Eco Wave Power AB (publ)(WAVE) - 2025 Q1 - Quarterly Report

Project Development - Eco Wave Power has secured Revocable Permit 25-05 from the Port of Los Angeles for its wave energy project, marking a significant step in its U.S. market expansion[1] - The pilot project is co-funded by Shell Marine Renewable Energy and is expected to be completed within 2-3 months, following the final permit approval[2] - The project will utilize approximately 10,396 square feet of land and 2,016 square feet of water area for the installation of its wave energy conversion system[3] - Up to eight wave energy floaters will be installed on an existing concrete wharf structure, with an energy conversion unit consisting of two 20-foot shipping containers[4] Energy Potential - The U.S. Department of Energy estimates that wave energy could generate over 1,400 terawatt-hours per year, enough to power approximately 130 million homes[5] Industry Impact - This pilot project is seen as a crucial step toward the commercialization of wave energy, enhancing Eco Wave Power's leadership in the industry[6] - Eco Wave Power is preparing to install projects in multiple locations, including the Port of Los Angeles, Taiwan, and Portugal, contributing to a project pipeline totaling 404.7 MW[7]