Earnings Labs

Eco Wave Power Global AB (publ) (WAVE)

Q4 2021 Earnings Call· Tue, Mar 1, 2022

$7.47

+4.45%

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Transcript

Operator

Operator

You have joined the meeting as an attendee and will be muted throughout the meeting. On the Eco Wave Power's fourth-quarter and full-year 2021 earnings webinar. All participants here today are in a listen only mode and we are recording today. So that is your notification of that. I am Rob Bank of and we are proud to support Eco Wave Power and its efforts, Investor Relations efforts. Hosting today's webinar, Inna Braveman, Eco Wave's Co-Founder and Chief Executive Officer. Before I turn the webinar over to Inna I'd like to remind everyone that matters discussed on this conference call will constitute forward looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward looking statements generally relate to the company's plans, objectives, and expectations for future operations and are based on management's current estimates and projections, future results or trends. Actual results may differ materially from those projected as a result of certain risks and uncertainties. For a discussion of such uncertainties, please see the risk factors section as described in Eco Wave Power's registration statements on Form F1 filed with the SEC, which is available on the SEC's website at sec.com. With that, I will now turn the call over to Inna. Inna congratulations on a successful productive year. The call is yours.

Inna Braverman

Operator

Thank you Rob. So I'm excited to conduct this webcast and we workied to extend our efforts to connect to the shareholders and to impact investors globally. I'm glad to be here today and announce that we're considerably closer to achieving our mission of changing the world, one WAVE at a time. I'm particularly proud of our team for advancing this important initiatives despite the pandemic, which created a whole new set of challenges. We believe that the world needs our technology and that there is growing recognition of the importance of WAVE energy. And during the year 2021, we kept pushing towards achieving our goal. This was evident by our significant progress with our soon-to-be grid connected WAVE energy power station. The EWP EDF One Project in the port of Jaffa in Israel. Currently, we have all floaters manufactured and installation of the floaters to the sea wall has begun. We also finalized the electric groundwork to enable the connection of the power station to the electrical grid. The new WAVE energy array will be an improved and upgraded version of our existing technology, which will be officially operational -- IL an investments from the Israeli Energy Ministry, which officially recognized our technology as pioneering technology. This will be the first time in the history of Israel, this wave energy, or electricity from the WAVE will officially connect to Israel's National electrical grid. Also in Israel, we announced that we entered into collaboration agreement with the procurement administration in the Israeli Ministry of Defense for the Israeli Navy to examine the feasibility of installing the EcoWave Power technology at Navy bases, which may open a whole new potential market segments for Eco Wave Power. According to the terms of the agreement, Eco Wave Power already procured wave measuring system.…