thousand for the year ended December 31, 2024 [36][46]. Major Project Developments - The EWP-EDF One wave energy project at Jaffa Port became the first wave energy project in Israel supplying clean energy to the national grid [7][29]. - The company secured a final federal permit for its wave energy project at the Port of Los Angeles, with procurement and installation works set to commence in the first quarter of 2025 [10][12]. - Progress was made on a megawatt-scale wave energy project in Portugal, with key appointments and engineering advancements [13][16]. - A wave energy project sale agreement was signed with I-Ke International Ocean Energy Co. in Taiwan, marking the company's entry into the Asian market [17][19]. - A memorandum of understanding was signed with Bharat Petroleum Corporation Limited in India to develop wave energy projects, starting with a feasibility study [21][24]. Research and Development - Planned R&D in 2025 aims to refine the wave energy formula to improve energy generation efficiency [9][31]. - The company anticipates an increase in R&D expenses due to the implementation of projects in the U.S., Portugal, and Taiwan [36][43]. Market Position and Future Outlook - Eco Wave Power is positioned for long-term success in various markets, including Portugal, Los Angeles, and Taiwan, with a focus on financial efficiency and project execution [4][30]. - The company aims to maximize energy production and continue its growth trajectory in 2025 [31][34].

Financial Performance - The company incurred net losses of $2.11 million and $1.87 million for the fiscal years ended December 31, 2024, and 2023, respectively, with an accumulated deficit of $15.1 million as of December 31, 2024[52]. - The company has a history of operating losses and may not achieve profitability or positive cash flow in the near future[52]. - The company expects to incur additional ongoing costs associated with operating as a U.S. listed public company[59]. - The company may need to raise substantial additional funding to commercialize its products, which may not be available on acceptable terms[54]. - The company faces significant risks related to its financial position and capital requirements, which could materially affect its business operations[46]. - The company has received royalty-bearing grants that require it to pay royalties on certain projects, impacting its revenue generation and profitability efforts[63]. - The company may face indemnification obligations under various contracts, which could adversely impact its financial condition if obligations exceed insurance coverage[110]. - The company has never declared or paid cash dividends on its share capital and does not anticipate doing so in the foreseeable future[190]. - The company estimates that compliance with public company reporting requirements will incur additional expenses of at least several hundred thousand dollars annually[207]. Cash and Funding - As of December 31, 2024, the company's cash, cash equivalents, and short-term bank deposits totaled $9.3 million, expected to fund operations for at least the next 12 months[54]. - The company relies on government subsidies and grants for its renewable energy projects, and any reduction or elimination of these incentives could adversely affect its financial condition[60]. - The company is obligated to comply with various reporting requirements and project milestones under its grant agreements, with noncompliance potentially resulting in enforcement actions[175]. Intellectual Property and Technology - The company has filed multiple patent applications but cannot guarantee that any will result in issued patents, which may affect its ability to protect its proprietary technology[66]. - The company may not be able to enforce its intellectual property rights effectively in foreign jurisdictions, limiting its competitive advantage[68]. - The company relies on trade secret protection and confidentiality agreements to safeguard proprietary know-how that is not patentable, but acknowledges that trade secrets can be difficult to protect[70]. - The company has entered into cooperation agreements with partners, which may restrict its commercial use of jointly developed intellectual property[78]. - Future success depends on achieving cost savings over existing solutions; failure to demonstrate cost competitiveness may hinder commercialization and profitability[151]. - Continuous improvement and timely introduction of new products are critical; delays or failures in product development could adversely affect financial results[152]. - The company is focused on developing a smart and cost-efficient wave energy converter (WEC) technology that aims to revolutionize energy production and capture a share of the $3.4 trillion expected investment in the renewable energy sector over the next decade[215][220]. Market and Competition - The company faces intense competition from larger entities with greater resources, which could hinder its ability to develop and commercialize wave energy projects effectively[117]. - The anticipated growth in demand for renewable energy may not materialize, potentially reducing market opportunities and revenues for the company's products[113]. - The company may face significant competition in its targeted markets, which include energy, engineering, and coastal cities[134]. - The market price of renewable energy sources is volatile, which may significantly impact the company's revenue and profitability[122]. Regulatory and Compliance Risks - The company operates under various environmental laws and regulations, and non-compliance could severely damage its business and financial position[81]. - The company is required to obtain permits for operations in different regions, and difficulties in obtaining these permits could limit its ability to grow[82]. - Changes in environmental laws and regulations could reduce demand for the company's services and impact revenue timing[83]. - Compliance with privacy regulations such as GDPR is critical, as failure to comply may result in significant fines and penalties, adversely affecting the company's financial condition and reputation[100][101]. - The company is not currently regulated as an electric public utility, but future regulations could impose significant operational restrictions and increase costs[102]. - The company is subject to risks associated with international operations, including compliance with complex laws and potential anti-corruption violations[90]. Operational Challenges - The company may experience challenges in managing growth, which could disrupt operations and lead to increased expenses and reduced revenue generation capabilities[111]. - The sales cycle for larger public sector customers may be longer and more costly, potentially delaying revenue recognition and increasing operational complexities[114]. - The company relies heavily on key personnel, and the loss of executives could adversely affect its ability to execute business plans and achieve operational success[107][109]. - The company has only manufactured a limited amount of WEC technology and has not produced it in significant quantities for commercial production[144]. - The company relies on third parties for the supply and manufacture of components, which could adversely affect its business if not managed properly[124]. Project Development and Partnerships - The company has a project pipeline totaling over 404.7 megawatts, including agreements for up to 5 megawatts in Gibraltar, 20 megawatts in Portugal, 77 megawatts in Turkey, 2 megawatts in Spain, and 25 megawatts in Mexico[232]. - The company has entered into various agreements, including Power Purchase Agreements and Concession Agreements, to advance its WEC technology projects[232]. - The company is exploring the addition of solar panels to its WEC technology, but success is uncertain due to geographic limitations[121]. - The company is engaged in a feasibility study with Shell to identify prime locations for commercial installations in the U.S., with a pilot project at the Port of Los Angeles expected to begin construction within six months after receiving licenses[236]. - A concession agreement in Portugal allows for the construction of a wave energy power plant with a capacity of up to 20 megawatts, starting with a one-megawatt station, with construction expected to begin within two years[238]. - The company signed an agreement in October 2024 for the sale of a wave energy generation unit to I-Ke International Ocean Energy Co., which will manufacture floaters locally[239]. - A non-binding memorandum of understanding was signed with Bharat Petroleum Corporation Limited in February 2025 to jointly develop wave energy projects in India, starting with a 100 KW pilot project[240]. External Factors - Political, economic, and military instability in Israel may adversely affect the company's operations and financial results[164]. - The ongoing multi-front conflict has not yet damaged facilities or supply chains, but potential disruptions in imports and exports could impact operations[168]. - Employee obligations for military service may cause operational delays, affecting business prospects and financial condition[169]. - Economic boycotts and sanctions against Israel could impair relationships with customers and delay or rescind current projects, adversely affecting operating results[170]. Research and Development - Ongoing research and development into combining solar panels with wave energy conversion (WEC) technology is being conducted, but advancements in other renewable technologies could impact the company's cost structure and profitability[119]. - Research and development expenses were $0.54 million and $0.51 million for the fiscal years ended December 31, 2024 and 2023, respectively, with expectations for future increases[139]. - The company is committed to building wave energy power stations that provide clean electricity access while minimizing environmental impact[241].

