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October 5, 2007 – Vol. 12 No.28 Finavera Renewables Updates Status of AquaBuOY 2.0 Wave Energy Converter Deployment. The second generation device continues to provide key data for future development. The AquaBuOY 2.0 continues to produce hydraulic power off the coast of Newport, Oregon following its deployment in early September. Key positive results from testing thus far include confirmation of the hose pump system's excellent performance, survivability, and the successful overall integration of the hose pump system - a key component. Dunlop Oil and Marine Ltd. (a division of Continental AG), is the manufacturer of the hose pump. Finavera Renewables CEO Jason Bak said, "The AquaBuOY 2.0 wave energy converter continues to perform, and continues to provide us with invaluable data as it converts ocean energy into hydraulic power. The information we are gathering from the AquaBuOY 2.0 will provide the basis for the future development and eventual commercialization of the wave energy converter. This deployment is a key step along the road to producing economical electricity from ocean energy." The AquaBuOY 2.0 will remain deployed for a period of approximately one more month. The focus of the construction and deployment of AquaBuOY 2.0 is to determine potential cost reductions and the most efficient way to increase power output. Once the wave energy converter is removed from the water, engineering work will begin on design plans for the next generation of the technology aimed at commercialization, the AquaBuOY 3.0 Finavera Renewables is developing wave energy projects for AquaBuOY use in the United States, Portugal, South Africa and Canada. The Company is also developing wind energy projects in Canada and Ireland. (10/5/07)
Links: Finavera Renewables Dunlop Oil and Marine
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes
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