使用警語：中文譯文來源為 Google 翻譯，僅供參考，實際內容請以英文原文為主
Operator
Operator
Greetings, and welcome to the Eco Wave Power first quarter 2025 earnings call. At this time, all participants are on a listen-only mode.
您好，歡迎參加 Eco Wave Power 2025 年第一季財報電話會議。此時，所有參與者都處於只聽模式。
(Operator Instructions) Please note this conference is being recorded.
（操作員指示）請注意，本次會議正在錄音。
I will now turn the conference over to your host, Mr. Aharon Yehuda, CFO of Eco Wave Power. Sir, you may begin.
現在我將會議交給主持人、Eco Wave Power 財務長 Aharon Yehuda 先生。先生，您可以開始了。
Aharon Yehuda - Chief Financial Officer
Aharon Yehuda - Chief Financial Officer
Thank you. Good morning, everyone, and thank you for joining us to Eco Wave Power's first quarter of 2025 earning call. I'll begin with a brief overview of our financial results and capital allocation priorities. For the three months ended March 30, 2025, Eco Wave Power recorded a net loss of USD505,000 slightly improved compared to USD527,000 in the same period last year. This reflects our continued effort to maintain cost discipline while supporting project development in multiple regions.
謝謝。大家早安，謝謝您參加 Eco Wave Power 2025 年第一季財報電話會議。我將首先簡要介紹我們的財務業績和資本配置重點。截至 2025 年 3 月 30 日的三個月，Eco Wave Power 的淨虧損為 505,000 美元，與去年同期的 527,000 美元相比略有改善。這體現了我們在支持多個地區專案開發的同時，持續努力保持成本控制。
Operating expenses totaled USD765,000, up from USD659,000 in Q1 2024. This increase was mainly due to the growth of engineering and execution work related to our Los Angeles project and the upcoming installation in Portugal. Our investments are focused and aligned with planned construction and deployment timelines.
營運費用總計 765,000 美元，高於 2024 年第一季的 659,000 美元。這一增長主要歸因於我們洛杉磯項目以及與即將在葡萄牙進行的安裝相關的工程和執行工作的增長。我們的投資有重點，並與計劃的建設和部署時間表保持一致。
We also saw an improvement in net financing income, which helped us offset the increase in operating cost. This contributed to the overall stability of our bottom line. As of March 31, our cash and short term deposits stood at USD8.8 million compared to USD9.3 million at year end 2024. The change is primarily tied to development stage spending in Los Angeles and Portugal, as well as early stage activities in India and Taiwan.
我們的淨融資收入也有所改善，這有助於我們抵消營運成本的增加。這有助於我們底線的整體穩定。截至 3 月 31 日，我們的現金和短期存款為 880 萬美元，而 2024 年底為 930 萬美元。這項變更主要與洛杉磯和葡萄牙的開發階段支出以及印度和台灣的早期活動有關。
Looking ahead, we expect to move forward with our pilot sale agreement in Taiwan and anticipate progress on contracts in India subject to final documentation. In parallel, our floaters in Los Angeles are under construction, and we expect it to be finalized by the end of Q2.
展望未來，我們預計將推進在台灣的試點銷售協議，並預計印度的合約將根據最終文件取得進展。同時，我們在洛杉磯的浮動設施正在建設中，我們預計將在第二季末完成。
We remain focused in controlled capital use, maintaining a healthy balance sheet while moving forward with the commercialization of our wave energy technology.
我們將繼續專注於控制資本使用，維持健康的資產負債表，同時推動波浪能技術的商業化。
With that said, I will now turn the call over to Ina to share updates from our global operations and partnerships.
話雖如此，我現在將電話轉給 Ina，分享我們全球營運和合作夥伴關係的最新進展。
Inna, you may begin.
伊娜，你可以開始了。
Inna Braverman - Chief Executive Officer, Director
Inna Braverman - Chief Executive Officer, Director
Thank you all and thank you all for joining us today. The first quarter of 2025 has been a period of meaningful advancement for Eco Wave Power. From a financial standpoint, we delivered a 4.2% reduction in net loss compared to Q1 of last year and finished the quarter with $8.8 million in cash and short-term deposits. This balance allows us to continue investing in our global pipeline while preserving the flexibility to pursue new opportunities.
