Eco Wave Power Reports Q3 Results: Historic U.S. Launch and Global Milestones Achieved

Core Insights - Eco Wave Power has made significant advancements in Q3 2025, including the launch of its first U.S. project and recognition by TIME as one of the Best Inventions of 2025, supporting its global growth in wave energy technology [1][8][24]. Financial Overview - For the nine months ended September 30, 2025, operating expenses increased to $2.48 million from $1.97 million in the same period of 2024, primarily due to investments in U.S., Portugal, and Asia projects [32]. - Operating expenses for Q3 2025 were $888 thousand, reflecting an 8% increase quarter-over-quarter, driven by higher Sales & Marketing costs to support the U.S. project launch [21][30]. - The net loss for Q3 2025 was $996 thousand, a 28% reduction from the previous quarter, indicating improved operational efficiency [22][30]. Project Developments - The U.S. pilot project at the Port of Los Angeles was launched in September 2025, marking the first onshore wave energy installation in the U.S. [4][5]. - In Taiwan, Eco Wave Power has entered an agreement for local manufacturing and installation of a wave energy pilot station, marking a significant step in the country's renewable energy sector [9][10]. - The company is advancing preparations for Portugal's first megawatt-scale wave energy power plant, with plans for grid connection in 2026 [14][15]. International Recognition - The U.S. pilot project was featured on Good Morning America, providing unprecedented visibility for wave energy technology [3][24]. - Eco Wave Power's pilot project was named one of TIME's Best Inventions of 2025, highlighting its impact on climate change and sustainability [8][24]. Strategic Partnerships - Collaborations with local partners in the U.S., including AltaSea and Shell Marine Renewable Energy, emphasize the company's commitment to innovation and community engagement [25]. - In India, a Memorandum of Understanding with Bharat Petroleum Corporation Limited aims to explore wave energy deployment at the Mumbai Oil Terminal, tapping into a significant ocean energy market [12][13]. Research and Development - The EWP-EDF One project in Israel is focused on optimizing system performance through advanced testing and calibration, reinforcing Eco Wave Power's position as a global R&D hub for wave energy [16][18]. - The company is investing in R&D to lower equipment costs and enhance the scalability of its wave energy solutions [19][31].