Eco Wave Power
Eco Wave Power develops patented onshore wave energy conversion systems that attach floaters to existing coastal structures to generate clean electricity, serving utilities, port authorities, and increasingly coastal AI data center infrastructure across six countries.
- Company typePublic
- Founded2011
- HeadquartersTel Aviv, Israel
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Eco Wave Power does
Eco Wave Power Global AB (publ), listed on Nasdaq under ticker WAVE, is a Sweden-incorporated wave energy technology company that was founded in Israel in 2011 and now operates with engineering in Tel Aviv, commercial operations in Miami, and registered headquarters in Stockholm. The company has developed a patented onshore wave energy conversion platform that attaches modular floating devices to existing coastal structures such as breakwaters, jetties, and piers. The floaters rise and fall with wave motion, compressing hydraulic pistons that drive generators on land to produce electricity, with the system featuring automatic storm protection that raises floaters above water during severe conditions. The technology stack incorporates AI-driven optimization, NVIDIA Omniverse digital twins for deployment simulation, a WaveGPT operational intelligence platform under development with Florida Atlantic University and University of Michigan, and a drone-powered autonomous maintenance system via a BladeRanger partnership.
The company monetizes through three revenue streams: electricity sales via Power Purchase Agreements (with the Israeli National Electric Company purchasing all output from the Jaffa Port project under a Feed-In Tariff framework), turnkey equipment sales to regional partners (e.g., the 100 KW unit sold to I-Ke International Ocean Energy for Taiwan), and project development plus O&M services executed under BOO, BOT, BOOT, BLT, and BLOT structures. Customer segments span utilities and energy companies, port and maritime infrastructure operators, government energy ministries, and a new targeting of coastal data center and AI infrastructure. Eco Wave Power holds 18 patents and patents pending and operates or is developing projects in Israel, the United States, Portugal, Taiwan, India, South Africa, and Gibraltar, with a combined pipeline of 404.7 MW. FY2025 revenue was $38,000 against a net loss of $3.72 million, with $6.3 million in cash at year-end before a $4.0 million Nasdaq direct offering in June 2026.
Eco Wave Power firmographics
Firmographics- Name
- Eco Wave Power
- Legal name
- Eco Wave Power Global AB (publ)
- Website
- https://ecowavepower.com
- Company type
- Public
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Eco Wave Power develops patented onshore wave energy conversion systems that attach floaters to existing coastal structures to generate clean electricity, serving utilities, port authorities, and increasingly coastal AI data center infrastructure across six countries.
- Ownership category
- akta.pro rank
Eco Wave Power industry classification
Industry- Product category
- Wave Energy / Marine Renewable Energy
- NAICS
- Electric Power Generation (22111), Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Motors & Generators (3621), Engines & Turbines (3510), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Wave Energy Converter (WEC) Power Generation (EUACAJAC)
- akta.pro secondary industries
- Marine & Hydrokinetic R&D (Tidal, Wave, River Current, OTEC) (EUAMAOAD), Hydropower Turbines, Generators & Balance-of-Plant Equipment Manufacturing (EUAMAHAF)
Keywords
Where Eco Wave Power is headquartered
LocationHeadquarters
- HQ city
- Tel Aviv
- HQ country
- Israel
- HQ region
- Middle East
Offices3 records
Markets served
Eco Wave Power business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- Electricity Sales (Power Purchase Agreements): Eco Wave Power sells generated electricity to utility companies through Power Purchase Agreements (PPAs). In Israel, the Israeli National Electric Company purchases all clean energy produced. The company operates under a Feed-In Tariff (FIT) framework for grid-connected projects.
- Turnkey Equipment Sales: The company sells wave energy conversion units including hydraulic and electric conversion parts, smart control and automation systems. Example: 100KW unit sold to I-Ke International Ocean Energy for Taiwan project.
- Project Development and O&M Services: EWP provides A to Z services including feasibility studies, construction, installation, operation, and maintenance services for wave energy projects globally.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
Eco Wave Power product offering
Product offeringCore offering
Eco Wave Power develops and licenses a patented onshore wave energy conversion platform in which modular floaters mounted on existing coastal structures (breakwaters, jetties, piers) convert ocean wave motion into hydraulic pressure that drives land-based generators to produce electricity fed into the grid. The company sells turnkey wave energy conversion units, licenses its technology to regional partners, executes full Build-Own-Operate / Build-Operate-Transfer project structures under port concessions, and sells generated electricity to utilities under Power Purchase Agreements — with a combined project pipeline of 404.7 MW across Israel, the United States, Portugal, Taiwan, India, and South Africa.
Product overview
Eco Wave Power is a wave energy technology company offering an integrated platform for converting ocean waves into scalable renewable electricity. The core EWP Wave Energy Technology Platform utilizes patented onshore wave energy converters with modular floating devices attached to existing coastal infrastructure. The platform includes specialized modules such as WaveGPT (AI operational intelligence), NVIDIA-powered digital twins for simulation and optimization, and drone-powered maintenance systems. The company operates projects across multiple markets: the EWP-EDF One reference project in Israel (100 kW), the Port of Los Angeles pilot in the US, and is developing its first commercial-scale project in Portugal (1 MW under a 20 MW concession), along with projects in Taiwan, India, and South Africa representing a combined pipeline of 404.7 MW. The company holds 18 patents covering system design, control systems, power conversion, and wave farm architecture.
