Eco Wave Power Global (NASDAQ: WAVE)

Eco Wave Power Global (NASDAQ: WAVE) is a pioneering renewable energy company that harnesses the immense power of ocean and sea waves through its patented, cost-effective onshore technology. By integrating wave energy systems with existing infrastructure, the company minimizes environmental impacts while delivering scalable and sustainable electricity solutions. Its innovative approach positions it as a leader in the clean energy sector, addressing global energy challenges with advanced technology.

The company’s mission is to revolutionize renewable energy by providing reliable, grid-connected wave energy systems that align with global sustainability goals. Eco Wave Power envisions a future where wave energy becomes a mainstream source of clean electricity, contributing to the fight against climate change. This vision underscores its commitment to supporting a global transition to a greener economy.

Headquartered in Tel Aviv, Israel, Eco Wave Power collaborates with leading institutions and governments worldwide to accelerate the adoption of wave energy technology.

Technology

Eco Wave Power’s innovative technology transforms ocean and sea waves into electricity using floaters attached to existing marine structures. These floaters drive hydraulic pistons to generate power, with the entire system operating onshore or nearshore. This approach eliminates the high costs and maintenance issues associated with offshore installations while ensuring minimal environmental impact.

The system’s modular design and adaptability to varying wave conditions make it suitable for diverse geographic and climatic scenarios. Rigorous testing and optimization ensure reliability and scalability, providing a competitive edge with low operational costs and efficient performance.

Projects and Operations

Eco Wave Power has successfully deployed wave energy projects globally, showcasing the viability and scalability of its onshore technology. Notable initiatives include:

• Gibraltar Wave Energy Plant: Operational since 2016, this project exemplifies the seamless integration of wave energy with grid infrastructure.
• Israel’s Grid-Connected Wave Energy System: Co-funded by EDF Renewables IL and the Israeli Energy Ministry, this project has set a benchmark for renewable energy innovation.
• Port of Los Angeles: A forthcoming installation that introduces wave energy to North America.
• Portugal and Taiwan Initiatives: Expanding the company’s reach, these projects contribute to Eco Wave Power’s 404.7 MW project pipeline.

The company’s advancements have been recognized and supported by prominent organizations such as the European Union Regional Development Fund, Innovate UK, and Horizon 2020, highlighting its innovative contributions to renewable energy.

Market Opportunity

The global wave energy market is poised for significant growth, with projections exceeding $43 billion by 2030 and a compound annual growth rate (CAGR) of over 10%. Wave energy has the potential to supply twice the current global electricity demand, making it a critical component of the renewable energy mix.

Eco Wave Power’s focus on onshore and nearshore systems uniquely positions it to overcome the high costs and maintenance challenges of offshore installations. Wave energy’s abundance, predictability, and reliability further enhance its appeal as a sustainable alternative to fossil fuels. With supportive regulatory frameworks and increasing global interest, Eco Wave Power is well-positioned to capitalize on this growing market.

Leadership Team

Inna Braverman, Director and CEO, is a globally recognized leader in clean technology. She founded Eco Wave Power to bring wave energy to the forefront of renewable solutions. Braverman has been named one of the “100 most influential individuals in the global climate arena” by Apolitical.

Aharon Yehuda, CFO, is a seasoned financial expert. He ensures the company’s financial health and scalability, leveraging his extensive experience in financial management and strategic planning.