Los Angeles, California--(Newsfile Corp. - March 31, 2026) - Eco Wave Power Global AB (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a leading onshore wave energy technology company, today announced that it has submitted the final project completion report to Shell International Exploration and Production Inc. ("Shell"), marking the successful completion of the wave energy pilot objectives under a Pilot Test Agreement entered between the parties in 2024. Eco Wave Power pilot in LA, by Erik OlsenTo vie ...

Core Viewpoint - Eco Wave Power has made significant progress in its wave energy project at Suao Port, Taiwan, with the signing of a land lease agreement, marking a crucial step in the company's expansion into the Asia-Pacific region [1][4][11] Project Development - The land lease agreement was signed by Eco Wave Power's partner, I-Ke International Ocean Energy Co., in December 2025, allowing for a five-year lease term with an option for extension [2][4] - The application for the transfer of land use rights must be submitted by March 22, 2026, and all port work permits are expected to be obtained by October 2026, establishing a clear regulatory pathway for the project's implementation [3][11] Strategic Importance - The Suao Port project is a strategic initiative for Eco Wave Power, aimed at demonstrating the viability of locally manufactured wave energy systems in new international markets [4][11] - Taiwan is actively investing in renewable energy solutions, and the project aims to integrate wave energy into existing port infrastructure to produce clean electricity [4][11] Project Specifications - The project site at Suao Port has been designated as 6.75 hectares, divided into three test zones of 2.25 hectares each, with I-Ke awarded exclusive rights to Zone C [5][12] - Eco Wave Power plans to deploy Taiwan's first 100 kW onshore wave energy conversion unit at the site, purchased under a turnkey sale agreement signed in late 2024 [6][12] Company Overview - Eco Wave Power Global AB is a pioneering onshore wave energy company that transforms ocean and sea wave power into clean, reliable, and cost-efficient electricity through patented technology [6][12] - The company is expanding rapidly worldwide, with a project pipeline of 404.7 MW under development, including upcoming projects in Portugal, Taiwan, and India [9][12]

Financial Performance and Key Metrics - The company reported a net loss of approximately $3.7 million for 2025, reflecting increased operational expenses tied to infrastructure investments [2][3] - Cash at year-end was approximately $6.3 million, providing a solid financial base for ongoing operations [3] - Operating expenses were reduced by 4% in Q4 compared to the previous quarter, with R&D expenses down by 26% and sales and marketing expenses reduced by 32% [3] Business Line Performance - The company advanced key strategic projects, including the establishment of a U.S. pilot at the Port of Los Angeles and additional projects in Europe and Asia [2][4] - The pilot project in the U.S. was successfully launched and completed, demonstrating the integration of wave energy systems into existing port infrastructure [8] - The project at Jaffa Port in Israel maintained zero downtime and achieved peak production levels, providing valuable engineering data [8][9] Market Data and Key Metrics - The company is positioned to meet the growing electricity demands driven by AI and high-performance computing, particularly in coastal regions [4][10] - The development of a megawatt-scale project in Portugal is underway, with continued interest from the Port Authority despite recent structural assessments [9] - Partnerships are expanding, including a land lease agreement in Taiwan and feasibility studies for a potential project in South Africa [9] Company Strategy and Industry Competition - The company aims to transition from pilot projects to larger commercial wave energy arrays, with ongoing project advancements and improving cost discipline [5][10] - The intersection of AI and energy demand is seen as a significant opportunity, with wave energy positioned to provide clean energy close to demand centers [10][11] - The exploration of digital capabilities, including the Wave GPT platform, aims to leverage AI for performance optimization and predictive maintenance [11] Management Commentary on Operating Environment and Future Outlook - Management highlighted the importance of operational and financial efficiency as the company scales its energy infrastructure [3][4] - The CEO emphasized the critical need for reliable and renewable energy sources to support the growing AI industry [6][7] - The company is optimistic about its growth prospects, supported by validated technology and a growing global project pipeline [11] Other Important Information - The company was featured in NVIDIA's GTC Keynote, showcasing its technology as part of AI-driven energy solutions [4][6] - The successful completion of the U.S. pilot project provides a validated pathway for future commercial scale deployment [8] Q&A Session Summary - No specific questions or answers were recorded in the provided content, as the conference concluded without a Q&A segment [12]

