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October 30, 2007 – Vol.12 No.32 Ocean Power Technologies (OPT) and Converteam to Develop HTS Linear Generators for Wave Energy Converters. The exclusive cooperation agreement is expected to lead to high temperature superconductor (HTS) linear generators for use in OPT’s PowerBuoy (tm) device. The vision of the two companies is the direct conversion of the linear up and down motion of waves into electricity using OPT’s PowerBuoy and Converteam’s HTS linear generator. The agreement is for at least five years and will include investigating the commercial opportunities and potential customers for the HTS linear generator PowerBuoys. Converteam is a supplier to the US Navy, renewables, marine and industrial markets, specializing in the development, design and supply of electrical motors and generators, power converters and cryogenic systems. It has established a leading position in the wind power market and intends to build a similar position in the wave energy market. Ocean Power Technologies, Inc. develops and is commercializing proprietary systems that generate electricity by harnessing the renewable energy of ocean waves. The Company’s PowerBuoy (tm) system is based on modular, oceangoing buoys, which have been ocean tested for nearly a decade. The company has PowerBuoy projects in Spain, the UK and the US with customers and partners including Iberdrola, TOTAL and the US Navy. In parallel with commercial deployments of current PowerBuoy products, OPT is continually developing enhancements, such as linear generators, that can deliver a lower cost of energy supplied.(10/30/07) Links: Ocean Power Technologies Converteam Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: No
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