LOS ANGELES, April 1, 2026 /PRNewswire/ -- Eco Wave Power Global AB (NASDAQ: WAVE) ("Eco Wave Power" or the "Company"), a leading onshore wave energy technology company, today announced the successful completion of its wave energy pilot program at the Port of Los Angeles, conducted in collaboration with Shell International Exploration and Production Inc. ("Shell").

The Company has submitted the final project completion report to Shell, confirming that all milestones under the 2024 Pilot Test Agreement have been successfully achieved.

Key Highlights:

• Full pilot lifecycle completed — from feasibility to real-world operation
• System successfully operated under real marine conditions
• Total pilot CapEx below $1 million
• Fully permitted project with no significant environmental impact
• Demonstrated deployment on existing coastal infrastructure (no seabed anchoring or offshore construction required)

Validation of a Scalable, Low-Cost Energy Solution

The successful execution of the pilot marks a significant step toward the commercialization of Eco Wave Power's onshore wave energy technology, which is designed to deliver cost-efficient, reliable renewable energy from existing coastal infrastructure.

The project also validates a key industry advantage: the ability to deploy wave energy systems without the complexity and cost associated with offshore installations.

Positioning Within the AI Energy Revolution

Eco Wave Power's technology was recently featured in a digital twin demonstration during the keynote presentation of NVIDIA CEO Jensen Huang at the NVIDIA GTC conference, highlighting the growing intersection between renewable energy infrastructure and artificial intelligence.

As global electricity demand accelerates—driven in part by AI, data centers, and digital infrastructure—Eco Wave Power's nearshore energy generation model offers a strategic solution for powering coastal "AI factories" and energy-intensive infrastructure.

Strategic Collaboration with Shell

The collaboration between Eco Wave Power and Shell began with a large-scale feasibility study identifying 77 potential U.S. coastal sites suitable for wave energy deployment.

This pilot project represents the successful transition from feasibility analysis to real-world implementation, reinforcing Eco Wave Power's ability to execute projects with leading global energy companies.

CEO Commentary

Inna Braverman, Founder and CEO of Eco Wave Power, said:

"Successfully completing this project with Shell is a strong validation of our technology, execution capabilities, and commercial potential.

As energy demand continues to grow—particularly with the rise of artificial intelligence—we believe wave energy can play a key role in delivering clean, predictable power directly where it is needed most: nearshore, close to population centers and industrial infrastructure."

Foundation for Commercial Scale

The Port of Los Angeles installation now serves as a reference project for future commercial deployments.

Eco Wave Power believes this milestone establishes:

• A technical proof of concept
• A regulatory pathway
• A commercial foundation for scaling wave energy globally

The site will continue operating as a demonstration and educational facility for policymakers, industry stakeholders, and potential partners.

About Eco Wave Power Global AB (publ)

Eco Wave Power Global (NASDAQ: WAVE) is a leading onshore wave energy company that converts ocean and sea waves into clean, reliable, and cost-efficient electricity using its patented and intelligent technology. By generating renewable power directly from existing coastal infrastructure such as breakwaters, jetties, and piers, Eco Wave Power enables sustainable electricity production in close proximity to coastal cities, ports, and energy-intensive infrastructure.

As global electricity demand continues to rise with the growth of artificial intelligence, digital infrastructure, and next-generation data centers – often referred to as "AI factories" – Eco Wave Power's technology is designed to help provide renewable energy near shorelines where many data centers, industrial facilities, and population centers are located.

With a mission to accelerate the global transition to renewable energy while supporting the next generation of digital and industrial infrastructure, Eco Wave Power developed and operates Israel's first grid-connected wave energy power station, recognized as a "Pioneering Technology" by the Israeli Ministry of Energy and co-funded by EDF Power Solutions. In the United States, the Company recently launched the first-ever onshore wave energy pilot station at the Port of Los Angeles, in collaboration with Shell Marine Renewable Energy.

Eco Wave Power is expanding globally with projects planned in Portugal, Taiwan, and India, representing a project pipeline of 404.7 MW. The Company has received international recognition and support from organizations including the European Union Regional Development Fund, Innovate UK, and the EU Horizon 2020 program, and was honored with the United Nations Global Climate Action Award.

Eco Wave Power's American Depositary Shares (ADSs) are traded on the Nasdaq Capital Market under the ticker symbol "WAVE."

For more information, please visit:
www.ecowavepower.com

Press inquiries:
[email protected]

Note: Information available on or through the websites mentioned herein does not form part of this press release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other Federal securities laws. For example, the Company is using forward-looking statements in this press release when it discusses the belief that the successful completion of the Port of Los Angeles pilot establishes a technical and regulatory foundation for future commercial-scale wave energy deployments on breakwaters, port structures and other coastal infrastructure worldwide. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will", or variations of such words, and similar references to future periods. These forward-looking statements and their implications 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 circumstances that are difficult to predict and may be outside of Eco Wave Power's control that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading "Risk Factors" in Eco Wave Power's Annual Report on Form 20-F for the fiscal year ended December 31, 2025 filed with the SEC on March 12, 2026, which is available on the on the SEC's website, www.sec.gov, and other documents filed or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. References and links to websites have been provided as a convenience and the information contained on such websites is not incorporated by reference into this press release.

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SOURCE Eco Wave Power Global AB (publ)