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Eco Wave Power Global AB (publ) (Nasdaq: WAVE), a developer of onshore wave energy technology, announced on September 22, 2026, that it is pursuing Rhode Island as a potential location for its first commercial wave energy project in the United States. The company said that sites in Rhode Island were identified as particularly suitable for deployment of its technology following a feasibility study conducted jointly with Shell Marine Renewable Energy.

Eco Wave Power’s founder and Chief Executive Officer Inna Braverman is scheduled to speak at the inaugural Futures: Ocean Forum in Newport, Rhode Island, on September 24, 2026. During her visit, Braverman plans to tour two of the identified sites and meet with state and local authorities to discuss potential project development, according to the company’s announcement. The forum will convene leaders, innovators, investors, researchers and public-sector stakeholders to explore ocean technologies and the blue economy.

Rhode Island Secretary of Commerce Stefan Pryor and Rhode Island Commerce Chief Business Development Officer Jason Dodier personally invited Braverman to participate, the company said. Dodier stated that hosting Eco Wave Power represents an opportunity to turn Rhode Island’s identity as the Ocean State into infrastructure for ocean energy. Rhode Island Governor Dan McKee is also scheduled to attend the forum.

Eco Wave Power said that Rhode Island is of particular strategic interest as the company evaluates opportunities for commercial deployment of its wave energy technology along the U.S. coastline. The feasibility study with Shell evaluated potential locations along the U.S. coastline and identified Rhode Island sites among those considered particularly suitable based on factors relevant to the implementation of the company’s onshore technology.

Braverman noted in the announcement that the company’s interest in Rhode Island extends beyond the forum participation. She stated that the previous feasibility work with Shell identified promising locations in the state for potential commercial deployment and that she looks forward to visiting these sites and meeting with relevant authorities to explore what could become Eco Wave Power’s first commercial project in Rhode Island.

The company emphasized the potential of ocean energy as a source of clean power. Braverman said that the ocean covers more than 70 percent of the planet yet its potential as a source of clean energy remains largely untapped. She also noted that rapid expansion of artificial intelligence, data centers and digital infrastructure is creating unprecedented electricity demand, which she characterized as creating an important opportunity for wave energy technologies.

Key terms

Onshore wave energy technology refers to systems that capture energy from ocean waves while being located on or near the shore, as opposed to offshore installations in deeper water. This approach can reduce some installation and maintenance costs compared to fully offshore systems.

A feasibility study is an analysis conducted to evaluate whether a proposed project is technically and economically viable before committing significant capital to development. Such studies typically examine site conditions, regulatory requirements, and market demand.

An offtake agreement is a contract in which a buyer commits to purchase a specified amount of a company’s future output at agreed prices and terms, providing revenue certainty for the producer.

Why it matters

Wave energy remains an early-stage renewable technology with limited commercial deployment globally. Identifying and securing specific coastal sites represents a necessary step toward commercialization, as site selection depends on wave resource quality, environmental conditions, permitting feasibility, and proximity to grid infrastructure. Engagement with state authorities and participation in high-level forums can facilitate regulatory approvals and stakeholder support, both of which are typically required before utility-scale energy projects proceed to construction. However, site identification and preliminary discussions do not guarantee that a project will advance to development or that financing will be secured.

What to watch

According to the company’s announcement, Braverman plans to meet with relevant state and local authorities during her Rhode Island visit to discuss potential project development. The documents reviewed do not provide a specific timeline for when Eco Wave Power might announce a formal development agreement or project financing for a Rhode Island installation.

Sources