Eco Wave Power Global AB (publ) Business Summary

Eco Wave Power Global AB (publ) (WAVE) operates a multi-faceted revenue model centered on the commercialization of its patented onshore wave energy conversion (WEC) technology. The company generates income through three primary channels: the sale of clean electricity to national grids and private off-takers via Power Purchase Agreements (PPAs), technology licensing fees for its proprietary hardware and software, and the provision of end-to-end project services including feasibility studies, construction, and long-term operations and maintenance (O&M). Its business segments are divided into project development, where it utilizes structures like Build-Own-Operate (BOO) and Build-Operate-Transfer (BOT), and technology sales to third-party infrastructure owners. As of March 2026, the company maintains a robust 404.7 MW project pipeline with key installations in Israel, Portugal, and the Port of Los Angeles. Direct competitors include Ocean Power Technologies (OPTT), CorPower Ocean, Marine Power Systems, and Carnegie Clean Energy; however, Eco Wave Power distinguishes itself as a market leader in the "onshore" niche, utilizing existing coastal infrastructure like piers and breakwaters to significantly reduce CAPEX and maintenance costs compared to the offshore, buoy-based systems of its peers. The company was co-founded in 2011 by Inna Braverman and David Leb, with Braverman currently serving as Chief Executive Officer. Braverman, a recognized leader in renewable energy and recipient of the United Nations Global Climate Action Award, has steered the company through its Nasdaq listing and global expansion. The executive team is further strengthened by Chief Financial Officer Aharon Yehuda, who brings over 20 years of financial leadership from the aviation and audit sectors, and Vice President of Engineering Ran Atias, an expert in high-complexity robotics and automotive scaling who joined in late 2024 to accelerate project delivery. The Board of Directors is chaired by Mats Andersson and includes notable risk and sustainability expert Hilary E. Ackermann, formerly of Goldman Sachs and Vistra Energy. Eco Wave Power’s strategic growth is supported by high-profile partnerships and investments from EDF Renewables IL and Shell Marine Renewable Energy, alongside institutional backing from firms such as IPG Investment Advisors and Commonwealth Equity Services.