Eco Wave Power Global AB (NASDAQ:WAVE) saw its stock rise by 3% after the company announced it has finished manufacturing all floaters for its inaugural wave energy project in the U.S., located at the Port of Los Angeles.
This milestone is a key step forward as Eco Wave Power gears up to launch the nation’s first onshore wave energy pilot station. The floaters—specially designed wave energy converters—were produced by All-Ways Metal, a California-based firm and Eco Wave Power’s designated manufacturing partner for the project.
Inna Braverman, Founder and CEO of Eco Wave Power, commented, “This is a proud moment for our team and for the future of wave energy in the United States. The completion of all floaters signals that this long-anticipated project is no longer theoretical—it’s ready for real-world application.”
These floaters will be installed on an existing jetty at the Port of Los Angeles, where the system’s patented onshore conversion technology will transform wave energy into clean electricity. Deployment is scheduled to start later this month, with the pilot’s official inauguration expected by summer’s end.
Supported by Shell’s Marine Renewable Program, this pilot marks Eco Wave Power’s entry into the U.S. renewable energy arena, reinforcing the company’s dedication to local manufacturing and job creation.
Earlier this year, Eco Wave Power representatives and Port of Los Angeles officials conducted a joint site visit to finalize installation plans for the wave energy system.
Eco Wave Power Global stock price
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.