Eco Wave Power appoints Hilary Ackermann to board of directors

Published 17/07/2025, 14:08
Eco Wave Power appoints Hilary Ackermann to board of directors

STOCKHOLM - Eco Wave Power Global AB (NASDAQ:WAVE), a $38.44 million market cap renewable energy company, has elected Hilary E. Ackermann to its Board of Directors following approval at the company’s Annual General Meeting, according to a press release issued Thursday. InvestingPro analysis shows the company maintains strong financial health with a current ratio of 3.74, indicating robust liquidity.

Ackermann, who previously served on the company’s Advisory Board, joins ahead of the official opening of Eco Wave Power’s first U.S. wave energy project at the Port of Los Angeles, developed with Shell and AltaSea. The company boasts impressive gross profit margins of 75%, according to recent financial data.

The new board member currently serves on Vistra Energy’s Board of Directors, where she chairs the Sustainability and Risk Committee. Her experience spans over three decades in the energy and financial sectors, including senior roles at Goldman Sachs and Swiss Bank Corporation (now UBS).

"Her distinguished career in clean energy oversight, risk strategy, and governance will be instrumental as we scale our global footprint," said Inna Braverman, CEO of Eco Wave Power.

Ackermann’s previous board experience includes positions at Dynegy Inc., Apollo Investment Corporation, and Credit Suisse Holdings (USA). She received recognition in the NACD Directorship 100 in 2020 and was listed among Women Inc.’s Most Influential Corporate Directors in 2018.

Eco Wave Power describes itself as a developer of onshore wave energy technology that converts ocean and sea waves into electricity. The company operates Israel’s first grid-connected wave energy power station and reports having a project pipeline of 404.7 MW with planned developments in the Port of Los Angeles, Portugal, Taiwan, and India. Trading at $6.58, the stock has shown significant volatility with a YTD return of -40.18%. InvestingPro subscribers have access to 15 additional key insights and a comprehensive Pro Research Report, offering deep-dive analysis of WAVE’s financial health and growth prospects.

In other recent news, Eco Wave Power Global AB has completed production of all floaters for its wave energy pilot project at the Port of Los Angeles, marking a significant milestone as it prepares to launch the first onshore wave energy station in the United States. The floaters, custom-engineered by California-based All-Ways Metal, are set to be installed on a pre-existing jetty structure where wave motion will be converted into electricity. The project, supported by Shell’s Marine Renewable Program, is expected to officially open later this summer, representing the company’s entry into the U.S. renewable energy market. Additionally, Eco Wave Power has joined a €2.45 million Atlantic wave energy initiative, funded by the European Union, which aims to advance wave energy deployment across Atlantic coastal regions. This project involves collaboration with organizations from Portugal, Spain, France, and Ireland. In another development, Eco Wave Power shareholders have approved the renewal of its American Depositary Shares repurchase program, allowing the company to repurchase up to 10 percent of its total outstanding shares over the coming year. This authorization will remain valid until the 2026 Annual General Meeting.

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