Eco Wave Power: Harnessing the Ocean?s Kinetic Energy
Company Overview
Eco Wave Power Global AB (Nasdaq: WAVE) is a pioneering renewable energy company specializing in the generation of clean electricity from ocean and sea waves. Founded in 2011 by Inna Braverman and David Leb, the company is headquartered in Stockholm, Sweden, with significant operational bases in Tel Aviv, Israel. Eco Wave Power is distinguished by its "onshore" approach to wave energy, which avoids the high costs and environmental risks associated with traditional offshore systems that require deep-sea mooring and underwater cabling.
The company has transitioned from a pure research-and-development phase into an active deployment stage, operating grid-connected systems and holding a global project pipeline exceeding 400 MW. Its technology has been recognized as a "Pioneering Technology" by the Israeli Ministry of Energy and received the United Nations Global Climate Action Award.
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Core Technology: The Onshore Wave Energy Converter (WEC)
Eco Wave Power?s patented technology is designed to be simple, robust, and cost-effective. Unlike offshore systems that must withstand the full force of the open ocean, Eco Wave Power?s system is primarily attached to man-made coastal structures.
1. The Floater Mechanism
The system utilizes uniquely shaped "point absorber" floaters that are attached by robust arms to existing marine structures such as breakwaters, jetties, or piers. As waves pass, the floaters move up and down, creating kinetic energy.
* Storm Protection: A key feature of the technology is its safety mechanism. When wave heights become too high for safe operation (e.g., during a storm), the floaters automatically rise above the water level or submerge into a "parked" position until the weather subsides.
2. The Energy Conversion Unit (ECU)
The movement of the floaters compresses and decompresses hydraulic cylinders located on the structure. This pressure is transmitted via eco-friendly hydraulic fluid to an onshore Energy Conversion Unit.
* Hydraulic Motor & Generator: The fluid rotates a hydraulic motor, which in turn drives a generator to produce electricity.
* Grid Integration: The power is conditioned through an inverter and then fed directly into the local electrical grid.
3. Smart Control System
The entire array is managed by a sophisticated automation system that monitors wave conditions in real-time. It optimizes the timing of the hydraulic pressure release to maximize energy extraction based on the frequency and height of the incoming waves.
Key Projects and Global Presence
EWP-EDF One (Jaffa Port, Israel)
This is the company?s flagship grid-connected project, developed in collaboration with EDF Renewables IL. Following its inauguration in late 2024, the site has served as a primary "R&D Powerhouse." By February 2026, the project achieved record production results, successfully generating power during 3-meter wave conditions with zero downtime recorded since early 2025.
Port of Los Angeles (United States)
In September 2025, Eco Wave Power launched its first U.S.-based pilot project at AltaSea in the Port of Los Angeles. Supported by Shell Marine Renewable Program, this project serves as a critical proof-of-concept for the North American market, demonstrating how large-scale ports can utilize their existing infrastructure to generate local, renewable power.
Porto (Portugal)
Eco Wave Power is currently advancing its first megawatt-scale project in Porto under a 20 MW concession agreement. This site is notable for its high wave availability (forecasted at 90%), and the project includes an innovative "underwater wave energy museum" to educate the public on maritime renewables.
Global Pipeline
The company holds a 404.7 MW project pipeline with ongoing feasibility studies and agreements in:
* Taiwan: Collaboration with I-Ke for coastal installations.
* India: A Memorandum of Understanding with Bharat Petroleum (BPCL).
* South Africa: Recent completion of a feasibility study at the Port of Ngqura indicating suitability for an 8.3 MW array.
Products and Services
- Turnkey Wave Power Plants: Eco Wave Power provides the design, manufacturing, and installation of complete wave energy arrays, tailored to the specific breakwater geometry of a client's port.
- WEC Components: Sale of patented components, including specialized floaters and the proprietary Energy Conversion Unit (ECU).
- Feasibility and Engineering Services: The company offers detailed wave resource assessments, environmental impact analysis, and structural engineering services for port authorities looking to integrate renewable energy.
- Operation & Maintenance (O&M): Comprehensive service contracts utilizing the company?s smart monitoring software to ensure high uptime and system longevity.
Strategic Vision for 2026
Eco Wave Power is focusing on scaling its hardware. While earlier pilots used smaller units, the company is now deploying "Commercial-Scale" floaters designed for higher energy capture and improved capacity factors. This evolution is aimed at achieving a Levelized Cost of Energy (LCOE) that is competitive with solar and wind, positioning wave energy as a reliable, 24/7 baseload contributor to the global renewable energy mix.
