Recent Updates — WAVE
Bharat Petroleum Corporation Limited (BPCL) issued a purchase order to Eco Wave Power Global AB for an initial site assessment phase of a planned wave energy project in Mumbai, India. The study will evaluate technical feasibility and site conditions for installing onshore wave energy technology at BPCL’s Marine Oil Terminals at Jawahar Deep. Work is scheduled to be completed within four months of issuance. This marks the first implementation phase following an MoU signed in 2025 during India Energy Week, advancing the collaboration toward a planned pilot installation. Eco Wave Power Global AB (publ) is a leading developer of onshore wave energy technology that converts ocean waves into electricity using existing marine infrastructure.
Eco Wave Power Global AB reported operational data from its pilot-scale EWP-EDF One wave energy power station at Jaffa Port, Israel, for April and May 2026. During periods with wave heights exceeding one meter, the system generated approximately 461 kWh in April (peak 26.2 kW) and 1,004 kWh in May (peak 39.1 kW). The station maintained zero downtime since early 2025, exporting most electricity to Israel's national grid under a Power Purchase Agreement with the Israel Electric Corporation. This data supports ongoing technology optimization ahead of larger commercial deployments. Eco Wave Power Global AB operates in the renewable energy industry, developing onshore wave energy technologies that convert ocean waves into electricity using existing coastal infrastructure.
Eco Wave Power Global AB announced that APDL has officially commenced rehabilitation works at the Barra do Douro breakwater in Porto, Portugal, following storm-related damage. This infrastructure repair is a prerequisite for the installation of Eco Wave Power's first 1 MW wave energy project. CEO Inna Braverman will meet with APDL and local subcontractors in mid-August 2026 to coordinate completion timelines and access for installation. APDL agreed to support a request for an extension of the grid-connection deadline to align with these works. The agreement allows for potential development of up to 20 MW of capacity, part of a broader global pipeline totaling 404.7 MW. Eco Wave Power operates in the renewable energy industry, specializing in onshore wave energy technology installed on existing coastal infrastructure.
Eco Wave Power Global AB reported a net loss of $1.67 million for the six months ended June 30, 2026, an 11.6% decrease from the prior year period. The company raised $4.0 million in gross proceeds through a registered direct offering on June 26, 2026, issuing 400,000 ADSs at $10.00 per share and accompanying warrants for an additional $3.0 million if fully exercised. Cash and cash equivalents increased to $8.15 million as of June 30, 2026. The company completed its Port of Los Angeles pilot project with Shell and AltaSea in March 2026 and is advancing a 1 MW wave energy project in Porto, Portugal, following structural repairs to the breakwater by APDL. Additionally, the company secured a land lease for a new project at Suao Port in Taiwan. Eco Wave Power operates in the renewable energy industry, developing onshore wave energy conversion technology.