Eco Wave Power Global AB: Q2 Earnings Show Strategic Growth and Expansion in Wave Energy

Eco Wave Power Global AB reported Q2 earnings with operational and strategic advancements across multiple continents, including the completion of a U.S. installation and progress on a megawatt-scale project in Portugal. The company secured a European Union grant and expanded into new markets such as India and South Africa. Key financial metrics showed an 18% increase in operating expenses, but a robust financial position with $7.94 million in cash and short-term deposits. Eco Wave Power's management remains optimistic about the future, focusing on expanding wave energy commercialization globally.

Eco Wave Power Global AB (publ) (NASDAQ: WAVE) has reported its Q2 2025 earnings, highlighting significant operational and strategic advancements across multiple continents. The company completed the installation of its first U.S. wave energy project at the Port of Los Angeles and made progress on a megawatt-scale project in Portugal. Additionally, Eco Wave Power secured a European Union grant and expanded into new markets such as India and South Africa.

Financial results showed an 18% increase in operating expenses, totaling $1.59 million, up from $1.36 million in the same period last year. The net loss for the period was $1.89 million, compared to a net loss of $1.60 million in Q2 2024. Despite the increase in operating expenses, the company maintained a robust financial position, ending the period with $7.94 million in cash and short-term deposits.

Eco Wave Power's management remains optimistic about the future, focusing on expanding wave energy commercialization globally. The company completed the installation of all main components for its first U.S. wave energy project at the Port of Los Angeles, with an official launch scheduled for September 9, 2025. In Portugal, the company is advancing preparations for its first megawatt-scale wave energy plant under a 20MW concession. Progress includes the completion of civil engineering designs, submission of the execution plan, and payment of 50% of the grid connection fee to E-REDES. The 1MW plant is planned for grid connection in 2026.

Eco Wave Power has also expanded into new markets, signing a memorandum of understanding with India’s Bharat Petroleum Corporation Limited to explore wave energy deployment at the Mumbai Oil Terminal, and entering Taiwan through an agreement with I-Ke International Ocean Energy Co. In July, the company signed an agreement with Africa Great Future Development Ltd to conduct a feasibility study for a wave energy project at South Africa’s Port of Ngqura.

The company's strategic partnerships and market expansion efforts are supported by a strong financial foundation. Eco Wave Power has secured important European grant funding and joined the €2.45 million EU-funded Atlantic Wave Energy Initiative. The company's focus on innovation, ESG leadership, and local economic engagement is evident in its partnerships and projects.

Eco Wave Power's management commentary emphasizes the company's dual focus: delivering proven wave energy technology into commercial operation while strategically scaling its presence in key global markets. The company's strong financial position, with $7.94 million in cash and short-term deposits, supports ongoing growth and execution.

References:
1. [https://www.tradingview.com/news/reuters.com,2025:newsml_L8N3U40WC:0-eco-wave-power-global-ab-publ-expected-to-post-a-loss-of-13-cents-a-share-earnings-preview/](https://www.tradingview.com/news/reuters.com,2025:newsml_L8N3U40WC:0-eco-wave-power-global-ab-publ-expected-to-post-a-loss-of-13-cents-a-share-earnings-preview/)
2. [https://www.investing.com/news/company-news/eco-wave-power-completes-installation-of-us-project-ahead-of-launch-93CH-4191692](https://www.investing.com/news/company-news/eco-wave-power-completes-installation-of-us-project-ahead-of-launch-93CH-4191692)
3. [https://www.stocktitan.net/news/WAVE/eco-wave-power-reports-h1-2025-results-showcasing-breakthroughs-in-u-g7ufx9mcuzg0.html](https://www.stocktitan.net/news/WAVE/eco-wave-power-reports-h1-2025-results-showcasing-breakthroughs-in-u-g7ufx9mcuzg0.html)