Eco Wave Power begins operation of Los Angeles wave energy pilot

LOS ANGELES - Eco Wave Power Global AB (NASDAQ:WAVE), a $44.6 million market cap renewable energy company whose stock has surged over 20% in the past week, has successfully completed operational testing of its wave energy pilot project at the Port of Los Angeles, marking the first time its innovative floaters have been lowered into water at the site. According to InvestingPro data, the company maintains impressive gross profit margins of 75%.

The milestone, which was broadcast live on Good Morning America on Wednesday, represents a significant step for the company’s onshore wave energy technology in the United States. The project has now officially entered its operational phase following the completion of all installation work, including the placement of wave energy floaters, connection of hydraulic pipes, and installation of the onshore energy conversion unit. With a strong current ratio of 3.38, WAVE demonstrates solid financial flexibility to support its operational expansion.

Eco Wave Power plans to host a formal unveiling ceremony on September 9, 2025, at AltaSea at the Port of Los Angeles.

"Seeing our floaters lowered into the water for the first time is a moment of great pride," said Inna Braverman, Founder and CEO of Eco Wave Power, according to the company’s press release.

The Los Angeles demonstration station aims to showcase the company’s patented technology in U.S. marine conditions and support environmental monitoring in collaboration with local authorities, including the U.S. Army Corps of Engineers.

For the project, Eco Wave Power partnered with California-based companies All-Ways Metal for fabrication of the floaters and C&S Welding Inc. for installation work.

The company’s wave energy system attaches floaters to existing marine structures, with the motion of waves driving hydraulic cylinders that send pressurized fluid to a land-based energy conversion unit to generate electricity.

The Los Angeles pilot is part of Eco Wave Power’s global project pipeline of 404.7 MW, which includes planned operational sites in Taiwan, India, and Portugal, alongside its existing grid-connected station in Israel. While the company’s beta of -0.46 suggests it moves counter to market trends, InvestingPro analysis indicates the stock is currently trading above its Fair Value. Investors seeking deeper insights can access comprehensive financial analysis and 15 additional ProTips through the detailed Pro Research Report available on InvestingPro.

In other recent news, Eco Wave Power Global AB reported its second-quarter 2025 earnings, revealing a mixed performance. The company missed earnings per share (EPS) expectations, posting an EPS of -0.13 compared to the anticipated -0.0727, resulting in a negative surprise of 78.82%. However, Eco Wave Power delivered a significant revenue surprise, with actual revenue reaching $100,000, doubling the forecast of $50,000. This achievement marked a 100% revenue surprise for the quarter. Additionally, in Taiwan, Eco Wave Power’s partner, I-KE International Ocean Energy Co., secured a land use tender from Suao Port Company. This allocation is for the installation of Taiwan’s first onshore wave energy pilot station. The tender grants exclusive rights to Zone C at Suao Port, marking a significant step for wave power testing in the region. These developments highlight the company’s ongoing efforts and challenges in the renewable energy sector.

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