Okay, ladies and gentlemen, we are back. I am very excited. Heard a lot of great things and a really amazing story with our next presentation. Before we get into our official introduction, I want to welcome everybody back to our live webcast. For those in attendance and listening around the world, I'm John Heffernan, and this is the 2026 Small Cap Showcase Conference coming to you live from Sparks Steak House, New York City, New York.
Great day here so far, and I think it's only going to get better as we get into our next presentation. First, I want to thank the Money Channel, Aventus, Maxim Group, The Nuvo Group, Tarter Krinsky & Drogin, title sponsors for today's event. Of course, we are being webcast live on the internet by Elementum, and we want to thank them for all of their contributions here today.
Without further ado, we want to talk a little wave energy right now. It is publicly traded on the Nasdaq, and their CEO, I believe. Can I call you CEO? Well, she's the boss, so I'll just leave it that way. Let's give it up for Inna Braverman from Eco Wave Power. Inna, come on up here. Welcome.
Thank you.
Yeah. If you want to use your slides y ou can just click that way.
Perfect.
All right.
Thank you so much. Thank you.
No, you don't need to be.
No, I'm okay. Thank you. Okay. So nice to meet you, everybody. Yeah.
Go ahead.
Hi, everybody. I'm Inna Braverman, founder and CEO of Eco Wave Power. Our company developed a unique innovative technology for generation of clean electricity from ocean and sea waves. Let's look at the wave energy industry first. Why wave energy? First of all, around 60% of the world are currently living on the coastline.
With this type of population distribution, the need for wave energy is undeniable. In addition, in suitable locations, wave energy can operate 24/7, producing energy around the clock, which is much less intermittent than solar energy that can only operate during the day, and so on. In the U.S. alone, according to the U.S. Energy Information Administration, wave energy on its own can provide 66% of all the U.S. energy needs.
With what's happening with AI and data centers, a lot of them are being built on the coastline because they use water for cooling, wave energy can provide clean electricity directly to the data centers. If wave energy is so great, why didn't wave energy commercialize so far? What you can see here, it's not our company, it's another company called Pelamis Wave Power. 99% of the developers did exactly what Pelamis did. They went into the offshore.
They put these bulky, big floaters in the middle of the ocean, and inside the floaters, they put all the expensive machinery, generators, and so on. That was very, very expensive. It needed ships and divers and underwater mooring and cables to build this. This was a power station enough for about 100 households, and it cost in excess of $150 million.
On top of everything, it broke down after three days of operation because these type of technologies are in the middle of the ocean, where the waves are extremely high, and they cannot withstand the strong wavy storms. It is also very difficult to insure because it is breaking down a lot, and it is very, very expensive.
It has a negative environmental footprint because it connects to the seabed and changes the marine environment, and it is very difficult to connect to the grid since it is in the middle of the ocean, so there is no nearby grid connection point. What we see here, this is Eco Wave Power. It is something completely different. We do not go into the offshore. We connect to existent man-made structures such as piers, breakwaters, and jetties like we see here.
The only thing in the water are the floaters, which belong in the water, and all the expensive machinery is on land, just like a regular power station. How does the technology work? Our floaters are going up and down with the movement of the waves. They are pushing the hydraulic cylinder, which transmits biodegradable fluid into land-located accumulators.
A pressure is being built. The higher the wave, the higher the pressure, which is turning the hydro motor, turning the generator, and sending clean electricity either to the grid, to the port, or to a data center. This is the installation of one of our technologies. You can see here that we do not need ships, we do not need divers, we do not need underwater mooring or cables.
We do all the installation from the land side with simple forklifts and cranes, which enables an easy programming of the work and a cost-efficient programming of the work. Here we can see the inside and the outside of our power station. The part that is in the water are only the floaters. The floaters belong in the water, and all the expensive machinery is on land in a standard shipping container. One of the sides of the container connects to the floaters.
The other side of the container connects to the grid. Very, very simple implementation, not a lot of on-site construction. The big advantage of this technology in comparison to other renewable energy sources is that we almost have no cost of land because the breakwaters are not prime real estate, so we usually get them free of charge.
Because the breakwaters are usually meant to protect the ports or the municipality on the coastline, it is very close to population density centers, so they always have a nearby grid connection point, which enables us to save a lot of money on the grid connection. The other advantages of our technology is that we are 100% environmentally friendly. We do not connect to the seabed. We only connect to existent man-made structures which already disturb the environment.
We are cost efficient. Pelamis, which is an offshore technology which I showed you before, it cost them $150 million in development cost for a small power station for 100 households. This cost us, same size of power station, around $450,000, which is a big breakthrough in terms of the price. In addition, our technology is reliable.
As you can see in the video in the bottom of the screen, when the waves are too high for the system to handle, the floaters automatically rise above the water level, and they stay in the upward position until the storm passes. When the storm passes, they go back into the water and commence operation. We are also fully insurable by global reputable insurance companies.