Core Insights - Eco Wave Power Global AB is initiating critical infrastructure enhancements for its first 1MW wave energy project in Porto, Portugal, expected to be completed by 2026 [1][2][3] Project Overview - The Porto project aims to harness ocean wave energy to generate sustainable electricity, transforming "The Gallery," an existing breakwater tunnel, into a facility for wave energy conversion equipment and an underwater museum [2][3] - The project supports Portugal's renewable energy strategy, which targets 85% renewable electricity generation by 2030, and serves as a model for global expansion [3] Key Activities - Eco Wave Power is undertaking several activities to prepare "The Gallery" for equipment installation, including sand and debris removal, structural reinforcements, and waterproofing measures [6][7] - Following infrastructure enhancements, the next phase will involve the production and deployment of proprietary wave energy technology [3][5] Management and Engineering Support - The company appointed Juan José Gómez as Power Station Manager to oversee project implementation, ensuring alignment with technical and operational goals [4] - MOQ Engineering, a Portuguese firm, has been engaged for final design and load calculations, utilizing advanced technologies like Building Information Modelling (BIM) [4][5] Commitment to Sustainability - Eco Wave Power emphasizes its commitment to delivering a robust and scalable wave energy solution in Portugal, collaborating with top-tier engineering experts [5][6] - The company operates the first grid-connected wave energy system in Israel and is expanding globally with projects in Los Angeles, Taiwan, and Portugal, totaling over 404.7 MW in its project pipeline [6]

