# Eco Wave Power Global AB (publ)

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/fi/companies/Eco Wave Power Global AB (publ)).

## Overview

Eco Wave Power Global AB (publ) develops and operates onshore wave-energy systems that convert ocean and sea waves into electricity using patented technology installed on existing coastal infrastructure such as breakwaters, jetties, and piers. The company is headquartered in Tel Aviv, Israel, is publicly traded on Nasdaq Capital Market under the ticker WAVE, and has pursued projects across Israel, the United States, Europe, and selected Asia-Pacific markets.

## Products & services

• Onshore wave energy power stations
• Patented wave-to-electricity conversion systems
• Pilot and demonstration projects for coastal sites
• Project development and deployment services
• Grid-connected renewable power generation solutions

- **Wave energy systems** (45%) — Patented hardware and conversion systems that turn wave motion into electricity at coastal sites.
- **Project development** (25%) — Engineering, permitting, and deployment work for new wave-energy installations.
- **Pilot and demonstration stations** (20%) — Small-scale installations used to validate performance, integration, and commercial viability.
- **Operations and support** (10%) — Ongoing technical support and operational services for installed wave-energy assets.

- Onshore wave energy power stations
- Patented wave-to-electricity conversion systems
- Pilot and demonstration projects for coastal sites
- Project development and deployment services
- Grid-connected renewable power generation solutions

## Customers

The company’s direct customers and counterparties are typically ports, coastal infrastructure owners, utilities, government-linked energy bodies, and strategic partners involved in renewable-energy deployment. It also works with marine renewable-energy collaborators and public-sector programs that support pilot projects and commercialization. Demand is driven by customers seeking nearshore renewable power that can be sited on existing coastal structures without requiring large offshore installations.

- **Ports and harbor operators** (primary) — Buy pilot or commercial wave-energy systems for breakwaters, piers, and harbor infrastructure to generate on-site renewable power.
- **Utilities and grid buyers** (primary) — Purchase or offtake electricity from grid-connected wave stations for renewable supply diversification.
- **Government and innovation agencies** (secondary) — Support demonstration projects and research-linked deployments that advance marine renewable energy.
- **Strategic energy partners** (secondary) — Collaborate on pilots, technical validation, and commercialization of wave-energy assets.

- Ports and harbor operators seeking power at coastal assets
- Utilities and grid-connected energy buyers
- Government and public-sector energy agencies
- Strategic marine-energy partners and co-development sponsors
- Coastal infrastructure owners looking to monetize assets

## Geography

Eco Wave Power is anchored in Israel, where it developed and operates the country’s first grid-connected wave-energy power station. It is also active in the United States through a pilot station at the Port of Los Angeles, and it has projects planned in Portugal, Taiwan, and India, reflecting a globally distributed project pipeline.

- Israel is the company’s operating base and first commercial reference site
- United States includes the Port of Los Angeles pilot installation
- Portugal is a planned project market in the company pipeline
- Taiwan is part of the planned expansion pipeline
- India is included in the long-term project pipeline

## Strategy

Eco Wave Power’s strategy is to commercialize onshore wave energy by using existing coastal infrastructure, which lowers siting complexity versus offshore renewable projects. The company is building credibility through reference installations, strategic partners, and government or EU-backed programs, while expanding its pipeline into multiple geographies.

- **Deploy reference projects in key markets** (short-term) — Operational pilots help prove reliability, bankability, and grid integration for wave energy.
- **Expand the project pipeline** (medium-term) — A broader pipeline increases the chance of converting development activity into future installations.
- **Leverage partnerships and public support** (medium-term) — External sponsorship can reduce commercialization risk and improve market acceptance.

- Commercialize patented onshore wave-energy technology
- Use existing coastal infrastructure to simplify deployment
- Build reference projects to support future customer adoption
- Expand project pipeline across multiple countries
- Partner with public and private stakeholders on pilots

## Risks

The business depends on successful commercialization of a still-emerging generation technology, so project execution and technical performance risk are central. It also faces funding, permitting, and customer-adoption risk because wave-energy projects are site-specific, capital-intensive, and often depend on public or strategic support before scaling commercially.

- **Technology commercialization risk** [high] — The company operates in a niche renewable category that must prove durability, output, and economics at scale.
- **Project execution and permitting delays** [high] — Deployments depend on coastal infrastructure access, approvals, and third-party coordination.
- **Customer and partner concentration** [medium] — Early-stage renewable projects often rely on a limited number of strategic counterparties and sponsors.
- **Financing and dilution risk** [high] — Project development and commercialization can require external capital before recurring revenue scales.

- Wave-energy technology may be slower to commercialize than expected
- Project execution risk is high at pilot and first-of-kind sites
- Permitting and coastal site access can delay deployments
- Customer adoption depends on proving reliability and economics
- Capital needs may rise as the project pipeline expands

## Accounting

As a development-stage renewable company, Eco Wave Power’s results are likely to be affected by judgment around capitalization of development costs, project-stage expenses, and the timing of revenue recognition. Foreign-currency translation also matters because the company reports in multiple currencies and records exchange differences on foreign operations and presentation currency translation. The adoption of IFRS 18 and the use of estimates for ongoing projects mean reported figures can shift materially as projects advance or assumptions change.

- **Project-stage cost judgment** — Can materially affect operating loss and asset balances
- **Revenue recognition timing** — Affects quarter-to-quarter comparability
- **Foreign currency translation** — Can move comprehensive income and equity
- **IFRS 18 presentation** — Impacts comparability and analytical presentation

- Development-stage costs may affect timing of expense recognition
- Revenue recognition depends on project milestones and contract terms
- Foreign-currency translation can materially affect reported equity
- IFRS 18 changes presentation and disclosure, not economics
- Estimates and judgments are important for project-related balances

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*Last updated: 2026-09-28T12:03:31.116469+00:00*