Ocean Power Technologies (OPTT) announced this morning that it has completed its next generation wave energy device, the PowerBuoy 150. The buoy with peak power output of 150kW (enough to power 150 homes), was built in Scotland and is currently being prepared for ocean trials off the coast of Invergordon. A 2nd PowerBuoy is being built in Reedsport, Oregon and the company is pursuing financing for commercial utilization once the trials are complete.
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The LA Times highlighted Ocean Power Technologies (OPTT) at its Environmental blog today. The company aims to be the first in the US to provide wave energy on a commercial scale. Last month they reached a milestone by providing power with a test buoy to a US Marine base in Hawaii. The next step is to connect a larger buoy to the grid in Reedsport, Oregon and ultimately build a wave energy farm off the … Read the rest
24/7 Wall St published their list of the 25 most important alternative energy companies a few days ago and broke it down by category. I thought I’d highlight the companies they consider to be the most important in each category (which I agree with) and add in some of my own thoughts. There is one glaring omission in 24/7 Wall St’s report and that is geothermal. Geothermal remains the red headed step child of the … Read the rest
The US Navy continues to invest in the wave energy technologies of Ocean Power Technologies (OPTT) as part of their anti-terrorism and maritime surveillance program. The new award follows the successful completion of the first stage of a four-year $15.0 million project for the US Navy’s Littoral Expeditionary Autonomous PowerBuoy (LEAP) program during which OPT successfully completed delivery of the design and testing of a new power take-off system for its PowerBuoy wave energy system. … Read the rest
A big wave energy milestone has been reached here in the US. Ocean Power Technologies(OPTT) has for the first time in US history successfully completed the connection of a wave energy device to the energy grid. The PowerBuoy was connected to the grid with the help of the US Navy at a Marine base in Hawaii.
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Charles F. Dunleavy, Chief Executive Officer of OPT, … Read the rest
Ocean Power Technologies (OPTT) announced today two additional grants from the DOE totaling $4.8 million to help to continue to advance its research into wave energy systems and put the finishing pieces in place for the country’s first commercial wave energy plant in Reedsport, Oregon.
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CEO Charles F. Dunleavy commented: “These awards are another significant step in a global drive to make wave power a … Read the rest
Ocean Power Technologies (OPTT) moved another step closer to realizing its goal of completing the first commercial scale wave power station in the US. The company has signed a Settlement Agreement with 11 federal and state agencies for its Reedsport, Oregon wave energy project which covers everything from aquatic resources, water quality, recreation, public safety, crabbing and fishing and cultural resources.
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The next step for … Read the rest
Ocean Power Technologies just announced that it has been granted GBP 1.5 million by the South West of England Regional Development Agency to develop a new, improved 500 KW PowerBuoy.
Ocean Power Technologies will collaborate with A&P Falmouth and the Peninsula Research Institute for Marine Renewable Energy on the new PowerBuoy design, increasing output from 150kw to 500kw and making other improvements.
In a press release, Angus Norman, Chief Executive Ocean Power Technologies, Ltd., … Read the rest
Ocean Power Technologies (OPTT) has won a $1.5 million grant from the DOE to help develop the next generation PowerBuoy wave energy system, capable of producing more than triple the power of the current PowerBuoy system and with a much lower installation cost. The company received its first DOE grant in 2008 to help with the project in Reedsport, Oregon.
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CEO Charles Dunleavy commented: “OPT’s … Read the rest
Ocean Power Technologies (OPTT) received a EUR2.2 million grant from the European Commission to deploy a PowerBuoy wave energy device as part of the WavePort project in Spain. OPTT will be responsibly for the PowerBuoy as well as the underwater pod and will be working closely with the Wave Energy Centre (Portugal), Fugro Oceanor (Norway), DeGima (Spain) and the University of Exeter (UK).
OPTT’s proprietary technologies allow for wave by wave tuning to optimize efficiency. … Read the rest