The company has 18 patents and patents pending in Europe, Israel, and U.S. Thirteen patents are approved, five patents are pending. Here we can see a little bit of our development pathway. Right now we are operating what is called the EWP-EDF One power station in Israel. It is the first time in the history of Israel that wave energy is officially connected to national electrical grid.
Actually you can turn on your TV or your washing machine in Jaffa Port from the power of the waves, which is very cool. This project has been done with co-investment from the Israeli government. They invested 50% of the cost of the project and recognized the technology as pioneering technology.
The other 50% were invested by EDF, Électricité de France, which is the largest renewable energy developer in Europe. We also currently operate our first project here in the U.S., in the Port of Los Angeles. We did it with investment from Shell, the oil and gas company. They invested 50%. Recently, we submitted a report to Shell and to the Port of L.A. showing that we met all the goals of this pilot project, and now we are moving to commercial scale installation.
We are working towards the licensing of an up to 60 MW, which is around 60,000 household project in the Port of L.A. It is the first time in history that a project of this scale will be built in the U.S. or anywhere else. Also, we are doing our penetration to Asia for the first time. We signed a deal with I-Ke International Ocean Energy for our first project in Suao Port on the east side of Taiwan.
Also we signed an MoU with Bharat Petroleum, which is a Fortune 500 oil and gas company in India for our first project in Mumbai Oil Terminal. We are also currently developing our biggest project to date, which is in the City of Porto in Portugal. It is a 1 MW project according to a 20 MW concession agreement.
Here we can also see a video that NVIDIA made about Eco Wave Power. We just appeared twice in a keynote of Jensen Huang during GTC in San Jose, California, also during GTC in Taipei, Taiwan very recently. NVIDIA also wrote a beautiful corporate blog about us, which is available on their website, showing how wave energy will power the AI infrastructure and data centers of the future.
As I said before, to whoever missed it, data centers are currently built a lot among the coastline because they use water for cooling, so they can basically use the water for cooling and also water for energy production. Here we can actually see our Israeli project. Zoom in. The floaters that are in the water are in work mode. The floater that we see on the top is in storm protection mechanism or maintenance.
Basically push a button, take the floater up, do whatever work you want, push a button, put the floater down. You do not need ships. You do not need any specialized equipment. Here is the inside of our power station during some tests that we were doing with EDF, our partner in the Israeli project, and Siemens. Siemens are our strategic partner for all the energy components, generator, inverter, grid connection, and so on. This is the grid connection in Israel.
As you can see here, it is a very simple short grid connection because, also as I said before, because we connect to breakwaters, piers, and seawalls, we are always located in high population density centers. As such, we always have a nearby grid connection point. The grid connection is easy, cheap, and very easy to execute.
We have a project pipeline of over 400 MW in different locations around the world, including Europe, United States, North America, South America, Oceania, and Asia, and our project pipeline keeps growing significantly. Here we can see our expected revenue model. In the short term, when we work in the proof of our technology, we started with doing pilot projects.
Most of the pilot projects, because we did not want to build them out of our balance sheet and to dilute our shareholders, we did it through joint venture, like the project in Israel with EDF, or turnkey, when we actually sell the pilot for profit, like we are doing in India and in Taiwan. But the long-term way that we want to work is BOO.
When we actually build on and operate the power station, we hold it on our balance sheet for 25 years, which is the expected lifespan of the system. The profit margin on selling the electricity versus selling the actual components is much higher. Why Eco Wave Power is in a good situation right now? Most wave energy companies right now are very early on. They are still in computerized simulation or wave pool testing.
Eco Wave Power already has more than 400 MW of projects worldwide in the pipeline. We also have significant operational experience. We were six years grid connected in Gibraltar, three years in Israel. One year we were working in the Port of Los Angeles, and we are soon launching three projects, three new projects in Taiwan, India, Portugal, and more. We also have a strong support from the research community.
We appeared in a recent study by NREL, the National Renewable Energy Laboratory, which is under the Department of Energy of the United States. The report is clearly stating that Eco Wave Power's technology is the simplest technology to commercialize in the United States. Because it is connecting to existing infrastructure, which is much easier and simpler.
We also work with leading universities, including the Queen Mary University of London, the Technion – Israel Institute of Technology in Israel, the Florida Atlantic University of Miami, the University of Michigan in the United States, and others. And we have strong strategic partnerships. We are an NVIDIA Inception Program member of NVIDIA, and NVIDIA was very nice and kind to show us in the Jensen Huang's keynote and write a corporate blog about us. We also collaborate with EDF Renewables, which is the largest renewable energy developer in Europe for the Israeli project.
We have the collaboration with Shell for the Port of L.A project, Bharat Petroleum, a Fortune 500 oil and gas company, for the Indian project, and I-Ke for Taiwan. The company is also recognized by the United Nations. We are recognized as efficient solution by Solar Impulse, by Sustainable Markets Initiative of King Charles and the World Economic Forum, and we received funding from the European Union and the European Commission. That is it. Thank you so much. Questions?
Okay, everybody, that was, once again, Ms. Inna Braverman from Eco Wave Power. It has been a long day. Very great job. We are going to open it up to questions now. For our live web audience, we would only ask that you speak your question clearly into the microphone. Thank you.
