Eco Wave Power Reports Fourth Quarter and Full Year 2021 Financial Results

"Eco Wave Power enters 2022 poised for rapid and material progress," commented Inna Braverman, Founder and Chief Executive Officer of Eco Wave Power. "Installation of the floaters at the Port of Jaffa, Israel is underway, and we plan to connect our newest wave energy installation to Israel's power grid in the coming months. In Portugal, we are advancing our largest and most significant deployment to date, and we expect to materially advance our first megawatt-scale plant during this year. Simultaneously, we have taken important steps to enter new markets, particularly the United States, materially increasing our addressable market and giving us a global presence. Our goal of changing the world, one wave at a time, is increasingly coming into view."

" Eco Wave Power enters 2022 poised for rapid and material progress," commented Inna Braverman, Founder and Chief Executive Officer of Eco Wave Power. "Installation of the floaters at the Port of Jaffa, Israel is underway, and we plan to connect our newest wave energy installation to Israel's power grid in the coming months. In Portugal, we are advancing our largest and most significant deployment to date, and we expect to materially advance our first megawatt-scale plant during this year. Simultaneously, we have taken important steps to enter new markets, particularly the United States, materially increasing our addressable market and giving us a global presence. Our goal of changing the world, one wave at a time, is increasingly coming into view."

"Our collaboration with AltaSea at the Port of Los Angeles ("AltaSea"), combined with potential grants and state legislative support in other regions, represent important first steps in the United States," continued Ms. Braverman. "We have listed our American Depository Shares on the Nasdaq Capital Market, an exchange that positions us with other innovative, global cleantech companies, and we are focused on expanding our presence around the world. We expect 2022 to be our most important year to date, and we are increasingly confident that we are well-positioned to achieve our ambitious goals."

Three months ended December 31, 2021           

           

           

Year Ended December 31, 2021           

           

           

           

           

           

Operational Summary           

           

           

           

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Live video webcast Information

Inna Braverman, the Founder and Chief Executive Officer of Eco Wave Power, will discuss the results in a live video webcast at 10 a.m. ET (4 p.m. CET) on Tuesday, March 1, 2022.

Interested parties can access the event through the following Zoom Link: Eco Wave Power Webcast.

A replay will be available on the Company's website (www.ecowavepower.com) after the conclusion of the live event

For the full year-end report in Swedish kronor (SEK), please click here.

For the full year-end report presented in USD please click here

About Eco Wave Power Global AB (publ)

Eco Wave Power is a leading onshore wave energy technology company that developed a patented, smart and cost-efficient technology for turning ocean and sea waves into green electricity. Eco Wave Power's mission is to assist in the fight against climate change by enabling commercial power production from the ocean and sea waves.

Eco Wave Power is recognized as a "Pioneering Technology" by the Israeli Ministry of Energy and was labelled as an "Efficient Solution" by the Solar Impulse Foundation. Eco Wave Power's project in Gibraltar has received funding from the European Union Regional Development Fund and the European Commission's Horizon 2020 framework program. The Company has also received the "Global Climate Action Award" from the United Nations.

Eco Wave Power's common shares (ECOWVE) are traded on Nasdaq First North Growth Market and its ADSs (WAVE) are traded on the Nasdaq Capital Market.

Vator Securities is the Company's Certified Advisor on Nasdaq First North Growth Market (+46 8 580 065 99, [email protected]).

For more information, please contact:

Inna Braverman, CEO
[email protected]
+97235094017

For additional investor/media inquiries, please contact:

Investor Contact:
Matt Chesler, CFA
FNK IR
+1.646.809.2183
[email protected]

Media Contact:

Allison & Partners
[email protected]

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Eco Wave is using forward-looking statements when it discusses its pipeline and expansion of its presence around the world, plans to connect its newest wave energy installation to Israel's power grid in the coming months, its collaborations, and its expectation that 2022 will be its most important year to date. These forward-looking statements and their implications are based on the current expectations of the management of Eco Wave and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Except as otherwise required by law, Eco Wave 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 Registration Statement on Form F-1 filed with the SEC, which is available on the on the SEC's website, www.sec.gov.

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