Eco Wave Power, All-Ways Metal Sign Wave Power Tech Manufacturing Deal

Eco Wave Power, an onshore wave energy technology company, announced the signing of a manufacturing agreement with All-Ways Metal, for the production of floaters for its wave energy project in the Port of Los Angeles. This marks a milestone in the development of Eco Wave Power's first-ever U.S. proof-of-concept installation.

The floaters, which form a key component of Eco Wave Power's proprietary wave energy conversion technology, will be manufactured locally by All-Ways Metal and are scheduled for delivery within 70 days. Once completed, the floaters will be installed and connected to the Municipal Pier One at the Port of Los Angeles, signifying the official launch of the Company's U.S. project.

This agreement follows Eco Wave Power's receipt of a final licensing approval from the Port of Los Angeles, which was granted earlier this month, and builds on the federal permit received from the U.S. Army Corps of Engineers in November 2024. These regulatory milestones clear the way for full implementation of the Company's first U.S.-based wave energy system.

Co-developed with Shell Marine Renewable Energy (Shell MRE), the project represents a convergence of public and private investment in renewable energy infrastructure. Once operational, the pilot installation will serve as a scalable model for future wave energy deployments along the U.S. coastline and globally.