Tag Archives: Wave Energy

Ocean Power Tech (OPTT) Moves Closer To Commercial Scale Wave Energy In Oregon

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 (OPTT) Wins $1.5 Mill DOE Grant For Next Gen PowerBuoy

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 Tech (OPTT) To Begin Construction On First N. American Commercial Wave Energy System In Oregon

Ocean Power (OPTT) is announcing that it will begin construction on the first North American commercial wave energy system in Oregon and has selected Oregon Iron Works of Clackamas to build the system off the Oregon coast in Reedsport.

Construction of the first PowerBuoy wave energy system represents phase one and phase two will involve the build out of the final 9 systems which is expected to generate 1.5MW of electricity.  Regional power company PNGC … Read the rest

Ocean Power Tech (OPTT) Soaring Again On $66 Million Australian Govt Wave Energy Order

Ocean Power Technologies (OPTT) has just released big news yet again and the stock is soaring another 30%.  The company has a received a $66.5 million grant from the Australian government to build a 19MW wave energy project off the coast of Victoria.  Over 30 applications were submitted to the government and just four were approved, including the OPTT project.  It’s the only wave energy project approved so big news for Ocean Power.  They will … Read the rest

Ocean Power Technologies (OPTT) Continues To Surge After Reporting Narrower Loss

Ocean Power Technologies (OPTT) looks mighty close to putting in a bottom after testing the March lows in recent days and surging with volume again today after it reported a narrower loss yesterday morning.  While revenues came in 27% lower than the year ago period at $1.3 million, the company reported a narrower loss of .21/share.  Traders seemed to like the report, bidding up the stock nearly 20% in the past two trading days. 

CEO … Read the rest

Ocean Power Technologies (OPTT) Celebrates Launch of PowerBuoy Wave Energy Off NJ Coast

One green stock nobody is talking about is Ocean Power Technologies (OPTT), which remains in a nasty downtrend.  Just about every other green stock has seen its stock surge this year.. from Rentech (RTK) with its jet biofuel to Capstone (CPST) with its microturbines to the solars and lithium battery companies.  Nearly all have rocketed higher.  Poor old OPTT remains mired in the abyss of a record low stock price.  Perhaps that may change .. … Read the rest

Tidal Energy Investing: An Incomplete Guide

There’s a nice article over at Seeking Alpha (albeit with some inaccuracies which I discuss below) discussing the ins and outs of investing in tidal energy.  It’s certainly less developed than just about all other forms of renewable energy, but offers great potential FAR down the road.  I thought I’d provide a few updates and expand on the article.  Feel free to expand upon and provide updates yourself in the comments section and I’ll add … Read the rest

Back To The Drawing Board For Energias De Portugal (EDPFY) Wave Park

Energias de Portugal has removed its Pelamis wave energy installation from the site of its proposed Agucadoura wave park off the coast of Portugal. The unit experienced a number of technical issues and had to be dismantled after only a few weeks in the water.

According to this article from AFP, here’s what went wrong:

"There was a recurrent problem with the movements of the hydraulic screws in the three machines, and this is

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ABB (ABB) Helps Oceanlinx Construct Wave Energy Prototype

The Australian division of ABB Ltd assisted Oceanlinx in the production of a 250kW Wave Energy Conversion prototype. The prototype is capable of extracting energy from waves and either converting it to electricity for general use or using it to power saltwater desalinization facilities. Oceanlinx developed the technology, but ABB participated in modifications and installation of the Wave Energy Conversion unit hood and steel work.

Oceanlinx’s CEO, Stuart Weylandsmith,  complimented ABB on the work it … Read the rest

New Chief Technology Officer For Ocean Power Technologies (OPTT)

Ocean Power Technologies just announced that they have appointed Dr. Phil Hart as the company’s Chief Technology Officer. As part of his new position, Dr.Hart will help lead Ocean Power in the development of new and improved PowerBuoy technology and lead additional research projects on wave energy. Before joining Ocean Power Technologies, he worked on research and development for Global Marine Systems. He also has an extensive background in marine technology and engineering. Mark R. … Read the rest