In 2020, Eco Wave Power entered into a Concession Agreement with the Port of Leixões, or APDL (Administração dos Portos do Douro, Leixões e Viana do Castelo), to use an area potentially suitable for the construction, operation, and maintenance of a wave energy power station of up to 20 MW in four locations owned and operated by APDL. Pursuant to the Concession Agreement, APDL will provide EWP with a concession for its breakwaters for a period ranging from 25 to 30 years.

The power station is planned to be constructed and commissioned in several stages, starting with a 1 MW station and, subject to certain conditions, to be followed by the construction, operation, and maintenance of the remaining 19 MW capacity of the station.

In March 2024, Eco Wave Power received the last approval necessary for the commencement of the works of the first megawatt in the city of Porto with the Título de Utilização de Recursos Hídricos, or TURH, from APDL. The Company has also issued a performance bond to APDL, meant to solidify the commitment to the construction of the first commercial wave energy project within a 2-year period.

We believe this will be the first commercial-scale wave energy project in the world and therefore, a significant step towards wave energy commercialization.

Fact Sheet – Port of Los Angeles Pilot

Project Overview
• Location: AltaSea at the Port of Los Angeles
• Purpose: Educational and demonstrational pilot project showcasing wave energy technology
• Significance: First-ever onshore wave energy installation in the U.S., providing live demonstrations and real-time observation
• Planned Duration: launched on September 9th, 2025, for a period of 2 years, collecting operational and environmental data while demonstrating technology

Partners & Support
• AltaSea at the Port of LA: Host and collaborator
• Shell MRE: Provided 50% co-funding for this demonstration and educational project
• Government Support: Aligned with SB605 and the Barragán Marine Energy Bill ($1B for marine energy demonstration projects)

Project Goals
1. Demonstrate versatility of the technology:
• Connect to different structures: previously vertical walls with anchors; at this site, testing clamping to piles.
2. Prove safe installation practices:
• Show that the system can connect to existing structures without compromising their structural integrity.
3. Conduct environmental surveys:
• Demonstrate that the pilot causes no harm to the marine environment.
4. Educational and awareness initiatives:
• Hold tours for students, media, investors, government representatives and other stakeholders to explain the concept and inspire renewable energy interest.
5. Regulatory development:
• Learn how to collaborate with ports and the U.S. Army Corps of Engineers to pave the way for future installations.
6. R&D for system improvement:
• Test new marine paints and materials, explore cost-reduction strategies, and refine components for commercial scalability.

Note: Due to low wave heights in front of AltaSea’s Blue Hub, this site is primarily for demonstrations and testing and is not grid connected. Wave data collection and Electrical data collection is not planned here; energy production and wave verification are performed at Eco Wave Power’s grid-connected pilot in Israel and will also be conducted at the company’s first 1MW site in Portugal.

How the Technology Works
• Floaters rise and fall with wave movement, creating hydraulic pressure that drives a land-based generator.
• Produces clean electricity during natural wave activity.
• Advantages: cost-efficient, scalable, environmentally responsible.

Project Status & Operations
• Pilot Size: Small-scale, educational demonstration
• Grid Connection: Not connected to the grid
• External Generator:
→ Powers tools, welding, lighting, and lifts floaters during demonstrations
• When wave activity is low and requested by visitors, pressure is generated via pump for illustration and educational purposes. In simulation mode, Visitors are always informed when the system is in simulation mode.
• Future Plans for Simulated Demonstrations during low wave regime:
→  Seeking Port authorization for local grid access when grid power is needed
→  If grid access is not feasible, considering solar panels and/or energy storage, to substitute the need of a generator.

Transparency & Public Engagement
• Open for educational tours, stakeholder demonstrations, and media visits
• Visitors are informed whether they see live wave power or a simulation
• Supports innovation, education, and renewable energy awareness

This project involves the installation and operation of a 100-kW installed capacity station at the Jaffa Port in Israel through a Joint Venture Agreement with EDF Renewables IL, a subsidiary of the French multinational electric utility company Électricité de France S.A. Eco Wave Power also received co-funding from the Israeli Ministry of Energy, which recognized the technology as a “pioneering technology.” Pioneering technology recognition is a designation granted by the Chief Scientist of the Israeli Ministry of Energy.

In August 2022, the Israeli Electric Authority set an official Feed-In Tariff, or FIT, for the newly installed wave energy pilot project at the Jaffa Port. With the FIT in place, the Israeli Electric Authority commenced operations to officially connect the EWP-EDF One project to Israel’s energy grid.

As of August 15th, 2023, the station was officially connected to Israel’s national electrical grid – making it the first wave energy project to deliver electricity to the country’s power supply.  The successful performative improvements gained to date are to be deployed in our first commercial-scale project in Portugal.

On December 9, 2024, the Project was officially “switched-on” by Israel’s Minister of Energy and Infrastructure, Eli Cohen, the Minister of Environmental Protection, Idit Silman, and the Mayor of Tel Aviv-Jaffa, Ron Huldai, and is now exporting electricity into Israel’s power grid. The Israeli National Electric Company (“IEC”) is the purchaser of all the clean energy produced by this innovative project.

Between 2016 and March 2022, Eco Wave Power operated a grid-connected proof-of-concept wave energy array in Gibraltar, as part of a 5 MW Power Purchase Agreement that EWP signed with the Government of Gibraltar and Gibraltar’s National Electric Company, GibElectric. Eco Wave Power accumulated almost six years of operational experience.

According to the agreement between Eco Wave Power and the Government of Gibraltar, the array was built and originally supposed to operate for only two years, to prove that wave energy can safely connect to the grid and withstand the Gibraltar storms, using its storm-protection mechanism. However, the company decided to keep the station operational for a longer time, as it was used as a real-conditions research and development facility for the company.

Eco Wave Power reached OPEX of 3.2% of the CAPEX and 73% of the forecasted electricity for the site in the last year of operation. Maintenance knowledge was gained from a maintenance program that was developed and validated. The findings from the installation of the Gibraltar project and upgrades program were used to design the Jaffa station in Israel. This includes an advanced automation system multiplicator, a simplified conversion unit, more sensors, and data collection.