Eco Wave Power launches first U.S. onshore wave energy project

LOS ANGELES - Eco Wave Power (NASDAQ:WAVE), a renewable energy company whose stock has surged 125% over the past year according to InvestingPro data, has launched its first U.S. wave energy project at the Port of Los Angeles, marking the first onshore wave energy installation in the United States, according to a company press release.

The demonstration site, developed in collaboration with AltaSea and Shell Marine Renewable Energy, features floaters that capture ocean wave motion to generate renewable electricity. While currently in demonstration mode, the project aims to establish a foundation for future commercial-scale operations. With an impressive gross profit margin of 75% and a strong liquidity position evidenced by a current ratio of 3.38, the company appears well-positioned to fund its growth initiatives.

The launch aligns with California’s climate policies and Senate Bill 605, which calls for creating a wave energy roadmap for the state. At the federal level, Congresswoman Nanette Díaz Barragán has introduced the Marine Energy Technologies Acceleration Act, a proposed $1 billion initiative to scale marine energy nationwide.

"California has been a pioneer for climate policy, and we are proud to see wave energy included in Senate Bill 605," said Inna Braverman, Founder and CEO of Eco Wave Power. She also announced upcoming projects in Taiwan, India, and Portugal.

Michael Galvin, Director of Waterfront and Commercial Real Estate at the Port of Los Angeles, highlighted the project’s significance for local sustainability goals: "The San Pedro Bay Port Complex has big goals to get to zero emissions in the next decade. We can only do this with significantly scaled-up local energy generation."

The company is also exploring potential installations in other regions, including a feasibility study for a wave energy power station at the Port of Ngqura in South Africa’s Eastern Cape Province.

Eco Wave Power’s technology has been recognized as a "Pioneering Technology" by the Israeli Ministry of Energy and has received support from organizations including the European Union Regional Development Fund and the United Nations Global Climate Action Award.

In other recent news, Eco Wave Power Global AB reported its second-quarter 2025 earnings, revealing a mixed financial performance. The company missed earnings per share (EPS) expectations, with actual EPS at -0.13, compared to the forecasted -0.0727, resulting in a 78.82% negative surprise. However, the company achieved a significant revenue milestone, reporting $100,000 in revenue, which doubled the forecasted $50,000, marking a 100% revenue surprise. Meanwhile, Eco Wave Power has made strides in its wave energy projects, with the successful operational testing of its wave energy pilot project at the Port of Los Angeles. This marks the first time the company’s innovative floaters have been lowered into water at the site. Additionally, in Taiwan, Eco Wave Power’s partner, I-KE International Ocean Energy Co., secured a land use tender from Suao Port Company to install Taiwan’s first onshore wave energy pilot station. This development follows a competitive selection process, granting exclusive rights to Zone C at Suao Port. These recent developments highlight Eco Wave Power’s ongoing efforts in expanding its wave energy projects globally.

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