Eco Wave Power Global AB, a leader in onshore wave energy technology, has signed a Letter of Intent (LOI) with UK-based Wavefront Asset Management to explore structured equipment financing and leasing solutions for its global wave energy projects. The collaboration aims to provide flexible financing options for customers, supporting Eco Wave Power’s transition from pilot projects to commercial-scale deployments worldwide.
Under the LOI, Eco Wave Power may introduce customers interested in financing wave energy equipment to Wavefront, which would act as funder and lessor, offering medium-term finance leases. Financing solutions could cover up to 100% of equipment and installation costs, with flexibility for different project sizes, markets, and geographies. Wavefront will also support Eco Wave Power’s commercial efforts by preparing lease quotations, participating in customer discussions, conducting credit evaluations, and managing lease agreements.
The LOI has an initial term of 36 months and is non-binding except for customary provisions, with any specific financing transactions subject to definitive agreements between Wavefront and individual customers. The partnership reflects a shared goal of reducing financing barriers for wave energy installations and accelerating the commercialization of Eco Wave Power’s technology.
Inna Braverman, CEO and Founder of Eco Wave Power, emphasized the importance of tailored financing solutions in advancing renewable energy adoption and supporting the company’s growing global project pipeline. Kevin Swannack, Director at Wavefront Asset Management, noted that the collaboration aligns with Wavefront’s focus on environmental and sustainable maritime assets and aims to provide flexible, efficient financing solutions for a wide range of projects.
Eco Wave Power operates projects in Israel and the United States and plans expansions in Europe and Asia, with a pipeline of 404.7 MW under development in countries including Portugal, Taiwan, and India. The company has received recognition and support from the European Union, Innovate UK, and the UN, and its American Depositary Shares are traded on Nasdaq under the symbol WAVE.
This LOI demonstrates the strategic role of financing partnerships in enabling the growth of wave energy technology, supporting global renewable energy adoption, and advancing Eco Wave Power’s mission to provide clean, cost-efficient electricity from ocean waves.