Differentiator
Problem solved
Functional benefit
Products and services
- EWP Wave Energy Technology Platform A patented onshore wave energy conversion platform in which modular floaters mounted on existing coastal structures (breakwaters, jetties, piers) rise and fall with ocean waves, compressing hydraulic pistons that drive land-based accumulators and generators to feed electricity into the grid. Sold to utilities, port authorities, and energy ministries under BOO/BOT/BOOT/BLT/BLOT structures, via turnkey equipment sales, and through licensing to regional partners.
- EWP-EDF One Project (Israel) Israel's first grid-connected wave energy power station: a 100 kW onshore installation at Jaffa Port comprising 10 floaters, selling all clean electricity produced to the Israeli National Electric Company under a Feed-In Tariff. Built as a joint venture with EDF Renewables IL and the Israeli Ministry of Energy, and recognized as 'Pioneering Technology' by the Israeli Ministry of Energy.
- Port of Los Angeles Pilot Project First-ever onshore wave energy installation in the United States, deploying seven steel floaters capable of generating up to 100 kilowatts at AltaSea at the Port of Los Angeles. Two-year educational and demonstration pilot co-funded by Shell Marine Renewable Energy and recognized by TIME as one of the Best Inventions of 2025.
- Gibraltar Project Proof-of-concept grid-connected wave energy array operated in Gibraltar from 2016 to 2022 under a 5 MW Power Purchase Agreement with the Government of Gibraltar and GibElectric, providing approximately six years of operational data used to validate the technology for commercial deployment.
- Drone-Powered Maintenance Service Autonomous drone-powered cleaning and inspection service for wave energy floaters, developed with BladeRanger Ltd., designed to lower operating expenses, reduce downtime, and increase energy output of operational wave energy stations.
Quantifiable outcome
- Achieved peak production of 56.7 kW during 3-meter wave conditions at Jaffa Port
- +4 more outcomes
Companies that use Eco Wave Power
Customer profileNamed customers8 records
Segments5 records
Ideal customer profiles4 records
Eco Wave Power technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability7 records
Feature6 records
Eco Wave Power partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered minor and core.
- Florida Atlantic UniversityminorAdvancing discussions for AI-powered wave energy applications including WaveGPT operational intelligence platform development. Submitted TEAMER application focused on data-driven energy flow mapping and predictive analytics.
- University of MichiganminorPartner in discussions for AI-powered wave energy applications and wave-powered coastal data center concept. Collaboration focused on digital twins, advanced cooling technologies, and intelligent workload management.
- NVIDIAcoreEco Wave Power U.S. joined NVIDIA Inception Program, a global accelerator for AI and data science startups. Partnership aims to advance AI-driven applications including real-time optimization, predictive maintenance, digital twin modeling, and intelligent energy management. Eco Wave Power's technology featured multiple times in NVIDIA CEO Jensen Huang's GTC keynote presentations.
- Atlantic Wave Energy Sustainable Deployment Initiative (AWESDI)minor€2.45M transnational project under Atlantic Area Programme involving research institutions, private sector, and government organizations from Portugal, Spain, France, and Ireland. Eco Wave Power supporting feasibility studies and deployment planning.
- I-Ke International Ocean Energy Co.coreTaiwanese partner, subsidiary of Lian Tat Company, that signed land lease for Suao Port wave energy project. Purchased turnkey 100KW wave energy conversion unit and secured land use rights for project development.
- Shell Marine Renewable EnergycoreProvided 50% co-funding for Port of Los Angeles pilot project. Collaboration to demonstrate onshore wave energy technology under real marine conditions. Project completed in March 2026.
- Africa Great Future Development Ltd (AGFDL)minorPartner for feasibility study and potential wave energy project at Port of Ngqura, South Africa. Conducting assessment for approximately 8.3MW installed capacity along the port's breakwater infrastructure.
- ToshibaminorMember of consortium with Eco Wave Power, Hitachi Energy, and UK universities securing £1.5M Innovate UK Energy Catalyst grant for wave energy microgrid development on remote Thai island.
- Hitachi EnergyminorMember of consortium for wave energy microgrid project in Thailand, developing advanced control, forecasting, and energy management technologies.
- EDF Renewables ILcoreJoint venture partner for the EWP-EDF One wave energy project at Jaffa Port, Israel. EDF Renewables IL, a subsidiary of Électricité de France S.A., co-developed the 100KW station and provided co-funding.
- AltaSea at Port of Los AngelescoreHost and collaborator for the Port of Los Angeles wave energy pilot project. Provided facility for demonstration and testing of wave energy technology.
- APDL (Administração dos Portos do Douro, Leixões e Viana do Castelo)corePort authority in Portugal providing 25-30 year concession for wave energy power station development. Concession agreement signed in 2020 for up to 20MW across four locations owned by APDL.
