Porto, Portugal -May 28, 2025 -Eco Wave Power Global (Publa) (Nasdaq: Wave), a leading company for Onshore Wave Energy Technology, is pleased to announce an important milestone for the development of its first 1 -MW wave energy in the city of Portugal.
Eco Wave Power has the first rate – corresponds to 50% of the network connection fee – successful for the planned 1 MW station and marks considerable progress in the implementation of the project.
This payment was made to E-Redes, the Portuguese power distribution system operator, which is responsible for the administration and operation of the national sales network and guarantees safe and efficient access for manufacturers and consumers equally.
In addition to the payment, Eco Wave Power officially announced the acceptance of the connection conditions for the public network in relation to the UPP/5089 power plant as part of the application reference PL 9000079210. This assumption refers to the connection conditions to the public power grid (resp), as announced by E-Redten in a formal letter dated November 27, 2024.
With this communication, the ECO Wave Power expressly agrees to all conditions and technical specifications that have been described in the e-RED letter and the associated documentation, making it possible to continue developing and future integration of the project into the ecosystem for renewable energies in Portugal.
In addition, Eco Wave Power E-Redes has informed about a preliminary network connection date for 2026, which is planned until the final approval, construction and regulation procedure.
This important step underlines the commitment of Eco Wave Power to accelerate the use of reliable and innovative wave energy solutions in new markets, and is the same with the national goals in Portugal to increase the proportion of renewable energies in its energy mix.
The Eco Wave Power project in Portuguese depictions is a cornerstone of the company's European growth strategy and marks the first use in megawatts in the field of megawatts in the region. In the city of Porto, this 1 -MW implementation is located in the first phase of a 20 -MW concession, which was agreed at APDL (Douro Port Administration, Leixões and Viana do Castelo, Sat).
The project's trajectory accelerated in March 2024 when Eco Wave Power received the final approval (Turh) from APDL and eliminated the path for physical work. The company demonstrated its commitment and also emphasized a performance bond to ensure the completion of the project within a period of two years. In August 2024, CEO inna Braverman and the company's engineering team officially started the project with a visit to “The Gallery”, a unique tunnel under the wave water that houses the Wave Energy Conversion Unit. The location also becomes the first underwater wave and education center in the world of the world and will open its doors to the public in the future.
In February 2025, Eco Wave Power began to prepare important infrastructure improvements in the “Gallery” to prepare them for the installation of the devices and later public access. These upgrades included removing accumulated sand and debris, the reinforcement of structural elements by replacing doors and windows as well as the implementation of waterproof measures to ensure ideal operating conditions.
In order to support the efficient execution, Eco Wave Power Juan José Gómez appointed the power plant manager and ensured a wealth of experiences in the field of renewable energies. The company also committed MOQ engineering, a leading Portuguese engineering office, to carry out final design and load calculations using extended tools such as the modeling of building information (BIM) and the parametric design. This cooperation increases the commitment of ECO WAVE POWER to provide safe, effective and most modern energy solution.
The legal guidelines are provided by PLMJ, one of the leading law firms in Portugal, and Joana Brandão advises Eco Wave Power since 2020. These local partners guarantee a resistant project ecosystem for the project.
“Portugal is not just a leading worldwide provider of renewable energies – it is now a leader in the commercialization of wave energy,” said Inna Braverman, founder and CEO of Eco Wave Power. “By securing the grid connection for our first 1 -MW station, we will convert the view into reality. This is more than an infrastructure milestone -it is a signal that wavy energy changes from concept to contribution. Together with our incredible partners in Portugal, we build a new era of clean, predictable power that has been collected directly from the ocean.”
Portugal, which is strategically on the Atlantic coast, offers a certain high wave energy potential in Europe, paired with a future -oriented regulatory framework that actively supports renewable innovations for the marine renewable innovations. The country has undertaken to procure 85% of its electricity from renewable energies by 2030 -compared to 61% in 2023 -and it is a natural partner for the patented Onshore -Wave -Energy technology of ECO Wave Power.
Via Eco Wave Power Global (publ)
Eco Wave Power is a leading onshore wave energy company that revolutionizes clean energy with patented, intelligent and inexpensive technology that converts ocean and sea waves into sustainable electricity.
Eco Wave Power undertakes to combat climate change and operates the world's first grid -connected wave energy system in Israel, which was co -financed by the Edf Renewables IL and the Israeli Energy Ministry, which recognized the technology as “pioneering technology”.
The company is growing worldwide with projects that are planned in Los Angeles, Taiwan, India and Portugal, and contributes a robust pipeline of 404.7 MW. Eco Wave Power was supported by renowned organizations such as the Regional Development Fund, the Innovate UK and the Horizon 2020 and was also honored with the Global Climate Action Award of the United Nations.
Eco Wave Power (Wave )'s American custody accounts are traded on the Nasdaq capital market. Find out more at www.ecowavepower.com.
Information about the above websites are not part of this press release.
For more information, please contact: info@ecowavepower.com
Predicted statements
This press release contains future-oriented statements in the sense of the provisions of the “Safe Harbor” of the US law for private security disputes from 1995 and other federal securities laws. For example, the company uses future-oriented statements in this press release when it is discussed: the expectation of the planned integration of the 1 MW station into the Portugal system for renewable energies; And the expected grid date for 2026. These future-oriented statements and their effects are neither historical facts nor assurances of future performance and are based on the current expectations of the management of eco-wave power and are subject to a number of factors, uncertainties and changes in the circumstances that are difficult to predict, and the existing wave payments that are from the Distinguish forward power performance. Therefore, you should not rely on these future -oriented statements. Unless prescribed by law, Eco Wave Power does not take on an obligation to publicly publish changes of these future -oriented statements in order to reflect events or circumstances according to the date or to reflect the occurrence of unexpected events. Detailed information about the risks and uncertainties that influence ECO wave performance are included in the “risk factors” in the annual report of ECO WAVE Power in the form 20-F for the financial year that ended on December 31, 2024, which was submitted on March 3, 2025. Every future -oriented explanation given in this press release only speaks here for the date. References and links to websites were provided as comfort, and the information contained on such websites is not included by reference to this press release.