Bullish indicating open at $55-$60, IPO prices at $37
LOS ANGELES - Eco Wave Power Global AB (NASDAQ:WAVE), a renewable energy company with a market capitalization of $46 million and impressive gross profit margins of 75%, has completed installation work on its wave energy pilot project at the Port of Los Angeles, the company announced Monday. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt.
The installation includes wave energy floaters, hydraulic pipes, supporting infrastructure, and an onshore energy conversion unit. The work was performed by local contractor C&S Welding Inc.
The company plans to begin operational testing of the non-grid-connected demonstration station, followed by an official unveiling ceremony scheduled for September 9, 2025, at AltaSea at the Port of Los Angeles.
"Completing installation at the Port of Los Angeles marks a significant milestone in our U.S. journey," said Inna Braverman, Founder and CEO of Eco Wave Power, in a press release statement. The company’s stock has shown strong momentum, delivering a 112% return over the past year. InvestingPro analysis suggests the stock is currently trading above its Fair Value, with 15+ additional insights available to subscribers.
The pilot project aims to demonstrate the company’s wave energy technology in U.S. marine conditions, facilitate environmental monitoring, and serve as a learning hub for officials and potential customers. The company states the project will support regulatory engagement with local authorities, including the U.S. Army Corps of Engineers.
Eco Wave Power’s technology attaches floaters to existing marine structures, using wave motion to drive hydraulic cylinders that send fluid to a land-based energy conversion unit to produce electricity.
While the Los Angeles project is designed as a demonstration station, the company continues to rely on data from its grid-connected site in Israel, with additional operational projects planned in Taiwan, India, and Portugal.
The installation work involved collaboration with California-based companies, including All-Ways Metal, which produced the floaters, and C&S Welding Inc., which performed the installation.
This pilot project is part of Eco Wave Power’s U.S. commercialization strategy and contributes to what the company describes as its 404.7 MW global project pipeline. Investors should note that the company will report its next earnings on August 14, 2025. For comprehensive analysis of WAVE and 1,400+ other stocks, including detailed Fair Value assessments and expert insights, consider accessing the full research report on InvestingPro.
In other recent news, Eco Wave Power Global AB has made significant progress with its wave energy project at the Port of Los Angeles. The company announced the installation of the energy conversion unit, a crucial part of its patented wave energy system designed to convert ocean wave motion into electricity. Additionally, Eco Wave Power completed the installation of floaters for this project, marking a key milestone before the official unveiling scheduled for September 2025. In a related development, the company signed a final installation agreement with C&S Welding Inc. to install wave energy floaters and conversion equipment at the same port. Meanwhile, Eco Wave Power is expanding its reach by signing an agreement with Africa Great Future Development Ltd to conduct a feasibility study for a potential wave energy power station at the Port of Ngqura in South Africa. This marks the company’s first venture into the African market. Furthermore, Eco Wave Power has strengthened its leadership by appointing Hilary E. Ackermann to its Board of Directors. Ackermann’s appointment comes as the company prepares for the opening of its first U.S. wave energy project.
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