Financial Performance and Key Metrics - In 2025, the company reported a net loss of approximately $3.7 million, reflecting increased operational expenses tied to infrastructure investments [2][3] - The company ended the year with approximately $6.3 million in cash, providing a solid financial base for ongoing operations [3] - Operating expenses were reduced by 4% in Q4 compared to the previous quarter, with R&D expenses down by 26% and sales and marketing expenses reduced by 32% [3] Business Line Performance - The revenue remains limited and is driven by project timing and milestone recognition, typical for a company at this stage [3] - The successful launch of the first onshore wave energy pilot project in the U.S. at the Port of Los Angeles was a key milestone [7][8] - The project at Jaffa Port in Israel maintained zero downtime and generated stable electricity under varying wave conditions [8] Market Data and Key Metrics - The company is advancing projects in Portugal and Taiwan, with a focus on megawatt-scale developments [9] - Collaboration with BPCL in India and feasibility studies for an eight-megawatt project in South Africa are part of the diversified global pipeline [9] Company Strategy and Industry Competition - The company is transitioning from pilot projects to larger commercial wave energy arrays, with a focus on operational and financial efficiency [5][10] - The intersection of AI and energy demand is seen as a significant opportunity, particularly for data centers located near coastal regions [10][11] - The company is exploring digital capabilities, including the Wave GPT platform, to optimize performance and improve energy forecasting [11] Management Commentary on Operating Environment and Future Outlook - Management highlighted the growing need for reliable and renewable energy sources due to the increasing electricity demands from AI-driven applications [6][10] - The company believes its technology is well-positioned to contribute to the evolving energy landscape, particularly in coastal areas [4][10] - The combination of validated technology, a growing project pipeline, and increasing demand for clean energy positions the company well for future growth [11] Other Important Information - The company was featured in NVIDIA's GTC Keynote, showcasing its digital twin technology as part of AI real-world energy solutions [4][6] Q&A Session Summary - No specific questions or answers were provided in the content, thus this section is not applicable.

Core Insights - Eco Wave Power Global AB reported significant operational achievements in February 2026, including record wave energy production at its EWP-EDF One pilot project in Jaffa Port, Israel [1][7]. Performance Metrics - The system operated for approximately nine days under moderate wave conditions, generating around 2,000 kWh of clean electricity during this period [2]. - The highest wave conditions recorded at the site reached approximately 3 meters, leading to an average power production of about 20 kWh and a peak production of 56.7 kW, marking the highest levels achieved to date [3][13]. Operational Resilience - Since the beginning of 2025, the EWP-EDF One system has maintained zero downtime, demonstrating stable operation in wave conditions of 1 meter and above [4]. - The performance in February further validates the resilience and scalability of Eco Wave Power's proprietary technology [4]. Future Prospects - Future commercial deployments are expected to utilize larger floaters and a greater number of units, which are anticipated to significantly enhance energy capture and overall capacity factors compared to the current pilot-scale installation [6]. - The pilot project serves as a demonstration array to validate system durability and real-world production performance, providing valuable data for future commercial-scale projects [5]. Global Expansion - Eco Wave Power is expanding its project pipeline globally, with upcoming projects in Portugal, Taiwan, and India, representing a total of 404.7 MW under development [10]. - The company has received international recognition and support from various organizations, including the European Union and the United Nations [10].

Core Insights - Eco Wave Power Global AB has been included in a significant U.S. Department of Energy report highlighting the potential of Coastal Structure Integrated Wave Energy Converters (CSI-WECs) along U.S. coastlines [1][2] Group 1: Report Overview - The report, produced by the National Laboratory of the Rockies for the DOE, assesses the technical, economic, and geographic opportunities for structure-integrated wave energy systems in the U.S. [2] - The analysis identifies structure-integrated wave energy as a lower-risk and higher-value deployment pathway within the marine energy sector [4][5] Group 2: Economic and Technical Benefits - CSI-WEC systems are integrated into existing coastal defense structures, such as breakwaters and jetties, providing a financially attractive route for marine energy deployment [5] - The report indicates that integrating wave energy converters can enhance the lifetime asset value of coastal defenses, turning them into revenue-generating clean energy assets [5][6] - The U.S. coastlines have an estimated theoretical wave energy potential of 2,640 terawatt-hours per year, with approximately 14% of the coastline already equipped with coastal defense structures [9] Group 3: Deployment Potential - Eco Wave Power was selected to conduct preliminary energy production analyses for four high-potential U.S. locations, with projected annual generation ranging from tens to hundreds of megawatt-hours per device [7] - The capital payback period for these projects is estimated at approximately five to six years, with potential energy value reaching millions of dollars over a 20-year project life [9] Group 4: Company Background - Eco Wave Power is a pioneering onshore wave energy company that has developed Israel's first grid-connected wave energy power station and recently launched its first U.S. demonstration project at the Port of Los Angeles [12][13] - The company is expanding its project pipeline globally, with upcoming projects in Portugal, Taiwan, and India, totaling 404.7 MW under development [14]