謝謝大家，也謝謝大家今天加入我們。2025 年第一季對 Eco Wave Power 來說是一段有意義的進步時期。從財務角度來看，與去年第一季相比，我們的淨虧損減少了 4.2%，本季末我們的現金和短期存款為 880 萬美元。這種平衡使我們能夠繼續投資於我們的全球管道，同時保留尋求新機會的靈活性。
In Los Angeles, we moved swiftly from permitting to production. In March, the Port of Los Angeles issued our revocable permit, and in April, we signed the floating manufacturing agreement with All-Ways Metal, which shall be completed by the end of Q2 2025.
在洛杉磯，我們迅速從許可轉向生產。3月份，洛杉磯港向我們頒發了可撤銷許可證；4月份，我們與All-Ways Metal簽署了浮動製造協議，該協議將於2025年第二季末完成。
In Portugal under our 20 megawatt concession agreement with APDL, we finalized engineering designs with MOQ Engineering in March and submitted our full execution plan. Early groundwork has begun and pending APDL approval, we will start equipment procurement and installation later this year, keeping us on track for a 2026 startup.
在葡萄牙，根據我們與 APDL 簽訂的 20 兆瓦特許協議，我們在 3 月與 MOQ Engineering 完成了工程設計並提交了完整的執行計劃。早期基礎工作已經開始，等待 APDL 批准後，我們將在今年稍後開始設備採購和安裝，確保按計劃於 2026 年啟動。
Our partnerships in India and Taiwan reached new milestones in Q1. The MoU with Bharat Petroleum sets the stage for site assessment at the Mumbai oil terminal, and we anticipate a purchase order in Q2. In Taiwan, our sale agreement with I-Ke International Ocean Energy has moved into detailed permitting phase with full contract execution expected by July.
我們與印度和台灣的合作關係在第一季達到了新的里程碑。與印度石油公司簽署的諒解備忘錄為孟買石油碼頭的現場評估奠定了基礎，我們預計將在第二季收到採購訂單。在台灣，我們與益科國際海洋能源的銷售協議已進入詳細許可階段，預計 7 月全面執行合約。
Back in Israel, the EWP-EDF One installation at Jaffa Port locked zero downtime in Q1. The company also conducted successful testing with 10 floaters in wave heights of 1.2 to 2 meters, demonstrating an average power output of 13 kilowatts, validating consistent performance in moderate wave conditions. The peak energy production was 40 kilowatts.
回到以色列，雅法港的 EWP-EDF One 安裝在第一季實現了零停機時間。該公司還在 1.2 至 2 公尺的浪高下對 10 個浮子進行了成功測試，顯示平均功率輸出為 13 千瓦，驗證了在中等波浪條件下的穩定性能。峰值能量產量為40千瓦。
These results support projections that scaling the system could proportionally increase output to 26% with 20 floaters and 39% with 30 floaters. These results validate our design and guide our 2025 R&D focus on reducing floater costs and streamlining installation.
這些結果支持了這樣的預測：擴大系統規模可以按比例提高產量，當有 20 個浮動裝置時，產量可達 26%，當有 30 個浮動裝置時，產量可達 39%。這些結果驗證了我們的設計，並指導我們 2025 年的研發重點是降低浮子成本和簡化安裝。
To strengthen our governance and strategic direction, we established our advisory board in March and welcomed Hilary Ackermann as its first member. Hilary's extensive experience in energy sustainability and risk management will be a valuable resource as we scale from pilots to megawatts scaled deployments.
為了加強我們的治理和策略方向，我們在三月成立了顧問委員會，並歡迎希拉蕊·阿克曼 (Hilary Ackermann) 成為其第一位成員。當我們從試點擴展到兆瓦規模部署時，希拉蕊在能源永續性和風險管理方面的豐富經驗將成為寶貴的資源。
In closing, I want to express my gratitude to our team, our partners, and you, our shareholders, for your continued confidence. We remain committed to building a diversified, resilient wave energy business, and I look forward to sharing further progress as the year unfolds.
最後，我要向我們的團隊、夥伴以及股東們表示感謝，感謝你們一直以來的信任。我們仍然致力於打造多元化、有彈性的波浪能業務，我期待未來分享進一步的進展。
Thank you.
謝謝。
Operator
Operator
Thank you, ladies and gentlemen. This concludes today's call. You may disconnect your lines at this time, and we thank you for your participation.
謝謝各位，女士們、先生們。今天的電話會議到此結束。現在您可以斷開線路，感謝您的參與。