Eco Wave Power Appoints Hilary E. Ackermann, Vistra Energy Board Member & Former Goldman Sachs Executive, to Advisory Board

Stockholm, Sweden--(Newsfile Corp. - March 20, 2025) - Eco Wave Power Global AB (publ) (NASDAQ:WAVE) ("Eco Wave Power" or the "Company"), a leading onshore wave energy technology company, is pleased to announce the appointment of Hilary E. Ackermann to its Advisory Board.

Hilary E. Ackermann

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11247/245400_e76cc887f44c29c6_001full.jpg

Ackermann, a recognized leader in energy sustainability and risk management, brings a wealth of expertise to Eco Wave Power. Since 2018, she has served on the Board of Directors of Vistra Energy, where she is Chair of the Sustainability and Risk Committee and a member of the Generation and Safety Committee. With extensive experience guiding energy companies through the complexities of clean energy transitions, regulatory compliance, and sustainable business practices, her insights will be invaluable in supporting Eco Wave Power's expansion and technological advancements.

"We are thrilled to welcome Hilary Ackermann to the Advisory Board," said Inna Braverman, CEO, Eco Wave Power. "Her deep understanding of energy markets, sustainability governance, and risk management aligns perfectly with our vision for the future of wave energy. As Eco Wave Power continues to scale its innovative technology and integrate into the global renewable energy landscape, her influence will help drive our efforts toward long-term sustainability and impact."

Ackermann has over three decades of experience in the energy and financial sectors, specializing in corporate governance, sustainability frameworks, and strategic risk assessment. She was previously a board member of Dynegy Inc. and joined Vistra Energy's board following its acquisition of Dynegy.

Before her corporate governance roles, Ackermann served as Chief Risk Officer of Goldman Sachs Bank USA from 2008 to 2011, following a distinguished tenure at Goldman Sachs that began in 1985. She also held senior positions in risk oversight and credit management at Swiss Bank Corporation (now UBS). Her board experience includes serving on the private Board of Directors and Audit Committee of Credit Suisse Holdings (USA), Inc. from 2017 to 2022, where she chaired the Risk Committee. She currently holds positions on the private board and audit committee of several Hartford investment funds, where she also chairs the Risk and Compliance Committee. Additionally, she has previously served as a public board member of Apollo Investment Corporation as a member of the Audit Committee. In 2020 Ms. Ackermann was named in NACD Directorship 100 as one of the most influential leaders in the boardroom. Additionally, in 2018, Ms. Ackermann was named among the Most Influential Corporate Board Directors by WomenInc.

Ackermann holds a bachelor's degree in Russian from Georgetown University.

"I am excited to join the Advisory Board of Eco Wave Power at such a pivotal time for the renewable energy industry," said Ackermann. "As global energy markets increasingly shift toward sustainable solutions, wave energy represents a key opportunity for reliable and scalable clean power. I look forward to contributing to Eco Wave Power's mission and helping to drive innovation in ocean energy."

With this appointment, Eco Wave Power further strengthens its leadership team, reinforcing its commitment to accelerating the commercialization of wave energy as a vital part of the clean energy transition.

Eco Wave Power established an advisory board as of today to provide strategic guidance and insight to the Company. This appointment is advisory in nature and does not confer any governance responsibilities.

About Eco Wave Power Global AB (publ)

Eco Wave Power is a leading onshore wave energy company revolutionizing clean energy with its patented, smart, and cost-efficient technology that converts ocean and sea waves into sustainable electricity.

Dedicated to combating climate change, Eco Wave Power operates the first grid-connected wave energy system in Israel, co-funded by EDF Renewables IL and the Israeli Energy Ministry, which recognized the technology as a "Pioneering Technology."

Expanding globally, Eco Wave Power is preparing to install projects at the Port of Los Angeles, Taiwan, and Portugal, adding to its impressive project pipeline totaling 404.7 MW. The company has received support from prestigious institutions such as the European Union Regional Development Fund, Innovate UK, and the Horizon 2020 program, and was honored with the United Nations' Global Climate Action Award.

Eco Wave Power's American Depositary Shares (WAVE) are traded on the Nasdaq Capital Market. Learn more at www.ecowavepower.com.

Information on, or accessible through, the websites mentioned above does not form part of this press release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and other federal securities laws. For example, the Company is using forward-looking statements in this press release when it discusses: the belief that Ms. Ackermann's appointment to Eco Wave Power's advisory board will drive the Company's efforts towards long-term sustainability and impact, the belief that wave energy represents a key opportunity for reliable and scalable clean power and the belief that the Company reinforces its commitment to accelerated the commercialization of wave energy as a vital part of the clean energy transition. These forward-looking statements and their implications are neither historical facts nor assurances of future performance and are based on the current expectations of the management of Eco Wave Power and are subject to a number of factors, uncertainties and changes in circumstances that are difficult to predict and may be outside of Eco Wave Power's control that could cause actual results to differ materially from those described in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Except as otherwise required by law, Eco Wave Power undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting Eco Wave Power is contained under the heading "Risk Factors" in Eco Wave Power's Annual Report on Form 20-F for the fiscal year ended December 31, 2024, filed with the SEC on March 3, 2025, which is available on the on the SEC's website, www.sec.gov, and other documents filed or furnished to the SEC. Any forward-looking statement made in this press release speaks only as of the date hereof. References and links to websites have been provided as a convenience and the information contained on such websites is not incorporated by reference into this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245400