Eco Wave Power Eyes 400-MW Pipeline as Wave Energy Projects Gain Momentum

Eco Wave Power Global AB (publ) (NASDAQ:WAVE) is advancing plans to commercialize its wave-energy technology through projects in Israel, the United States, Portugal, Taiwan and India, CEO and founder Inna Braverman said during the 2026 Small Cap Showcase Conference in New York.

Braverman said the company’s technology produces electricity from ocean and sea waves using floaters attached to existing man-made coastal structures, including piers, breakwaters and jetties. The floaters move with the waves and operate hydraulic cylinders that transmit biodegradable fluid to land-based accumulators. Pressure generated by the system drives a hydromotor and generator, with electricity delivered to a grid connection or directly to customers such as ports or data centers.

Nearshore Approach Differentiates Technology

Braverman contrasted Eco Wave Power’s approach with offshore wave-energy projects that place generation equipment in the open ocean. She said offshore designs can require ships, divers, underwater mooring systems and cables, while placing expensive machinery in environments exposed to high waves and storms.

Eco Wave Power instead keeps its floaters in the water while housing its electrical and hydraulic equipment on land in a standard shipping container. The company installs its equipment from shore using forklifts and cranes, Braverman said. The approach also places projects near existing grid infrastructure because breakwaters and ports are generally located near population centers.

The company’s system includes a storm-protection mechanism that raises floaters above the water when conditions exceed operating limits, according to Braverman. The floaters can remain in an elevated position until the storm passes and then return to operation.

Eco Wave Power has 18 patents and patent applications across Europe, Israel and the United States, including 13 approved patents and five pending applications, Braverman said.

Projects Move From Pilots Toward Commercial Scale

The company operates the EWP-EDF One power station in Israel, which Braverman described as the first wave-energy project connected to Israel’s national electrical grid. The project was co-funded by the Israeli government and EDF, or Électricité de France. Braverman said the government funded 50% of the project cost and EDF funded the other half.

Eco Wave Power also has a pilot project at the Port of Los Angeles, supported by Shell. Braverman said the company submitted a report to Shell and the port indicating that the pilot met its goals. The company is now pursuing licensing for a project of up to 60 megawatts at the port.

• A first project in Suao Port, Taiwan, through an agreement with I-Ke International Ocean Energy.
• A memorandum of understanding with Bharat Petroleum for a project at the Mumbai Oil Terminal in India.
• A 1-megawatt project in Porto, Portugal, under a 20-megawatt concession agreement.

Braverman said Eco Wave Power’s total project pipeline exceeds 400 megawatts across Europe, North and South America, Oceania and Asia. The company has operated for six years while grid-connected in Gibraltar, three years in Israel and one year at the Port of Los Angeles, she said.

Data Centers Seen as Potential Customers

Braverman said the company sees data centers as a potential market because facilities are often located near coastlines and use water for cooling. She said Eco Wave Power could connect generation directly to a data center where feasible, though it can also sell power to the grid.

The company is a member of NVIDIA’s Inception program and has been featured in NVIDIA materials related to powering AI infrastructure, Braverman said. In response to an analyst question, she said NVIDIA’s program does not currently provide Eco Wave Power with capital. Instead, the company has access to software and can work with other program members, including on a digital twin intended to improve and upgrade its technology.

Braverman added that the company is discussing additional potential collaborations with NVIDIA but said those discussions were not public.

Funding and Business Model

Eco Wave Power has raised approximately $30 million since inception, Braverman said. She said the company had a cash position of $8.4 million and quarterly spending of approximately $700,000, with an annual net loss of about $3 million.

The company initially pursued pilot projects through joint ventures or turnkey sales to avoid funding asset construction from its own balance sheet, according to Braverman. Over the longer term, it intends to use a build-own-operate model, holding power stations for an expected 25-year operating life and selling the generated electricity.

Braverman did not provide break-even guidance, but said that given the company’s current cost structure, “one big project” could allow it to reach break-even and move toward profitability.

About Eco Wave Power Global AB (publ) (NASDAQ:WAVE)

Eco Wave Power Global AB (publ) develops technology designed to generate electricity from ocean and wave energy. Its systems use floaters installed on or near existing marine structures, such as breakwaters, piers and seawalls, to capture wave movement and convert it into electricity through hydraulic and electrical power-generation equipment.

The company’s onshore wave-energy approach is intended to reduce the need for offshore construction and to integrate with existing coastal infrastructure.