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STOCKHOLM - Eco Wave Power Global AB (NASDAQ:WAVE), a $46.38 million market cap company with impressive 75% gross profit margins, has completed the installation of all main components for its first U.S. wave energy project at the Port of Los Angeles, with the official launch scheduled for September 9, 2025. According to InvestingPro analysis, the stock typically moves counter to market trends with a beta of -0.46, making it an interesting diversification opportunity.
The company has installed the energy conversion unit, which transforms wave motion into electricity through a hydraulic-to-electric process. This follows the receipt of final regulatory clearance in March with Revocable Permit 25-05 from the Port of Los Angeles.
For the project, Eco Wave Power partnered with California-based companies, including All-Ways Metal for floater manufacturing and C&S Welding for installation work.
In Portugal, the company is advancing preparations for its first megawatt-scale wave energy plant under a 20MW concession. Progress includes completion of civil engineering designs, submission of the execution plan, and payment of 50% of the grid connection fee to E-REDES. The 1MW plant is planned for grid connection in 2026.
Eco Wave Power has also expanded into new markets, signing a memorandum of understanding with India’s Bharat Petroleum Corporation Limited to explore wave energy deployment at the Mumbai Oil Terminal, and entering Taiwan through an agreement with I-Ke International Ocean Energy Co.
In July, the company signed an agreement with Africa Great Future Development Ltd to conduct a feasibility study for a wave energy project at South Africa’s Port of Ngqura.
For the six months ended June 30, 2025, Eco Wave Power reported operating expenses of $1.59 million, up 18% year-over-year, and a net loss of $1.89 million. The company ended the period with $7.94 million in cash and short-term deposits. While the stock has seen a -27.82% YTD return, InvestingPro’s detailed analysis and comprehensive research reports can help investors better understand the company’s valuation and growth potential within the renewable energy sector.
According to the press release statement, the company is positioning itself as a frontrunner in wave energy commercialization across four continents.
In other recent news, Eco Wave Power Global AB has completed the installation of its wave energy pilot project at the Port of Los Angeles. The project includes wave energy floaters, hydraulic pipes, supporting infrastructure, and an onshore energy conversion unit, which were installed by local contractor C&S Welding Inc. The energy conversion unit, a critical component of the system, transforms ocean wave motion into electricity. This marks a significant milestone for the company’s first U.S. wave energy project, with an official unveiling scheduled for September 9, 2025. Additionally, Eco Wave Power has signed an agreement with Africa Great Future Development Ltd to conduct a feasibility study for a wave energy power station at the Port of Ngqura in South Africa. This study represents Eco Wave Power’s initial venture into the African market, aiming to address the country’s reliance on coal-fired power plants and ongoing power shortages. These developments highlight Eco Wave Power’s continued efforts to expand its wave energy technology on a global scale.
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