Core Insights - Eco Wave Power Global AB has successfully completed a feasibility study for a potential wave energy power station at the Port of Ngqura, South Africa, indicating a technical potential to deploy approximately 8.3 MW of installed wave energy capacity [1][3][4]. Company Overview - Eco Wave Power is a pioneering onshore wave energy technology company that transforms ocean and sea wave power into clean, reliable, and cost-efficient electricity through patented technology [10]. - The company operates a grid-connected wave energy power station in Jaffa Port, Israel, and is advancing projects in the United States, Portugal, Taiwan, and India, with a robust project pipeline of 404.7 MW under development [12]. Feasibility Study Findings - The feasibility study, conducted in collaboration with Africa Great Future Development Ltd (AGFDL), assessed site conditions, wave resource availability, and preliminary system configuration, supporting the port's suitability for onshore wave energy implementation [3][4]. - The study results will be reviewed in detail by AGFDL, after which both parties will evaluate potential next steps, including project structuring and regulatory pathways [5][8]. Strategic Importance - The Port of Ngqura is strategically located in South Africa's Eastern Cape Province and is adjacent to the Coega Special Economic Zone, making it a strong candidate for the first onshore wave energy deployment in Africa [8]. - South Africa faces significant energy supply challenges, highlighting the need for clean, reliable, and locally generated power, with over 2,800 kilometers of coastline offering long-term potential for wave energy [6].

Core Viewpoint - Eco Wave Power Global AB has reported stable and reliable wave energy production from its EWP-EDF One pilot project at Jaffa Port, Israel, generating over 2,300 kWh of clean electricity in January 2026, demonstrating the technology's operational robustness under real-world conditions [2][4][9]. Group 1: Project Performance - The EWP-EDF One system operated without downtime since the beginning of 2025, consistently performing in wave conditions of 1 meter and above [4]. - In January 2026, the project generated more than 2,300 kWh of electricity over approximately 11 days with wave heights between 1 and 2 meters [2][4]. - The performance data collected supports the scalability of Eco Wave Power's technology, indicating potential for larger floaters and more units in future commercial projects [6]. Group 2: Future Developments - Future commercial projects are planned to utilize significantly larger floaters and a greater number of units, which are expected to enhance energy capture and improve capacity factors [6][9]. - Eco Wave Power is expanding its global presence with projects in the Port of Los Angeles, Taiwan, India, and Portugal, representing a robust project pipeline of 404.7 MW under development [8][12]. Group 3: Company Mission and Technology - Eco Wave Power aims to accelerate the transition to renewable energy by transforming ocean waves into clean electricity through its patented technology [10][11]. - The company continues to optimize system design based on real-world operational experience, reinforcing wave energy as a predictable and complementary renewable energy source [7][9].

Core Insights - Eco Wave Power Global AB has signed a Letter of Intent (LOI) with Wavefront Asset Management Limited to facilitate financing for wave energy projects [1][2] - The LOI aims to support the transition from pilot projects to commercial-scale deployments of Eco Wave Power's wave energy technology [2][8] Financing Solutions - Wavefront is expected to provide structured equipment financing and leasing solutions, potentially covering up to 100% of equipment and installation costs [4][5] - The financing arrangements will allow for flexibility in transaction sizes, accommodating various project scales and customer profiles [4][5] Collaboration Details - Eco Wave Power may introduce customers to Wavefront for financing, with Wavefront acting as a funder and lessor [3][6] - The LOI has an initial term of 36 months and is intended to create efficient financing solutions for Eco Wave Power's global customer base [6][8] Strategic Importance - The collaboration is seen as critical for reducing financing barriers and accelerating the commercialization of wave energy technology [7][8] - Eco Wave Power is expanding its global presence with projects in Israel, the United States, Europe, and Asia, supported by strategic financing partnerships [8][11]

Core Viewpoint - Eco Wave Power Global AB has made significant progress in its 1 MW wave energy project in Porto, Portugal, marking a transition from planning to construction phase [1][4][9] Project Development - The company has completed a wave and loads assessment in collaboration with MetOcean Consult, which confirmed favorable conditions for the project [1][3][4] - A full execution plan has been submitted to Administração dos Portos do Douro, Leixões e Viana do Castelo, S.A. (APDL) [1][4] - The project is the first megawatt-scale implementation under a 20 MW concession agreement with APDL [2] Engineering and Design - MetOcean Consult has been retained for engineering and design optimization, providing essential metocean data for the project [2][4] - The assessment of the Barra do Douro breakwater has confirmed suitable wave loading conditions for Eco Wave Power's latest floater design [3][4] Financial Milestones - The project has achieved key financial milestones, including the payment of the first installment, which represents 50% of the grid connection fee [5] - Formal acceptance of grid connection conditions has been secured with E-REDES, Portugal's national electricity distribution system operator [5] Strategic Importance - The 1 MW wave energy station is designed to integrate ocean wave energy into Portugal's renewable electricity mix, contributing to the country's clean energy portfolio [8][9] - The project aligns with a tentative grid connection target in 2026, pending final regulatory approvals [5][9] Company Overview - Eco Wave Power is recognized as a leader in onshore wave energy technology, with a mission to accelerate the global transition to renewable energy [11][12] - The company has a robust project pipeline of 404.7 MW under development across various countries, including upcoming projects in Portugal, Taiwan, and India [13]