Power Waves for Portugal

The Porto project, Eco Wave Power’s first MW-scale wave energy venture in Portugal which is expected to be finalized during 2026, aims to harness ocean wave energy to generate sustainable electricity. Central to this initiative is the transformation of “The Gallery,” an existing breakwater tunnel, into a state-of-the-art facility housing the Company’s innovative wave energy conversion equipment. Upon completion, “The Gallery” will also feature an underwater wave energy museum and education centre, offering visitors an immersive experience into the world of renewable energy.

To prepare “The Gallery” for equipment installation and public engagement, Eco Wave Power is undertaking the following key activities:

• Sand and Debris Removal: Clearing accumulated materials to ensure a clean and safe environment for both equipment and visitors.
• Structural Reinforcements: Replacing doors and windows to enhance the integrity and security of the facility.
• Waterproofing Measures: Sealing points of water ingress to maintain optimal operational conditions.

Following the completion of the infrastructure enhancements, Eco Wave Power will advance to the next phase of the project, which includes the production and deployment of its proprietary wave energy technology. The project aims to support Portugal’s renewable energy strategy, which targets 85% renewable electricity generation by 2030, while also serving as a model for global expansion.

To support the execution of the Portugal project, Eco Wave Power recently appointed Juan José Gómez as Power Station Manager. With extensive experience in renewable energy operations, Mr. Gómez will oversee the day-to-day implementation and ensure alignment with the project’s technical and operational goals. In parallel, Eco Wave Power has engaged MOQ Engineering, a renowned Portuguese engineering firm, to perform the final design and load calculations for the project. MOQ brings extensive expertise in structural and civil engineering solutions, employing advanced technologies such as Building Information Modelling (BIM) and parametric design to ensure the highest safety and efficiency standards. Their involvement strengthens the project’s foundation and aligns with Eco Wave Power’s commitment to delivering a cutting-edge and sustainable wave energy solution.

“This milestone underscores our commitment to delivering a robust and scalable wave energy solution in Portugal,” said Inna Braverman, CEO of Eco Wave Power. “By addressing critical infrastructure requirements and working with top-tier engineering experts, like MOQ, we are looking forward to a smooth installation process and setting the foundation for successful energy generation from ocean waves.”

About Eco Wave Power Global AB (publ)

Eco Wave Power is a leading onshore wave energy company revolutionizing clean energy with its patented, smart, and cost-efficient technology that converts ocean and sea waves into sustainable electricity.

Dedicated to combating climate change, Eco Wave Power operates the first grid-connected wave energy system in Israel, co-funded by EDF Renewables IL and the Israeli Energy Ministry, which recognized the technology as a “Pioneering Technology.”

Expanding globally, Eco Wave Power is preparing to install projects at the Port of Los Angeles, Taiwan, and Portugal, adding to its impressive project pipeline totaling over 404.7 MW.

The Company has received support from prestigious institutions such as the European Union Regional Development Fund, Innovate UK, and the Horizon 2020 program, and was honored with the United Nations’ Global Climate Action Award.

Eco Wave Power’s American Depositary Shares (WAVE) are traded on the Nasdaq Capital Market.