Congratulations on getting into the NVIDIA Inception program. I have heard it is a really great program. With these strategic partnerships, are they just providing you the GPU, or are they actually giving you capital? Curious about how much you have raised.
Right now, as part of the Inception program, they do not provide capital. We can use different software and work with other Inception members like AI engineering from Germany that we are working to create our digital twin for improvement of an upgrade of our technology. We are discussing with NVIDIA other types of collaboration. It is not yet public information. We did not announce, or they did not announce anything. We are in discussions of different, I do not know what to say, probably possibilities for collaboration, including powering data centers. But when it is public, we will discuss it more broadly.
How much have you guys raised?
How much have we raised in total since inception? Around $30 million.
There you go.
What are your main competitors on a global scale?
99% of the competitors are offshore technologies, like I showed in the beginning of presentation, like Pelamis . They are not nearshore or onshore and connecting to existing structures. They are in the middle of the ocean. That makes them much more expensive, difficult to execute. They are breaking down a lot. Most of the offshore technologies are still in very early stage.
They are still in the concept stage. We are already connected to the grid and selling energy to the grid, and I think we are either the only one or one of the only ones that have been able to accomplish that. That is a good question, actually. There is a new company, also offshore, that never, from what I know, built a project or sent any energy to the grid, called Panthalassa, where Peter Thiel just invested $140 million at a valuation of $1 billion.
Their idea is basically to put floaters in the middle of the ocean and connect them directly to underwater data centers offshore. Very futuristic. Sounds like Elon Musk's idea of making energy out in space. I think Eco Wave Power will probably commercialize before that, since we already have working projects on planet Earth. Yes, go ahead.
How much do you actually need for you guys to truly commercialize, because $30 million might not be enough?
First of all, we don't spend a lot of money. In the previous quarter, we showed that we spend $700,000 per quarter. Our net loss is $3 million a year. The company currently has a cash position of $8.4 million, so that's two, three years of operation. The reason for being able to keep such a lean structure is the fact that we don't usually construct the assets, which are the most expensive things from our balance sheet. We have the strong strategic partners, and they're funding the assets.
At what point do you break even?
We don't provide guidance, but basically because our net loss is so low, because we burn so little cash. For us, one big project, you're basically breaking even and moving to profitability.
Okay, you're still in the process of putting together a big project.
We're in the process of licensing a big project because, as I said before, the first years of the companies were developing of the product. We didn't want to come to the market with a product that we don't feel confident with and we don't feel comfortable with. As soon as we felt good with the project, we started putting pilots in different locations because you need to create legislation, regulatory framework. Wave energy is very new.
Think solar and wind 40 or 50 years ago. We put a pilot in Port of L.A. , in Israel. Now we're putting the first two pilots in Asia and in Europe, which is in Portugal. All these pilots are meant to turn into commercial projects. The Port of L.A. project started with 100 kW pilot with Shell, but is growing into up to 60 MW project. We do the licensing, and then we go to the construction of the larger ones.
I'm seeing a lot of these power plus data center projects.
Yeah.
Are you considering yourself more of a power company or a data center company?
Both. In some cases, we will connect the energy to the grid. As you know, some states in the U.S., they don't love data centers, so they love renewable energy, and they wanted to connect to the grid rather than connecting directly to an asset.
For us, it's actually cost efficient to connect to an asset, like to connect to a data center, because usually the price per kilowatt hour will be higher, and the data center is already, in many cases, located on the coastline because they use water for cooling of the data center. So it's good for us, it's good for them. So whenever we can connect to an end consumer, we will do that. Whenever we can connect to the grid, we will connect to the grid. So we kind of do both.
Hi. You have to forgive me for asking this, I was a bit late. In regards to water, you've got liquid cooling, desalination-
Yeah
and then hydropower. Hydropower, definitely. How much are you guys offering desalination as something that's necessary, if at all, as opposed to liquid cooling components, especially with data centers involved, if any? I'm just asking because I was late.
If we're working with desalination or at all?
At all. Yeah, that's just first question.
We're not working with desalination right now, but the most expensive component of the desalination process is the cost of energy. So definitely for us, again, an end consumer can be a port, a desalination plant, a data center, or the grid. We're kind of industry agnostic in that regard. We can send energy to whoever is needed.
Okay. Yeah, that's all I had to ask. Thanks.
Okay. Thank you. Thank you so much, everybody.
Anybody else? Okay, great job.
Thank you.
Inna Braverman, thank you so much. It's a pleasure to meet you. Folks, once again, let's give it up for the CEO of Eco Wave Power, lovely Inna Braverman. Coming up, everybody, our final presentation of the day, it'll be Sparta Commercial Services.
ACCESS Newswire will not be participating today, originally slated on the schedule. It'll be Tony Havens in about five minutes, everybody, and Sparta Commercial Services concluding our event today. Until then, we'll see you back here in a couple of minutes. John Hefferna n signing off from now and our webcast audience, don't go anywhere. One more presentation to go. We'll be back right after this.