- Hydropower FoundationminorWorkforce development collaboration. Eco Wave Power highlighted as example of retention strategies in hydropower/renewable energy sector.
- Bharat PetroleumminorPartner for wave energy project development in India as part of Eco Wave Power's global expansion pipeline.
Scale indicators9 records
Recent moves7 records
Expansion highlights7 records
Eco Wave Power competitors and assessment
Company assessmentDirect peers
- Ocean Power Technologies: U.S.-listed (NYSE American: OPTT) wave energy company developing both wave energy conversion devices and autonomous surface vehicles. Directly competes with Eco Wave Power in the wave energy category and is the closest publicly traded pure-play comparable.
- CorPower Ocean: Sweden-based wave energy developer using a point-absorber WEC with a phase-control technology. Competes in the same wave energy category as Eco Wave Power, though focused on offshore rather than onshore deployment.
- Carnegie Clean Energy: Australia-based wave energy company (ASX: CCE) developing the CETO wave energy converter. Directly comparable as a publicly listed wave energy pure-play pursuing commercial deployment.
- AW-Energy: Finnish wave energy developer of the WaveRoller device, a bottom-mounted oscillating wave surge converter. Directly competes in the wave energy category and shares the focus on nearshore/coastal infrastructure integration.
Emerging players
- Wello Oy: Finnish developer of the Penguin wave energy converter, a rotating mass device designed for offshore/subsea installation. Comparable as a wave energy technology developer but with a different device architecture and deployment model than Eco Wave Power.
- Wave Swell Energy: New Zealand/Australia-based developer of a uni-directional wave energy converter for nearshore applications. Comparable as a smaller, pre-commercial wave energy peer in the early stages of commercialization.
- Mocean Energy: UK-based wave energy developer of the Blue Star WEC for subsea oil & gas and offshore renewables applications. Comparable as an emerging player in the wave energy category pursuing commercial pilots and partnership with major energy companies.
Broad incumbents
- Siemens Energy: Global energy technology major (wind, gas, grid, hydrogen) following the Siemens Gamesa merger. Comparable as a broad incumbent in renewable power generation that could enter or acquire into wave energy, and as a reference for project development scale and grid integration capabilities.
- Vestas Wind Systems: Global leader in wind turbine manufacturing with deep experience in renewable energy project development. Comparable as a broad incumbent establishing reference economics for renewable power generation at scale, against which wave energy LCOE is benchmarked.
- GE Vernova: Spun-off GE energy business covering power generation, wind, grid, and electrification software. Comparable as a broad incumbent with project development, grid integration, and digital twin capabilities relevant to wave energy commercialization.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Eco Wave Power social profiles
Digital presenceEco Wave Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
Eco Wave Power leadership team
Management profileNumber of profiles
Profiles7 records
Eco Wave Power subsidiaries and ownership
Company hierarchySubsidiaries1 record
Eco Wave Power funding detail
Funding detailFunding overview
Funding rounds11 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Eco Wave Power M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Eco Wave Power
What does Eco Wave Power do?
Eco Wave Power develops and licenses a patented onshore wave energy conversion platform in which modular floaters mounted on existing coastal structures (breakwaters, jetties, piers) convert ocean wave motion into hydraulic pressure that drives land-based generators to produce electricity fed into the grid. The company sells turnkey wave energy conversion units, licenses its technology to regional partners, executes full Build-Own-Operate / Build-Operate-Transfer project structures under port concessions, and sells generated electricity to utilities under Power Purchase Agreements — with a combined project pipeline of 404.7 MW across Israel, the United States, Portugal, Taiwan, India, and South Africa.
Is Eco Wave Power a public or private company?
Eco Wave Power is a public company. It is classified as public and is currently operating.
When was Eco Wave Power founded?
Eco Wave Power was founded in 2011. It employs 11 to 50 people.
Where is Eco Wave Power based?
Eco Wave Power is headquartered in Tel Aviv, Israel, in the Middle East region.
How does Eco Wave Power make money?
Three revenue lines are on record. Electricity Sales (Power Purchase Agreements) is the primary driver. The others are turnkey Equipment Sales and project Development and O&M Services.
Who are Eco Wave Power's main competitors?
Direct peers on record are Ocean Power Technologies, CorPower Ocean, Carnegie Clean Energy and AW-Energy. Emerging players are Wello Oy, Wave Swell Energy and Mocean Energy. Broad incumbents are Siemens Energy, Vestas Wind Systems and GE Vernova.
Does Eco Wave Power have an API?
No public API is recorded for Eco Wave Power.
What industry is Eco Wave Power in?
Eco Wave Power's product category is Wave Energy / Marine Renewable Energy. Its primary akta.pro industry code is EUACAJAC, Wave Energy Converter (WEC) Power Generation, with a secondary code of EUAMAOAD, Marine & Hydrokinetic R&D (Tidal, Wave, River Current, OTEC). Its NAICS code is 22111 and its SIC code is 3621.