Eco Wave Power’s Taiwan partner wins port land for wave energy pilot

TAIPEI - Eco Wave Power Global AB’s (NASDAQ:WAVE), a $44.6 million market cap renewable energy company with impressive 75% gross profit margins according to InvestingPro data, has secured a significant milestone through its Taiwan partner. The company has obtained a land use tender from Suao Port Company to install the country’s first onshore wave energy pilot station, marking the first time a Taiwanese commercial port has been allocated for wave power testing.

I-KE International Ocean Energy Co., a subsidiary of Lian Tat Company, was awarded exclusive rights to Zone C, one of three designated test zones in the southern outer breakwater of Suao Port, following a competitive selection process completed in July 2025. The project aligns with WAVE’s expansion strategy, with InvestingPro analysis showing the company maintains a strong balance sheet with more cash than debt.

The 6.75-hectare area was divided into three equal zones of 2.25 hectares each as part of Taiwan’s national energy transition policy. I-KE will work with Eco Wave Power to deploy a 100 kW onshore wave energy conversion unit at the site, which was purchased under a turnkey sale agreement signed in late 2024.

"This tender award represents a groundbreaking moment for Eco Wave Power and for Taiwan," said Inna Braverman, Founder and CEO of Eco Wave Power, in a press release statement.

The Suao Port location faces the Pacific Ocean, offering stable wave conditions with potential for commercial-scale wave power generation. According to the companies, the pilot project is intended to serve as the foundation for a phased development, with plans to expand to 20 MW in the medium term.

CY Huang, Chairman of Lian Tat Company, said the selection through a competitive process by Taiwan Port Corporation "validates the strength of Eco Wave Power’s technology and Taiwan’s readiness to embrace marine renewables."

Eco Wave Power, listed on Nasdaq under the ticker WAVE, develops onshore wave energy technology with projects planned in multiple countries including the United States, Portugal, and India. The company’s stock has shown remarkable momentum, delivering a 100% return over the past year. For detailed analysis and additional insights, including 12 more exclusive ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Eco Wave Power Global AB reported its second-quarter 2025 earnings, which included a notable increase in revenue despite missing earnings per share (EPS) expectations. The company posted an EPS of -0.13, which was below the anticipated -0.0727, resulting in a negative surprise of 78.82%. On a positive note, Eco Wave Power’s revenue reached $100,000, significantly surpassing the forecasted $50,000 and achieving a 100% surprise. These developments highlight the company’s ability to exceed revenue expectations while facing challenges in meeting EPS projections. Analysts have not provided further updates on the stock’s rating following these earnings results. Investors may find the revenue performance encouraging, although the EPS miss indicates areas for potential improvement. These recent developments are critical for understanding the current financial standing of Eco Wave Power.

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