Earnings Labs

Eco Wave Power Global AB (publ) (WAVE)

Q3 2022 Earnings Call· Thu, Dec 1, 2022

$7.47

Key Takeaways · AI generated
AI summary not yet generated for this transcript. Generation in progress for older transcripts; check back soon, or browse the full transcript below.

Same-Day

+3.81%

1 Week

+2.86%

1 Month

-10.00%

vs S&P

-5.88%

Transcript

Operator

Operator

Good morning, ladies and gentlemen, and welcome to today's Eco Wave Power Third Quarter, 2022 Earnings Conference Call. All participants have been placed on a listen-only mode. It is now my pleasure to turn the floor over to your host, Jeff Stanlis with FNK IR. Jeff, the floor is yours.

Jeff Stanlis

Management

Thank you, Tom. And welcome everyone to Eco Wave Power's third quarter 2022 earnings conference call. Hosting the call today is Inna Braverman, Eco Wave Power's Co-Founder and Chief Executive Officer. Before I turn the call over to Inna, I would 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, projections and 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 risks and uncertainties, please see risk factors as described in Eco Wave Power's registration statements on Form F1 that have been filed with the SEC and which are available on the SEC’s website at www.sec.gov. With that said, I would like to turn the call over to Inna. Inna, the call is yours.

Inna Braverman

Management

Thank you very much, Jeff. So I'm very excited to provide our quarterly update and then to update our key initiatives continue to accelerate and we're moving quickly to significant operational milestone. We are well on path towards achieving the goals that we have set for this year. In particular, we are moving steadily towards the commercialization of our pioneering wave energy technology by expanding our presence in the United States, Europe and Israel, which are our core market. The first core market for Eco Wave Power is Israel, since this is the company's based and our country of origin and our most advanced project in Israel is the EWP-EDF One project in Jaffa Port in Israel, which is been executed in collaboration and co-investments from the Israeli Energy Ministry and EDF Renewables IL, which is a subsidiary of Electricity at the French and the French National Electrical Company. The EWP-EDF One project is currently in final stages of grid connection and is soon expected to become fully operational. As previously discussed in the previous call, the Israeli Electrical Authority has set a Feed-in Tariff for the electricity produced by our wave energy pilot as part of our technology's recognition as pioneering technology by the Israeli Energy Ministry. And on the 28th of November, a few days ago, the Director of Engineering Supervision of Low and High Voltage from the Israeli Electric Authority visited our project to discuss the final electrical inspection necessary for Eco Wave Power to receive the approval of sending electricity from the waves to the Israeli national grid. Once the power station is officially connected to the grid, this will be the first time in the history of Israel that electricity from sea waves will be sent to Israel's national electrical grid. We expect that our…

Operator

Operator

Thank you. Ladies and gentlemen, this does conclude today's conference call. You may disconnect your phone lines at this time and have a wonderful day. Thank you for your participation.

Q -

Management