Core Viewpoint - Eco Wave Power Global AB is set to present at the Centurion One Capital 8th Annual Growth Conference, highlighting its advancements in wave energy technology and growth strategy [1][4]. Company Updates - Inna Braverman, the Founder and CEO, will present key updates on existing and upcoming projects on March 6th, 2025, at 2:30 PM EST, and will participate in a panel discussion titled "Innovating Ahead" at 1:45 PM EST [2][4]. - Throughout the conference, Braverman will be available for investor meetings to discuss the company's growth strategy and technological advancements in the wave energy sector [3]. Industry Context - Eco Wave Power is recognized as a leader in onshore wave energy technology, focusing on sustainable energy solutions and strategic collaborations with industry leaders globally [4]. - The company operates the first grid-connected wave energy system in Israel, co-funded by EDF Renewables IL and the Israeli Energy Ministry, and is expanding its project pipeline, which totals 404.7 MW [9][10]. - The company has received support from prestigious institutions such as the European Union Regional Development Fund and was honored with the United Nations' Global Climate Action Award [10].

Core Insights - Eco Wave Power Global AB has signed a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation Limited (BPCL) to introduce wave energy as a significant part of India's renewable energy strategy [1][5][7] Group 1: Partnership Details - The MoU was signed during India Energy Week 2025, with key figures from both companies present, including India's Minister of Petroleum and Natural Gas [2][4] - BPCL, a government-owned Fortune 500 company with a market capitalization of approximately $12 billion, has chosen Eco Wave Power as a strategic partner after evaluating wave energy technologies [4][5] - The collaboration will begin with a feasibility study for a 100 kW pilot project at BPCL's Mumbai Oil Terminals, with plans for larger commercial-scale installations across India [5][6] Group 2: Market Potential - India's Ministry of New and Renewable Energy (MNRE) recognizes ocean energy as a promising renewable resource, estimating 40,000 MW of untapped potential along the coastline [3][4] - The partnership provides Eco Wave Power with access to one of the fastest-growing renewable energy markets, leveraging BPCL's infrastructure and financial strength [7][8] Group 3: Strategic Vision - BPCL aims to achieve Net Zero emissions by 2040 and is expanding its renewable energy initiatives through this collaboration [5] - Eco Wave Power's technology is positioned to play a crucial role in India's clean energy transition, with significant potential for wave energy along the country's extensive coastline [8]

Core Insights - Eco Wave Power Global AB has signed a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation Limited (BPCL) to introduce wave energy as a significant part of India's renewable energy strategy [1][5][7] Company Overview - Eco Wave Power is a leader in onshore wave energy technology, focusing on converting ocean and sea waves into sustainable electricity [12] - BPCL is a government-owned Fortune 500 oil and gas company with a market capitalization of approximately $12 billion, actively pursuing renewable energy initiatives [4][11] Collaboration Details - The MoU was signed during India Energy Week 2025, with the first phase involving a 100 kW pilot project at BPCL's Mumbai Oil Terminals [5][8] - BPCL will handle regulatory approvals and land use consents, while Eco Wave Power will provide its patented technology and optimize power generation efficiency [6] Market Potential - India's coastline has an estimated 40,000 MW of untapped ocean energy potential, aligning with the Ministry of New and Renewable Energy's recognition of ocean energy as a promising resource [3][4] - The partnership offers Eco Wave Power a direct entry into one of the fastest-growing renewable energy markets, leveraging BPCL's infrastructure and financial strength [7] Strategic Vision - BPCL aims to achieve Net Zero emissions by 2040, and this collaboration is part of its broader commitment to expanding renewable energy initiatives [5] - Inna Braverman, CEO of Eco Wave Power, emphasized the enormous potential for wave energy in India, given the significant population living along the coastline [8]

Core Insights - Eco Wave Power Global AB is participating in India Energy Week 2025, showcasing its wave energy technology and signing a collaboration agreement with a Fortune 500 Indian company for a pilot project in Maharashtra [1][4]. Company Overview - Eco Wave Power is a leading developer of onshore wave energy technology, focusing on converting ocean waves into clean electricity [8]. - The company operates the first grid-connected wave energy system in Israel and is expanding its projects globally, including installations at the Port of Los Angeles, Taiwan, and Portugal, with a total project pipeline of 404.7 MW [8][9]. Industry Context - India Energy Week is a flagship energy event in India, supported by the Ministry of Petroleum and Natural Gas, aimed at discussing the future of energy and driving energy transformation [2]. - The event has previously been inaugurated by Prime Minister Narendra Modi and serves as a platform for global industry leaders and policymakers [2]. Technology Presentation - Eco Wave Power will present its patented wave energy generation model at the exhibition, allowing attendees to experience how the technology converts ocean waves into reliable electricity [3]. Strategic Collaboration - The collaboration agreement with a Fortune 500 Indian company represents a significant step in integrating wave energy into India's renewable energy strategy [4][5].