Q4 2023 Eco Wave Power Global AB (publ) Earnings Call

Okay.

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Greetings welcome to the Eagle wave power fourth quarter 2023 earnings call. At this time all participants are in a listen only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference.

Press Star Zero on your telephone keypad. Please.

Please note. This conference is being recorded I will now turn the conference over to your host Ina Braverman Ma'am you may begin.

Ina Braverman: Thank you and thank you everybody for joining today.

Ina Braverman: The economic landscape is when he 23 was marked by a predictability and numerous challenges.

None: Yes, sorry.

None: Consumers and economy.

None: Just for possible recession.

None: When faced with challenges, we equalize power understood. This we must adapt and learn both navigate through the turbulence.

None: And have learned over the past years that adaptability is a cordless doyle success in being that especially in today's rapidly changing economic landscape.

None: Our the patient process work and we were able to demonstrate our resilience by reaching over our revenue by 1076% nothing to with these funds we get to a run from other sources and decrease our net loss by 36% ending the year with $8 4 million U S. Dollar.

None: And before that.

None: Although the company's burn rate has decreased substantially we were able to achieve significant milestones such.

None: Such as the Grease collection, although it is ready project, which already said is the first megawatt hours of clean electricity from the way so the Israeli national electrical week, marking the first time in Israel enjoy this wave of LNG was officially when they said the national electrical grid.

None: In January blended right before we have also entered into an investment agreement with shell MRE throw a third U S project at the Port of Los Angeles.

None: Accordingly, we sure would participate and profiles the development equal weight power first of all just in the United States.

None: The agreement was entered by set of technology Marine renewable program, which is an R&D pursuing the mission of binding screening testing and developing marine renewable energy technologies to achieve more volume with lower emissions and has the critical energy infrastructure for the <unk>.

None: The blue economy.

None: But in terms of the agreement <unk> will contribute 50% of the production installation and scheduled maintenance.

None: The wave energy pilot station with scheduled payments in line with key project milestones.

None: The project is expected to be up and running doing weighted right before this year.

None: This is the second collaboration between equal with power and sell them or E Vita.

With our first collaboration and be in the form of conducting a comprehensive study for shadow aimed at identifying the top locations for commercial auto for a wave of legislation. They chose on the U S coastline and worldwide.

None: Three months in the usability study, which now being completed has shown favorable conditions for clean energy production in multiple locations in the U S and globally.

None: Harnessing the power of the Ocean way is a crucial step in reshaping the renewable energy landscape to meet the lead zero goal, we must Ritchie, who want to save our planet, whereas three department, which added two brainwave eligible lives in the United States. These.

None: This partnership not only underscores our commitment to sustainable innovation, but also signify people at the moment as you move towards a cleaner greener future.

None: Our latest achievement during my lunch right before is the security of the final license for all of our first commercial scale for the imports.

None: This is expected to be finalized by Mark when he wants to speak to you.

None: Interestingly excited to be moving forward intra forming and unused Murray structure in the Sydney Airport, though so it's not a clean electricity.

None: Sports It was 1150 mile coastline presents a massive market, where the ocean energy industry.

None: We believe that this landmark project.

None: We did landmark project works with what we said is the Global example of the power of wave Energy. In addition to environmental benefit the station will provide a boost to Portugal, Italy, and many local job over the coming years.

None: Lastly, we would like to update that we have also reinforced our financial position by providing feasibility studies and project planning engineering services for shell and Chevron broken Associate Endesa, who in addition to apply for and securing multiple drugs such as our recently announced.

None: Innovate UK Guan with leading UK universities, sushi bar and other prestigious schools.

But equally follower had an eventful year in the financial market clean energy, so including waste. So did not perform well as we believe a high interest rate and legging efforts to combat climate change has impacted the sector.

None: Of course, the CNN blood Powershares NIS, 63% at year end.

None: And as he shares have plunged, 60% solar etch technologies have declined 71% and next era energy have fleet Wednesday, 9% shown that even the largest and most resilient energy companies have taken any but the financial situation and going to 'twenty three.

None: Even considering that Bob we strongly believe that with the recovery in the economic landscape.

And other five LTV nature, such as the by the administration inflation reduction.

None: Which according to the bank of America, and now more than 217, new clean energy projects with total value of 132 billion U S dollar and requires investments.

None: There will be a significant opportunity for investors in the renewable energy market.

We believe that the renewable energy and wavelength in particular is a significant part of the world future and offers a significant opportunity for de carbonization combined with both at the BDC.

None: In fact be therefore director of sustainable investments and I think the advisors that manages a portfolio that focuses on stope industries from alternative energy battery technologies with a quotation she the corn crop in the clean energy Tau as a biomarker clarity for investors.

None: I would like to see it by saying that as a father and feel equal with power and one of the largest shareholders of wasteful I'm disappointed by the purple.

For many of the waste or the financial market Accordingly, the company's market cap is below its cash position. However at the same time I would like to say that that incorporation of the company. None of the founders of the company have sold any shares and we believe strongly in the company and I'm very.

Mr. Chair. This we believe that the company is financially stable and resilient and has enough funding expertise and support from strategic partners to proceed with the execution of its upcoming projects in the ports of Los Angeles in Portugal, and in other places I believe an equal weight borrowers see in equal way forward.

None: And in the global ambition to fight climate change as a result, we're looking forward to receiving the financial Supervisory authority, we got approval to purchase up to 10% of the company's stock on NASDAQ, which is the highest percentage permitted vital to reinstate our belief in our company and all of our technology.

None: Thank you.

None: Yeah.

None: This concludes today's conference and you may disconnect. Your lines at this time. Thank you for your participation.